WEALTHIEST INDIVIDUALS
Damani & Jhunjhunwala emerge as richer dons of D-Street when most lost crores in Q4
The Jhunjhunwala family's wealth in listed firms crossed the ₹50,000 crore mark for the first time in the March quarter, while about 17 individuals held portfolios worth over ₹1,000 crore as of March 31, 2024.
Mumbai and Delhi feature among the World's Top 50 Wealthiest cities, surpassing Washington DC
Mumbai and Delhi have secured positions among the world's top 50 wealthiest cities, surpassing Washington DC in wealth concentration. This ranking, released by Henley and Partners, highlights the economic prowess of these Indian cities and their growing appeal to high-net-worth individuals (HNWIs).
Titanic's wealthiest passenger's gold pocket watch sells for record £1.17 million at auction
A gold watch belonging to John Jacob Astor, the wealthiest passenger on the Titanic, was sold for £1.17 million ($1.46 million) at an auction in England, setting a record for the highest amount ever fetched by an item associated with the 1912 tragedy. The watch, engraved with "JJA," was recovered from Astor's personal effects after his death on the Titanic, where he ensured his wife's safety before perishing in the disaster. The auction also featured other Titanic-related items, including a violin case that belonged to the orchestra leader.
Here's how much wealth was declared by the richest and poorest candidates in 2nd phase of LS polls
India's second phase of Lok Sabha elections sees over 1,200 candidates vying for 88 constituencies across 13 states and Union territories. Wealth disparities among candidates are evident, with Karnataka Congress leader Venkataramane Gowda being the wealthiest, and Laxman Nagorao Patil having the lowest assets. Several candidates, including Rahul Gandhi and Hema Malini, are contesting, reflecting a diverse socio-economic mix among contenders.
Andhra Pradesh polls: With Rs 5,785 cr assets, TDP LS contestant Chandra Sekhar stirs poll attention
TDP candidate P Chandra Sekhar has declared his family assets at Rs 5,785 crore in his election affidavit, potentially making him one of the wealthiest contestants in the current electoral race. His individual assets stand at Rs 2,448.72 crore, while his wife Sriratna Koneru has Rs 2,343.78 crore and children have nearly Rs 1,000 crore. Chandra Sekhar's family has a liability of Rs 1,138 crore to JP Morgan Chase Bank of USA in the form of Line of Credit.
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More Indians in global rich list as Chinese slip, Europeans lag
Hurun's Rupert Hoogewerf discusses the wealth disparities among Indians, Chinese, and UK individuals. He emphasizes the confidence of Indian businessmen and the growth in the number of affluent individuals on the Hurun India Rich List.
More Indians scale Mt Rs 1,000 cr as Chinese slip, Europeans lag
According to the Hurun India Rich List 2023, there are 1,319 individuals with wealth over Rs 1,000 crore in the country, marking an increase of 216 individuals and 278 new entrants. This is the first time the list has surpassed the 1,300 mark, recording a 76% increase over the last five years.
71 % of India's wealthiest are keen to invest in luxury real estate: Report
71% Wealthy Indians express a desire to invest in luxury real estate in the next 12-24 months, finds India Sotheby’s International Realty’s annual survey.
Dubai and the UAE: A global wealth nexus
Dubai and the UAE are flourishing global wealth magnets, offering tax benefits, a thriving business environment, and strategic allure for HNWIs and businesses pursuing prosperity.
Luxembourg's housing predicament takes center stage ahead of elections
Luxembourg is facing a severe housing crisis, with high costs and limited availability of affordable housing. Rent prices have surged, and many Luxembourgers are seeking housing across borders in neighboring countries. The housing issue has become a key topic in the upcoming elections, with political parties making promises to address the crisis. However, challenges such as the lack of inheritance tax and the influx of foreign workers contribute to the problem.
Richer India bucks gloomy world trend as it loaded wealth when others lost
India has defied the global trend of declining wealth in 2022, according to a report by Credit Suisse-UBS. The country's ultra-high-net-worth and billionaire populations are projected to grow significantly in the coming years. Singapore also experienced an increase in wealth, with median and average household wealth rising in 2022. These findings highlight the resilience of the Indian and Singaporean economies amid global economic challenges.
HSBC is betting big on India's $400 billion pile of wealth
The bank is planting its sights more firmly on the ultra-rich in India, where the wealth held by billionaires has crossed $400 billion from $148 billion in 2016. It also plans to launch an onshore private banking service in the South Asian country this year.
Indian banks much stronger to be affected by individual incidents, RBI Governor Das says amid Adani crisis
RBI Monetary Policy: "The RBI has made its own assessments. The large exposure guidelines prescribed by the RBI are fully complied with by all the banks," Reserve Bank of India Governor Shaktikanta Das said during a post-policy conference on being asked if RBI will give guidance to domestic banks about their exposure to Adani Group. The comments come amid the Adani crisis, after a report by US short-seller Hindenburg Research questioned conglomerate's debt levels and use of tax havens.
Budget 2023 should rationalise, standardise capital gains tax, and re-index its long-term benefits
Rationalising and standardising tax rules for capital gains by streamlining the holding period, unifying tax rates across various asset classes, and re-indexing the assessment of long-term capital gains would supplement the government’s other taxpayer-friendly initiatives and improve compliance further.
View: India’s wealthiest need to give more, and more often
Despite economic uncertainty and the continuing impact of Covid-19, Indian philanthropy is growing steadily as evidenced,. Social sector funding, primarily driven by the government, has grown approximately 12% annually over the past five years.
'Pharma entrepreneurs share in India's wealthiest list stands the highest'
The Covid-19 pandemic seemed to have helped in enhancing the wealth of a few players. In particular, Cyrus Poonawalla’s wealth surged by onefourth this year, making the chairman of Serum Institute of India the third richest with a cumulative net worth of Rs 2,05,400 crore.
Indian millionaires count to grow 63% over next five years: Report
India’s billionaire count to increase to 162 by 2025 from 113 now; one out of five Indian ultra-high networth individuals planning to buy a new home in 2021.
HCL Tech's Roshni Nadar Malhotra is wealthiest Indian woman. Here's full list
The cumulative wealth of women wealth creators on the rich list stood at Rs 2,72,540 crore, the report said.
Mukesh Ambani tops Hurun India Rich list 2020, Radhakishan Damani debuts in top 10
Radhakishan Damani, the founder of Avenue Supermarts, debuted in the top 10 wealthiest individuals ranking in the Hurun India Rich List 2020, at the seventh position.
World's richest lose $117 billion in one-day market meltdown
Amazon.com Inc. founder Jeff Bezos declined the most, shedding $3.4 billion.
'India sixth wealthiest country with total wealth of USD 8,230 bn'
The US is the wealthiest country in the world with a total wealth of USD 62,584 billion, followed by China (USD 24,803 billion) at the second place and Japan (USD 19,522 billion) at the third place.
Hinduja brothers second-wealthiest in UK's annual rich list
London-based Srichand and Gopichand Hinduja are listed with an estimated fortune of around 20.64 billion pounds, compared to Ratcliffe's 21.05 billion pounds.
Wealth migration; 7,000 super-rich Indians shifted base in '17
As per the migration trends, Indian HNWIs moved to the US, the UAE, Canada, Australia and New Zealand, while Chinese HNWIs moved to the US, Canada and Australia.
India 6th wealthiest country with total wealth of $8,230 billion: Report
According to a report by New World Wealth, the United States is the wealthiest country in the world as the total wealth held in 2017 amounted to USD 64,584 billion
Three of Britain’s four wealthiest are Indians
David and Simon Reuben, of Iraqi Jewish origin but Mumbai-born, have slipped from first to third place this year with an estimated wealth of 14 billion pounds.
Three of Britain’s four wealthiest people are India-born
The Sunday Times Rich List 2017 places the Hinduja brothers at the top of 134 billionaires in the country.
Mumbai wealthiest city in India with total wealth of $820 billion, finds report
According to New World Wealth, Mumbai is followed by Delhi and Bengaluru at the second and third place respectively.
India's large population helps push it to 7th position in wealthiest nations list
The US is the wealthiest in the world in terms of total individual wealth held ($48,900 billion) while China stood second and Japan third.
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