- The top 10% alone earns 33% of all income.
- 46% of the income is accounted for by the top 20% of the people.
- The lowest 20% accounts for only 8% of incomes.
- India's 40 billionaires are worth $351 billion
- Its four richest –Lakshmi Mittal, Ambani, Anil Ambani, and Mr. Kushal Pal Singh – hold more than half that.
- India's four wealthiest men are now worth more than China's 40 wealthiest combined.
- The total wealth of the top 2 Indian billionaires ($52.1 billion), almost double that of all 20 Chinese billionaires together.
- The concentration and wealth of the Indian billionaires ($191 billion dollars) far exceeds the wealth of their Chinese counterparts ($28.9 billion dollars).
- The wealth of 35 billionaire families exceeds that of 800 million poor peasants, landless rural workers and urban slum dwellers.
- Only 3 million Indians – from a working-age population of 321 million – hold stocks. A further 3.5 million hold stocks through mutual funds.
We have more millionaires than many 'rich' countries!
- United States - 415
- Germany - 55
- Russia - 53
- India - 40
- Britain - 29
- Turkey - 25
- Japan - 24
- Canada - 23
- Taiwan - 21
- China, Brazil, Spain – 20 each
Source: Forbes, 2007.
and in 2008
- For the first time ever, the number of worlds billionaires crossed into four figures, reaching 1,125.
- The total net worth of the group is $4.4 trillion, up $900 billion from last year.
At number 4, the ranking remains the same for India
- USA, 469
- Russia, 87
- Germany, 59
- India, 53
Though there are a few surprises in the details!
- 4 of the top 8 are from India!
- India had only 4 billionaires in 2004, 40 in 2007 and 53 in 2008.
... a rather rapid rise.
Source: Forbes, 2008.