Wise Wealth Advisors

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

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How many people in India are rich in 2017?

Posted by Muthu on November 15, 2017

Credit Suisse publishes global wealth report every year.

This year report can be accessed here.

We’re sharing some interesting data from this report every year.

They have taken only adult population into consideration for the purpose of this report.

For dollar to rupee conversion, the rate assumed is 1 USD = Rs.65.

A country is considered rich, if the average wealth per person is over $100,000 (Rs.65 lakhs).

You would be surprised to know that Cyprus joined the list of rich nations this year.

The richest country in the world is Switzerland with average wealth per person of $537,000 (Rs.3.50 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 Switzerland, Australia, USA, New Zealand, Norway, Denmark, Belgium, UK, Singapore and France.

If you are a dollar millionaire (Rs.6.5 crores), you are among the top 0.7% of the world population.

If you’ve wealth of $770,368 (Rs.5 crores), you’re among the wealthiest 1%

The average net worth of an individual in the world is $56,540 (Rs.37 lakhs).

70.1% of the world population has wealth less than $10,000 (Rs.6.5 lakhs).

21.3% of the world population has wealth between $10,000 (Rs.6.5 lakhs) to $100,000 (Rs.65 lakhs).

7.8% of the world population has wealth between $100,000 (Rs.65 lakhs) to $1 million (Rs.6.5 crores).

The top 1% of the population owns 50.1% of the total assets.

The top 10% of the population owns 87.8% of the total assets.

Coming to India, we’ve 245,000 people who are dollar millionaires and above.

0.5% or 42 lakh people have wealth above Rs.65 lakhs but less than Rs.6.5 crores.

7.2% or 6 crore people have above Rs.6.5 lakhs but less than Rs.65 lakhs.

The balance 92.3% of population, roughly 77 crore adults, have less than Rs.6.5 lakhs. This is the most poorer section of our population.

There are 1820 people who have above $50 million (Rs.325 crores).

There are 760 people who have above $100 million (Rs.650 crores).

A dollar billionaire is the one who owns more than Rs.6500 crores.

Out of the 2043 billionaires in the world, 101 live in India.

Total wealth of the country is $5 trillion predominantly in real estate and gold.

The average wealth per individual is $5976 (Rs.3.88 lakhs) and the median wealth is $1295 (Rs.84,175).

Median wealth means that half of our population has less than Rs.85,000 as wealth.

Going through this report reaffirms that other than spending and saving; giving too needs to be part of our financial plan.

9 Responses to “How many people in India are rich in 2017?”

  1. Gopinath said

    Does this report include primary residence and gold

  2. phaktz said

    Sir, this data is not correct as I believe only in Delhi or Mumbai 2.45 lakhs millionaire are there.

  3. KK said

    “giving too needs to be part of our financial plan” well appreciated!!!

  4. KK said

    Dear Muthu, Would be interested to know if we have any statistics on overall well being of the worlds population also 🙂

  5. Sundaram said

    What will be Indian Net-worth considering purchasing power parity ?

  6. Sundaram said

    As one reader Mr. Gopinath asked if the report includes house and gold, I searched on net and found flag:
    Credit Suisse, for instance, says it defines millionaires as those with total wealth of $1 million or more. It says it measures both “financial” and “nonfinancial” wealth, in other words anyone with net assets of more than $1 million, i.e. your house, art collection and other assets.

  7. Athmanathan said

    As per the report average wealth is only ₹85000/. If that be so then multiplying 85000 into at least 130 crores of people gives 17 trillion in dollar terms. Do the math yourself and confirm.

  8. Athmanathan said

    OK. How can GDP of India is equal to total wealth of this nation? GDP is annual income whereas total wealth is accumulated over a period of say 30 years in a person’s ice and inherited land and gold are not left behind in this method. If average savings per year is 20% then rough estimate gives total wealth as 10trillion dollars. ie. Our GDP $2 trillion x 5 times.

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