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Hurun

Sunainaa Chadha, March 17, 2022: The Times of India

With a wealth of US$ 4.3 billion and US$ 4.2 billion respectively, Rakesh Gangwal and Rahul Bhatia and the family of “Indigo” airlines are the wealthiest aviation billionaires. Interglobe co-founders improved their rank by 231 positions over the last five years.

NEW DELHI: Despite the Russia-Ukraine war and the continued impact of the Covid-19 pandemic, the rich have only gotten richer with the total wealth of billionaires rising by 4 percent to touch $15.2 trillion in FY 2022, according to the latest rich list by Hurun.

The global list pointed out that there are a total of 3,381 billionaires in the world, up by 153 from last year.

Here are the ten key highlights:

2070 billionaires saw their wealth increase:

2,070 saw their wealth increase, of which 490 were new faces. 1,279 saw their wealth decrease, of which 337 dropped-off. 369 saw their wealth stay the same. The average age was 64. “The Russia-Ukraine war, Covid-19 and the US-China Trade War contributed to 301 billionaires dropping off the list this year, almost one a day. However, continued digitalisation of the economy, tech innovations as well as inflation helped 490 new faces making the list, giving a surprising net increase of 153 billionaires," said Rupert Hoogewerf, Hurun Report chairman and chief researcher.

2 new faces in the Top 10: Sergey Brin and Larry Page of Alphabet broke into Top 10 at the expense of Mark Zuckerburg and China-based bottled water tycoon Zhong Shanshan.

Top ten billionaires in the world

The Top 10 added US$235bn over the year and are now worth US$1.3 trillion or 9% of the total list. 7 are from the USA, 2 from France and 1 from India.

Rank	Name	Wealth US$bn	Change YOY	Main Company	Age	Country of residence
1-	Elon Musk	205	4	Tesla	50	USA
2-	Jeff Bezos	188	âˆ’1	Amazon	58	USA
3-	Bernard Arnault	153	34	LVMH	73	France
4-	Bill Gates	124	13	Microsoft	66	USA
5↑	Warren Buffett	119	31	Berkshire Hathaway	91	USA
6*	Sergey Brin	116	51	Alphabet	48	USA
7*	Larry Page	116	51	Alphabet	48	USA
8↑	Steve Ballmer	107	34	Microsoft	65	USA
9↓	Mukesh Ambani	103	24	Reliance	64	India
10↓	Bertrand Puech & family	102	28	Hermes	86	France

China leads:

China led with 1133 billionaires, up 75, followed by USA at 716. Between them, China and the US have 55% of the world's billionaires. By city, Shenzhen added 8 billionaires to 113, overtaking New York to become the world's third preferred city for billionaires to live in . In fact now the top 3 cities for billionaires are all in China: Beijing, Shanghai and Shenzhen. London stands at fifth.

  India continues to be the third-largest billionaire-producing nation in the world:

There are 215 billionaires residing in India and 58 new additions, which means the country now has 249 billionaires, of which 25 live in India. In fact the number of Indian billionaires has doubled every five years since the last decade. 59% of the country’s billionaires are self-made, thus indicating that the new-generation entrepreneurs are financially-wise, asset-rich and investment-vibrant.

Richest Indian and the person who added the most wealth in the last year in India:

With $103bn, Mukesh Ambani, 64, of Reliance is the richest person in India. Chairperson of Adani Group Gautam Adani added the most wealth over the last one year at $49 billion. Adani added Rs 6,000 crore every week over the year. He is also the second-richest Indian and Asian with a total worth of $81 billion.

Healthcare, Consumer Goods, and Chemicals led the way, with 46, 29, and 23 billionaires each.

The average age of billionaires in India is 66.

There are a further 34 billionaires of Indian origin, living outside of India, led by LN Mittal of ArcelorMittal in London.

180 saw their wealth increase, of which 51 were new faces. 23 decreased and 11 dropped off. 12 stayed the same.

Over the last 10 years, Indian billionaires added $ 700 billion to their cumulative wealth – this is equivalent to Switzerland’s GDP and twice the GDP of UAE.

While the maximum city Mumbai is home to 72 billionaires, followed by the National Capital New Delhi (51) and Bengaluru (28), India’s Silicon Valley, is ranked third.

India is also home to the richest aviation billionaires in the world:

With a wealth of US$ 4.3 billion and US$ 4.2 billion respectively, Rakesh Gangwal and Rahul Bhatia and the family of “Indigo” airlines are the wealthiest aviation billionaires. Interglobe co-founders improved their rank by 231 positions over the last five years.

Energy, Semiconductors software had had a great year:

Industries that had a great year include energy, especially renewables, led by India-based Gautam Adani of Adani Group, China-based Zeng Yuqun of CATL and Luo Liguo of Hoshine, and US-based Harold Hamm of Continental Resources; biotech, led by Germany-based Ugur Sahin of BioNTech, Stéphane Bancel of Moderna and China- based Xie Liangzhi of Sinocelltech; luxury goods, led by France-based Bernard Arnault of LVMH and Bertrand Puech of Hermes, and HK-based Henry Cheng Kar-shun of Chow Tai Fook; semiconductors, led by US-based Jen-Hsun Huang of Nvidea, China-based Li Min of Rockchip Electronics and Taiwan-based Morris Chang of TSMC; software services, led by Bill Gates and Steve Ballmer of Microsoft, Larry Ellison of Oracle, China-based Tang Xiaoou of SenseTime; shipping, led by Switzerland-based Klaus-Michael Kuhne of Kuhne & Nagel and China-based Yang Shaopeng of SITC Maritime.

The year of IPOs:

This year has been a strong year for IPOs, with 94 billionaires minted from 77 IPOs. The year was also a moment of reckoning for the India’s startup ecosystem which witnessed major startup IPOs including 4 companies in Hurun Global Unicorn Index. 2021’s IPO story began with a bang but fizzled out towards the end owing to bubble concerns. 10 Tech companies that listed in 2021 cumulatively lost US$23bn or Rs 1,72,000 crore since listing, resulting in a momentary pause of the tech IPO “Ashwamedham”.

With a wealth of $3.3 billion, Byju Raveendran of Byju’s, an online tutoring start-up, is the world’s third richest entrepreneur from the education sector.

Crypto billionaires:

2021 was also a watershed moment for wealth creation in crypto, which produced 17 'known' billionaires, led by Singapore-based CZ Zhao Changpeng, 45, of Binance with $232 billion, and Sam Bankman Fried of FTZ with $21 billion. Last year's number one Brian Armstrong of Coinbase dropped to third with $10 billion. The top three crypto billionaires are from crypto exchanges. Coinbase listed at a blockbuster US$100bn valuation in its Nasdaq debut in April, launching Brian Armstrong and Frederick Ernest Ehrsam III into the 2022 M3M Hurun Global Rich List. However, due to volatility of the crypto asset class, Coinbase is currently trading at 60% discount to the listing price.

Source of wealth:

Financial services is still number one, accounting for 9.3% of world's billionaires. Healthcare overtook real estate to second place in terms of number of billionaires, while retail overtook consumer goods at fourth place.

Most billionaires from one company:

Swedish investment company EQT created 14 billionaires, followed by Hangzhou-based Alibaba and Minnesota-based Cargill with 13 each.

Space exploration:

Elon Musk is world's richest space billionaire, through his holding of SpaceX.

Rich List, India: 2022

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