Saturday, 25 June, 2022
TopicWealth

Topic: wealth

Where are India’s missing millionaires? Big numbers of rich don’t tally with income, spending data

There were 7.64 lakh dollar millionaires in India in 2019 according to Credit Suisse, but in the same year, just 3.16 lakh people in the country declared income of over $70,000.

India’s rich got richer in Covid but share of philanthropy fell, says report on charity trends

'Indian Philanthropy Report' by global consultancy firm Bain and Co. and strategic philanthropy foundation Dasra derived from statistics available with London-based donor database.

SubscriberWrites: In praise of making money & why it’s a good idea to let a thousand billionaires bloom

Shaunak Desai defends the super rich from the charge that their creation of wealth also creates greater inequality in society.

Warren Buffett loses spot on world’s rich list to China’s bottled water king Zhong Shanshan

It’s only the second time a Chinese national has broken into the world’s Top 10, and no one from the mainland has ever ranked this high on Bloomberg’s wealth index.

World’s richest people smashed wealth records this week

While Amazon's Jeff Bezos' net worth topped a whopping $200 billion, Elon Musk's fortune soared past $100 billion fueled by Tesla Inc.’s ceaseless rally.

Pandemic could erase more global wealth than financial crisis

Volatile markets and the economic fallout from the virus could wipe out as much as $16 trillion of global wealth this year and hinder growth for the next five years.

Here’s what you need to count among India’s 1%, but it won’t make you rich in US, China

The top 1% covers a wide span, from professionals to billionaires with more wealth than many nations. But the yardstick varies greatly with where you live.

Indian elites holding back wealth tied in slums. And here’s what Modi govt can do

Elites view encroachers as disruptors of property rights system, and oppose regularisation. But that’s what India needs to free up capital held in slums.

Missing capital: India’s trillions-dollar wealth is chained in slums. Time to unlock it

The slums and shanties represent a huge drain on our wealth for what really requires nothing more than a clear-headed policy towards urban property.

These new Indian billionaires are racing ahead as the old ones are fading away

Number of billionaires in India more than doubled to 119 between 2013 & 2018 & the country will lead global growth in ultrahigh net worth individuals.

On Camera

YourTurn

Bucket hat meet feather boa Photographer: Kevin Winter/Getty Images North America

1990s house music and fashion are back — unfortunately, so is a 1970s economy

It may be fear of recession that’s driving today’s obsession with all things early ‘90s. The period was characterised by a dismal economy and large-scale unemployment.
Bombay Stock Exchange in Mumbai | Bloomberg File Photo

Three charts show trouble for Indian stocks and why its unlikely to end anytime soon

The S&P BSE Sensex Index has fallen more than 15% from its October high, nearing the 20% loss that denotes a bear market.

Defence

The Indian Air Force logo | Commons

Almost 4,000 enrol for IAF’s Agnipath recruitment scheme on day 1 of online registrations

These registrations pertain to the Indian Air Force's Agniveer Vayu programme. The online portal for the first phase was opened at 10 am Friday, and will close on 5 July.

With Agnipath, Modi govt’s shock & awe doctrine may have misfired a vital reform, yet again

Modi govt's biggest flaw has been its disinclination to accept limitations of electoral majorities. This ruined land acquisition and farm reform, stalled labour codes.
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