India’s Super Rich Population is Exploding!

[SarthakGanguly]

What we need is a Socialist revolution so that the wealth can be returned to the masses instead of being concentrated in few hands like those that belong to extremely rich guys like @SarthakGanguly and @Joe Shearer .

Both have a jacuzi, a mini bar stocked with the best Cognac in the world and seats made out of the hide of endangered species in their personal limousines and both use a $100 bill as a wet-wipe to clean their hands after dinner !


I'd add @Dillinger to the list purrr as a fellow former Accountant....I know...apniii jaiiib mein tou paisaa hiii nahin hotaaa !

 

[Donatello]

It was designed by Perkins and Will - a global architecture and design firm - was considered the most feasible design to survive an 8-Richter scale earthquake maintaining luxury and grandeur of the 27 storey private residence at the same time at a whopping cost of $1 Billion. Moreover it's just an example of rich Indians' lack of empathy for the poor.

What do you mean lack of empathy for the poor?

Who are you to judge that? Maybe he does charity and donate but no one knows?

It's their money, they can do whatever with it.

 

[Chanakya's_Chant]

What do you mean lack of empathy for the poor?

Who are you to judge that? Maybe he does charity and donate but no one knows?

It's their money, they can do whatever with it.

That's the common public perception in India about him - there were alleged briberies in the land sale and grant of NOC's for the construction of the building - the land on which it is built used to be an orphanage until it was sold to the Ambanis' through alleged corrupt practices - The person who lives in there should be concerned about what he sees around him and can he make a difference? If he is not, then it's sad because this country needs people to allocate some of their enormous wealth to finding ways of mitigating the hardship that people have. Do what TATA's did - the reason why the TATA's command enormous respect from the common masses.

 

[mike2000]

India’s super rich population is exploding
India’s super rich are getting richer—and doing so much faster than most Asian countries.

The 27-story Antilia tower, built by Indian billionaire Mukesh Ambani in Mumbai, is deemed to be the World's second most expensive residential property.​

Between 2013 and 2014, the number of ultra high net worth (UHNW) individuals in India grew by 9.49% to 8, 595 while the amount held by them increased 8.34% to $1, 013 billion, according to the World Ultra Wealth Report 2014.

That’s the fastest rate of growth in UNHW individuals among the 10 leading countries that house the most super rich.

At the same time, Japan and China—the two Asian countries with most UHNW individuals—are witnessing a slowdown.

The number of super rich in Japan grew by 3.15% in 2014 and the amount they collectively hold rose by 4.7%.

In China, their population grew by 3.7% in 2014, after declining 5.06% in 2013. The total amount held by the Chinese super rich swelled by 3.3% last year.

Even though the number of UHNW individuals in India has risen steadily since 2012, their numbers (8, 595) remain small compared to Japan’s UHNW population of 14,720—the highest in Asia—and China, which is home to 11,070 super rich citizens.

But Indian cities like Mumbai (2,440) and New Delhi (2,130) now house more super rich individuals than Singapore (1,395), Shanghai (1,535) and Seoul (1,095). India’s financial capital, in fact, has a larger population of UHNW individuals than Beijing (2,415).

The report defines UHNW individuals as people with a net worth of at least $30 million, including shares held in public and private companies along with investments in different assets such as real estate.

Globally, US has the highest number of UHNW individuals with 69, 560 followed by Germany, Japan, UK, China and India.

In 2014, the number of UHNW individuals in the world increased by 6% to 211,275, while their wealth increased 7% to nearly US$30 trillion. This increase can be attributed mainly to the robust global equity markets that allowed them make money off stocks.

In all, 211,275 individuals, representing about 0.004% of the global population, hold about 13% of the world’s total wealth.

But Asia’s performance remained weak compared to last year. “One of the reasons for the comparatively slower UHNW growth in Asia is the significant number of UHNW individuals who relocated outside of this region, limiting internal gains,” the study said.

The slowdown in the growth of the super rich in Japan and China is also a sign of “faltering confidence in the effectiveness of Abenomics in Japan and indications of overleveraging and a slowing real estate market in China,” the report said.

Nonetheless, Indian and Chinese cities are likely to takeover Japan as UNHW hubs within the next five years, the report added, as their own super rich populations grow and wealthy foreigners look to tap into Asia’s growth momentum.

Source:- India’s super rich population is exploding – Quartz

Wow never knew the U.K was so wealthy/ahead in this field. Interesting.

 

[The enlightened]

Wow never knew we were so wealthy/ahead in this field. Interesting

What we? Are you a billionaire?

 

[mike2000]

What we? Are you a billionaire?

No, not yet(still a millionaire only).

Well just meant the U.K being third is a surprise.

 

[Chanakya's_Chant]

Wow never knew the U.K was so wealthy/ahead in this field. Interesting.

Britain has been a wealthy state since the colonial era exploitation. Gross domestic product per capita – the total size of the economy divided by every man, woman and child in Britain – was £21,692 in 2012. The measurement was only higher in the United States, Canada and Germany.

That means the UK was ahead of Japan, France and Italy as well as the emerging 'BRIC' economies of Brazil, Russia, India and China. In 1997, the UK was only the sixth wealthiest nation in the world, behind the US, Canada, Japan, Germany and France.

Britain fourth in world rich list, with average families better off than France and Japan | Daily Mail Online

But like any other country on the planet Rich-Poor gap/deficit prevails in UK as well.

Britain's richest 1% own as much as poorest 55% of population | UK news | The Guardian

 

[The enlightened]

No, not yet(still a millionaire only).

Well just meant the U.K being third is a surprise.

Yeah Just pulling your leg.

So you are a millionaire? Are you this guy?
The Internet Loophole That Made One Man a Millionaire! | The Money Expert

 

[ito]

Dayymnn..Yes i have seen it first hand.. Just sticks out like a sore thumb around that area.. It is estimated to be worth $1 Billion but the cost to build was somewhere around $70 Million.. Still a shyt load of money

Irony is it is said the Ambani's bought the land that belonged to an orphanage after a hefty bribe to the local authorities

Ratan Tata, Tata Group former chairman, said: "The person who lives in there should be concerned about what he sees around him and ask can he make a difference. If he is not, then it's sad because this country needs people to allocate some of their enormous wealth to finding ways of mitigating the hardship that people have."

 

[jamahir]

nonsense thread.

reality of india is...

Death, hunger stalk Indian tea-estate workers.

India is Suicide Capital: World Health Organisation (WHO)

and many things more... no people are as delusional as patriotic indians.

 

[The enlightened]

nonsense thread.

reality of india is ( Death, hunger stalk Indian tea-estate workers ).

That doesn't take away anything from the super-rich.

 

[jamahir]

That doesn't take away anything from the super-rich.

i know, and it is the classic condition for a people's revolution, except that most of the "people" are too selfish, careless and lazy to start a revolt.

 

[The enlightened]

i know, and it is the classic condition for a people's revolution, except that most of the "people" are too selfish, careless and lazy to start a revolt.

Thats not possible. The 'Rich' control everything via their proxy - the government. Any revolution (serious) will be crushed by the paramilitary - China style.
And if you are 'selfless, caring, and super-active', how come you didn't start it already.

 

[jamahir]

Thats not possible. The 'Rich' control everything via their proxy - the government. Any revolution (serious) will be crushed by the paramilitary

yes, quite that... there are 100,000+ paramilitary, police, salwa judum milita, airforce trying to kill less than 10,000 maoists.

And if you are 'selfless, caring, and super-active', how come you didn't start it already.

i am doing my bit... been in socialist activism for eleven years... i have understood that a revolution cuba-style, russia-style, libya-style won't possibly work for india.

 

[The enlightened]

yes, quite that... there are 100,000+ paramilitary, police, salwa judum milita, airforce trying to kill less than 10,000 maoists.

Oh **** no. Don't tell me you actually support those terrorists.

i am doing my bit... been in socialist activism for eleven years... i have understood that a revolution cuba-style, russia-style, libya-style won't possibly work.

So what have you done? (serious)