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16th Edition of The Wealth Report 2022: India ranks 3rd in billionaire population globally; US Tops

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India-ranks-3rd-in-billionaire-population-globally,-Mumbai-houses-most-of-country's-super-wealthyAccording to Knight Frank’s 16th edition of The Wealth Report 2022, the number of ultra-high-net-worth-individuals (UHNWIs) globally increased by 9.3 percent in 2021 to 6,10,569, from 5,58,828 in 2020. India ranked 3rd in billionaire population globally. United States (US) Tops with most billionaire. 

  • In India, the number of UHNWIs (net assets with US$ 30m or more) has grown by 11% year-on-year (YoY) in 2021, the highest percentage growth in Asia-Pacific (APAC).
  • Objective of World Wealth Report 2022 – To provide an annual assessment of how wealth creation is shaping investment markets, and to highlight opportunities and risks.

The Wealth Report 2022:

i.India – India ranked 3rd in billionaire population globally in 2021with equity markets and digital adoption as the key factors driving the growth in India.

  • Around 69 percent of the super wealthy individuals in India are expected to witness an increase of over 10 percent in their net worth in 2022.
  • Amongst the Indian cities, Bengaluru witnessed the highest growth in the number of UHNWIs with 17.1 percent to 352 followed by Delhi with 12.4 percent to 210 and Mumbai with 9 percent to 1596 in 2021.

ii.Globally – Every region across the world saw an increase in the number of UHNWIs between 2020 and 2021 – Americas (+12.2%), Russia & CIS (+11.2%), Australasia (+9.8%), Middle East (+8.8%), Latin America (+7.6%), Europe (+7.4%) and Asia (+7.2%) – except for Africa, where the UHNWI population declined by 0.8%.

  • Asia continues to be ahead of other regions of the world, the billionaires’ club contributing to 36 percent of the total billionaires in the world in 2021.

From the Report:

Countries with most number of billionaires:

Countries 2021 (actual numbers)2020-2021 (percentage)
United States (US)748 15%
Chinese Mainland 55432%
Russia12120 %

Growth & Decline in UHNWI population: 


Country2020-2021 (percentage Growth)
United States12.6 %
United Kingdom11.3%
Chinese Mainland6.2%


Country2020-2021 (percentage decline)
South Africa-7.1%

Top 3 Indian Cities With Highest UNHWIs:

Indian CitiesNo.of UNHWIs in 2021

New category of The Wealth Report 2022:

i.For the 1st time, Knight Frank has examined the size of the ‘next generation’ of the world’s UHNWI population which is estimated that 135,192 UHNWIs are self-made and under the age of 40, accounting for around a fifth of the total UHNWI population.

ii.With the increase in population over the next 5 years, the global UHNWIs population will grow by 28 %, with Asia and Australasia (+33% each) North America (+28%) and Latin America (+26%).

  • India has ranked 6th in percentage growth of the UHNWI population that is self-made and under the age of 40 years.

Size of next generation in India:

i.In India, the UHNWI population is expected to grow by 39 percent between 2021 and 2026, with 19,006 people expecting to have net assets of USD 30 million or more by 2026.

  • Bengaluru is projected to witness an increase of 89 percent of the UHNWI population and become home to 665 ultra-wealthy individuals by 2026.

ii.Previous estimates – In the last 5 years, Delhi has witnessed an increase of 101.2% followed by Mumbai (+42.6%) and Bengaluru (+22.7%).

Recent related news:

According to the Interim Edition  of Global Wealth Report 2020 released by Credit Suisse – the overall wealth of India’s super-rich decreased by 4.4% to USD 12.83 trillion in 2020 due to the fall in Rupee value.

About Knight Frank:
Senior Partner & Group Chairman- Alistair Elliott
Managing Director (MD), Asia Pacific – Kevin Coppel
Headquarters- London, United Kingdom.