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India at no.3 on list of centi-millionaires to overtake China

India stands in third position in the world’s first ever global study on the rise of centi-millionaires – individuals with assets of more than Rs 830 crore ($100 million), with poverty levels, inflation and hunger. Our country has 1,132 beating countries like the UK, Russia and Switzerland, in a swift growing and powerful class of super-rich tech titans, financiers, multinational CEOs and heirs, out of the world’s 25,490 centi-millionaires.

Within a decade, India will overtake China as the fastest growing market for centi-millionaires, with an anticipated 80% growth rate in individuals worth over $100 million. A financial journalist, Misha Glenny said, “At around 57%, the growth of centi-millionaires in Asia will be twice that of Europe and the US over the next decade. Concentrated mainly in China and India, the centi-millionaires in these nations are set to eclipse their European and American peers.”

Of the world’s 25,490 centi-millionaires, the US, which ranks at number 1, is home to 38% (9,730) of global centi-millionaires, despite constituting only 4% of the world’s total population. It is followed by big emerging markets of China and India in second and third place, with 2,021 and 1,132 centi-millionaires respectively. The UK is in 4th place with 968 centi-millionaires and Germany is in 5th place with 966.

The next positions continue with Switzerland (808), Japan (765), Canada (541), Australia (463), and Russia (435).

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