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D.Muthukrishnan (Muthu), Certified Financial Planner- Personal Financial Advisor

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How many people in India are rich in 2016?

Posted by Muthu on November 25, 2016

Every October, Credit Suisse publishes the global wealth report.

This year, they have published the report in November.

For last few years, we are sharing some interesting data points from the above report.

For the purpose of the report, they have taken into account only adult population.

For dollar to rupee conversion, the rate assumed is 1 USD = Rs.68.

A country is considered rich, if the average wealth per person is over $100,000 (Rs.68 lakhs).

The richest country in the world is Switzerland with average wealth per person of $562,000 (Rs.3.82 crores).Switzerland is the only country in the world where the average wealth per person has crossed half a million dollars.

The top ten richest countries in the world are Belgium, Denmark, Norway, Singapore, Sweden, Switzerland, Australia, France, UK and USA.

The average net worth of an individual in the world is $52,800 (Rs.36 lakhs).

73.2% of the world population has wealth less than $10,000 (Rs.6.8 lakhs).

18.5% of the world population has wealth between $10,000 (Rs.6.8 lakhs) to $100,000 (Rs.68 lakhs).

7.5% of the world population has wealth between $100,000 (Rs.68 lakhs) to $1 million (Rs.6.8 crores).

0.7% of the world population has wealth more than$1 million (Rs.6.8 crores).

The top 1% of the population owns 50% of the total assets.

The top 10% of the population owns 89% of the total assets.

If you’ve wealth of $744,400 (Rs.5.06 crores), you’re among the wealthiest 1% of the world.

Wealth of $71,600 (Rs.48.7 lakhs) would put you among top 10% of the world population.

If you’ve wealth of $2220 (Rs.1.51 lakhs), you’re among the wealthiest 50% of the world.

We are a very poor country and we all know it.

96% of the population in India has wealth below $10,000 (Rs.6.8 lakhs).

3% of the country is classified as middle class having wealth above $13,700 (Rs.9.3 lakhs).

0.3% of our population is worth above $100,000 (Rs.68 lakhs).

There are 1.78 lakh people who are worth above $1 million (Rs.6.8 crores).

There are 2260 people who have above $50 million (Rs.340 crores).

There are 1040 people who have above $100 million (Rs.680 crores).

Total wealth of the country is $3 trillion predominantly in real estate and gold.

The average wealth per individual is $3835 (Rs.2.61 lakhs) and the median wealth is $608 (Rs.41,344).

Median wealth means that half of our population has less than Rs.41,000 as wealth.

We’ve a very long way to go even to become a middle income country.

Let us hope it happens in next 2 decades.

10 Responses to “How many people in India are rich in 2016?”

  1. Mandar said

    What is the defination of ‘Wealth’ here ?

  2. Madikeri Abu said

    Let us hope it happens in next 2 decades…. And also let us hope we will never have a UPA 3 and Pappu will remain Pappu and will not become PM and likes of Mamata, Mulayam, Mayawati, Lalu, Kejri and commies … etc will just die a natural death soon.

  3. viraj shah said

    Sir,Where is a black money component in this whole assessment?

  4. Chiranjit Dutta said

    Hello Sir,

    Thanks for the post it is a knowledgeable as well as an eye opener truth of the financial and wealth inequality in our country.
    Even if we accept that there is huge inequality in wealth distribution in our country, on the other hand, it is also hard to accept that whopping 96% of our adult population are worth less than $10000 (6.8 lac).

    Just for knowledge purpose, I wanted to know in brief what is the methodology used by such a renowned institution like Credit Suisse to come up with these numbers. I think it takes a whole lot of data to figure out such kind of number for a country which has a population of over 120 crores.

    Thanks in advance

  5. Vihan said

    Sir does all these calculations include fixed assets like properties and gold, silver ?

  6. Ved prakash said

    I not think that india is doing improvement but india have many amount of black money like government servant why they want job in government they how are our government someone they that i have proud to be indian but i have shame to say that i am indian good bye.

  7. peeyush said

    i think the data is not correct.. only delhi and mumbai itself have 1 crores people, they have 1million $ wealth.

  8. ak47 said

    It true huge population are below poverty line.so many indian live without food and shelter.and our some rich are show our wealth.it so bad.almost all government servent are chor.who just looting poor people fund.it shame.all people have equal right of food selter and job.it also we are chor country in the world.and indian people also so bad.i don’t like these kind people.indian people have not any moral.kaha gaye wo log.jo desh ke liye jeete or maarte the.ye wo desh nahi raha jo kabi tha.ye desh lalgio ka desh baan gaya.

  9. Athmanathan said

    Total wealth of India is reported as $3 trillion in land, real estate and gold which appears to be far less. This particular statistic needs revision. I have read somewhere that it must be not less than $15 trillion.

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