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Richest 1 Percent own 58% of Wealth in India
By: Tupaki Desk | 16 Jan 2017 4:04 PM GMT
India's richest 1 percent own 58 percent of the total wealth in the country. This is much higher than the global margin of 50 percent. Can't this be seen as income inequality?
A study conducted by Oxfam revealed that the net worth of 57 billionaires (USD 216 billion) in India is equal to 70 percent of the population. The collective wealth of 84 billionaires in India is about USD 248 billion. Mukesh Ambani (USD 19.3 billion), Dilip Shanghvi (16.7 billion) and Azim Premji (USD 15 billion) occupy the top 3 spots. India's total wealth stood at USD 3.1 trillion.
Globally, The collective wealth of top 8 billionaires equals 50 percent of the world population. Bill Gates (USD 75 billion), Amancio Ortega (USD 67 billion) and Warren Buffett (USD 60.8 billion) occupy Top 3 spots. While Global Wealth per year stood at USD 255.7 trillion, Billionaires alone hold 6.5 trillion.
A study conducted by Oxfam revealed that the net worth of 57 billionaires (USD 216 billion) in India is equal to 70 percent of the population. The collective wealth of 84 billionaires in India is about USD 248 billion. Mukesh Ambani (USD 19.3 billion), Dilip Shanghvi (16.7 billion) and Azim Premji (USD 15 billion) occupy the top 3 spots. India's total wealth stood at USD 3.1 trillion.
Globally, The collective wealth of top 8 billionaires equals 50 percent of the world population. Bill Gates (USD 75 billion), Amancio Ortega (USD 67 billion) and Warren Buffett (USD 60.8 billion) occupy Top 3 spots. While Global Wealth per year stood at USD 255.7 trillion, Billionaires alone hold 6.5 trillion.
