In terms of billionaires, India is rated third on the 2023 M3M Hrun World Rich List. But compared to India, China has nearly five times as many millionaires. As per the report, India is home to 105 self-made billionaires, placing it third overall. Also, per the Hrun list, these billionaires have a collective wealth of $381 billion. Over the past five years, India’s share of the world’s billionaires has steadily increased. In comparison to 4.9% five years ago, it currently makes up 8% of the world’s billionaires. 57% of them are in this position with their personal efforts and growth, on average.
Top 10 Countries Ranked by Number of Self-Made Billionaires
Hurun and M3M India published a list of the US dollar billionaires in India under the 2022 M3M Hurun World Rich List title. The report also includes ranking the nations based on the number of billionaires who reached this level through their own progress and efforts.
The list of the top 10 countries with their respective rankings is based on the number of self-made billionaires and their cumulative wealth.
- At the top of the list is China, which has the highest number of self-made billionaires at 891, with a cumulative wealth of 3,014 billion US dollars.
- The United States follows closely behind, with 496 self-made billionaires and a total wealth of 3,093 billion US dollars.
- India is third, with 105 self-made billionaires and a cumulative wealth of 381 billion US dollars.
- The United Kingdom ranks fourth with 99 self-made billionaires and a total wealth of 368 billion US dollars.
- Russia is in fifth place with 70 self-made billionaires and a total wealth of 374 billion US dollars.
- Switzerland ranks sixth with 41 self-made billionaires and a total wealth of 167 billion US dollars.
- Germany takes seventh place with 38 self-made billionaires and a total wealth of 137 billion US dollars.
- Australia is in the eighth spot with 32 self-made billionaires and a total wealth of 122 billion US dollars.
- France ranks ninth with 29 self-made billionaires and a total wealth of 123 billion US dollars.
- Canada rounds out the top 10 with 28 self-made billionaires and a total wealth of 80 billion US dollars.
Overall, the distribution of self-made billionaires and their cumulative wealth across different countries provides insight into the global economy and wealth creation.
Key Report Findings Regarding India:
- The number of Indians on the list has reportedly risen consistently over the past five years, in accordance with the article.
- In comparison to five years ago, India currently accounts for 8% of the world’s billionaires.
- Only 30% of the billionaires on the list are inheritors, while 70% are autonomously made, in agreement with the list.
- There were 57% of self-created billionaires in India.
- As of right now, there are more autonomous-built billionaires than there were five years ago when there were 69%.
- In conformity with the report, 10% of those who inherited money quickly increased their wealth.
Summary
The 2023 M3M Hurun World Rich List claims there are now fewer billionaires in the globe than there were ten years ago, with five billionaires disappearing per week in the previous year. 3,112 billionaires are included in the ranking, which is 269 fewer than last year (3,384). China and the United States, which together account for 53% of all billionaires worldwide, are the two nations with the biggest number of billionaires.
