India is home to as many as 7,730 ultra high net worth (UHNW) individuals whose combined wealth amounts to a whopping $925 billion,says a study.
According to the world ultra wealth report 2012-13,by Wealth X,a global wealth intelligence and prospecting company,out of the 7,730 UHNW individuals,109 are billionaires. In the corresponding period last year there were as many as 8,215 with a total wealth of $980 billion.
The Wealth-X analysis shows that the 109 billionaires represent the top 1.4 per cent of the UHNW population,and controls 20.5 per cent of the total fortune attributable to the ultra wealthy segment. On an average,these billionaires are worth close to $1.7 billion each.
Meanwhile,the global UHNW population grew by a modest 0.6 per cent to 1,87,380 with a combined wealth of $25.8 trillion.
The combined wealth attributable to this segment,however,shrank by 1.8 per cent from a year ago largely driven by the euro zone crisis and a slowdown in emerging economies,the report said.
Asia saw the largest percentage reduction in UHNW population amongst the regions (2.1 per cent) owing to poor equity performance,particularly in Japan,China and India,the report said.
Ultra rich club
* According to Wealth X,India has 7,730 UHNW individuals,of which 109 are billionaires
* The billionaires represent the top 1.4% of the UHNW population and controls 20.5% of the total fortune attributable to the ultra wealthy segment.