According to a survey conducted by Hurun, more than forty billionaires in India have suffered annual losses of more than one billion dollars, in contrast to 178 billionaires in China and 123 billionaires in the United States, respectively, over the course of the previous year. The lead researcher was interviewed by Hindustan Times in order to comprehend the reasons behind it.
According to the findings of the M3M Hurun Global Rich List 2023, which was published on Wednesday, the fortune of 41 Indian billionaires has decreased by more than a billion dollars over the course of the past year, bringing the total loss to $122.7 billion.
According to the findings of the study, the number of billionaires in the world decreased by approximately ten percent to approximately 13.7 trillion dollars in 2022 as a result of the death of five billionaires every week. India came in third, behind China and the United States, both of which had more millionaires lose more than $1 billion in wealth over the past year than India did (178 and 123, respectively). The entire wealth that was lost in China came to $482.2 billion, while the total wealth lost in the United States was $603.7 billion. (ALSO READ: China leads the list of countries with the “most billionaires,” followed by the United States and India.)
In order to gain a better understanding of what caused India to sustain one of the most significant losses, Hindustan Times conducted an interview with Anas Rahman Junaid, the managing director and principal researcher of Hurun India.
According to Junaid, the state of the world has a significant effect on the significant decline in the country’s wealth. According to him, the rise in interest rates, the appreciation of the United States dollar relative to the Indian rupee by 12%, the bursting of a Covid-driven tech bubble, and the continuing effects of the Russia-Ukraine war were all factors that had an effect on Indian businesses.
