InvestorQ : How much value addition has been made to the wealth of Indian Billionaires in 2020?
vani Patil made post

How much value addition has been made to the wealth of Indian Billionaires in 2020?

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Anjali Desai answered.
5 months ago
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While 2020 has been a year of unfortunate events, some people managed to make the most out of it as well. That is what we call turning crisis into opportunity. According to the reports, during the first four months, i.e. April to July, of the coronavirus induced pandemic, Indian Billionaires managed to increase their combined wealth by three times than it was before the pandemic. The net worth of these billionaires has been increased by 35% which is more than thrice and valued at $423 billion.

The net worth of India’s richest man, Mukesh Ambani, rose by over 73% over the past year to Rs 6.52 lakh crore. Whereas, the wealth of the second richest man, Gautam Adani’s wealth stood at $25.2 billion, being the second-highest in the country. With this, Reliance Industries Limited’s Chairman, Ambani is the only Asian tycoon in the list of the world’s top 10 richest people.

If you look at the graphs for income distribution, it is surprising to note that India’s richest 1% population holds 42.5% of national wealth while the bottom 50% (majority population), owns only about 2.8% of the said wealth. If you will look at the top 10% of the population, it holds about 74.3% of total national wealth while the other 90% holds about 25.7% of the total national wealth.
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