India ranks third in terms of self-made billionaires, highlights 2023 Hurun Global Rich List

India ranked third in terms of number of self-made billionaires with 105 billionaires in the list, showed 2023 Hurun Global Rich List on Wednesday.

The cumulative wealth of these 105 billionaires stood at $381 billion, according to the Hurun list.

The report also cited the global ranks of Indians in M3M Hurun Global Rich List is surging at a rapid pace. Over the last five years, India’s contribution to the global billionaire population has been steadily increasing. Currently, India contributes 8 per cent of the total global billionaire population compared to 4.9 per cent five years ago.

The list showed that 70 per cent of the billionaires are self-made, meanwhile, 30 per cent come under the inherited category.

In terms of percentage, India's self-made billionaires stood at 57 per cent.

"Self-made billionaires are on the up, up from 69 per cent of the list 5 years ago. Of those who inherited their money, 10 per cent have grown it aggressively, EG Bernard Arnault, who inherited $15 million, and turned it into $200 billion; or Mukesh Ambani of Reliance, who inherited $10 billion in 2022, growing it to close to close to $100 billion over 20 years," stated the report.