7,730 Indian HNIs collectively own $925 billion

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Even though the number of ultra high net worth (UHNW) individuals in India fell, over seven thousand UHNW individuals still collectively control $925 billion.

A PTI story says the World Ultra Wealth Report 2012-13 by Wealth X, a global wealth intelligence and prospecting company, pegs the number of Indian UHNWIs at 7,730, 109 of which are billionaires. Interestingly, for the same period last year, 8,215 UHNWIs controlled a total wealth of $980 billion.

Wealth Report

India's 109 billionaires, who control 20.5 per cent of the total fortune attributable to the ultra wealthy segment, are worth (on average) $1.7 billion each.

The report adds that Asia's rich have been the biggest losers; Indian UHNWIs have lost out because of the moderate growth rate, see-sawing equity markets and fall against the dollar.

The Wealth-X report, which focuses on individuals with a networth of over $30 million, says there are 5,775 Indians with a net worth of between $30 million and $100 million; 845 with a fortune between $100 million and $200 million; 855 with a fortune between $200 million and $500 million and 150 with a net worth between $500 million to $999 million.