Hyderabad Is Home To The 2nd-Highest Number Of Ultra-Rich People.

Pandemic impacting businesses globally, India has the 3rd highest number of billionaires in the world, Knight Frank's Wealth Report 2022 shows. The population of billionaires in the country grew by 24% to 145 billionaires in 2020-21 alone.

India also has a high number of ultra-high-net-worth individuals (UHNWI) — that is, individuals whose net worth is over USD 30 million. An individual whose net worth is over USD 1 million is categorized as a high-net worth individual.

The 2022 report also shows that, in India, the number of UHNWIs grew by 11% YoY (year-on-year) in 2021 and that this population is predicted to shoot up by 39% in the next five years.

Further, a significant number of UNHWIs in India — about 69% of them — expect their wealth to grow by over 10% in 2022. Among Indian cities, Hyderabad has the 2nd largest number of UHNWIs after Mumbai with 467, followed by other cities like Bengaluru (352), Delhi (315), and Chennai (264).

In Bengaluru, the UNHWI population is expected to grow by a whopping 88.9% to 665 by 2026, while Hyderabad is expected to have 728 ultra-wealthy individuals by 2026.

The UHNWI population in India is expected to grow by 39% between 2021- 2026, with 19,006 people expected to have net assets of USD 30 million or more by 2026.

Delhi has seen a 101.2% increase in UHNWIs in the last five years, followed by Mumbai (+42.6%) and Bengaluru (+22.7%). Within the next five years, Bengaluru is expected to increase 89% in UHNWIs and become home to 665 ultra-wealthy individuals by 2026.

2021 also saw the most startup unicorns — with 43 unicorns minted last year alone. 17 of those unicorns were in Bengaluru.

Overall, India's Silicon Valley has over 35 startups that are unicorns. On the other hand, Hyderabad has seen a steady increase in the number of billionaires, with pharma barons and those in real estate.