Indian billionaires retained 99 percent of their wealth in 2022, while global billionaires saw their wealth decline by up to 83 percent. Gautam Adani added the most to his wealth in the world, followed by Mukesh Ambani. So far in 2022, billionaires around the world have lost over a trillion dollars in wealth.
The Indian economy has been suffering from the same problems as the rest of the world, including high inflation, rising interest rates, and a shaky recovery. Nonetheless, the country's billionaires appear unaffected. In fact, they avoided a net loss of wealth in 2022, while the rest of the world lost more than a trillion dollars.
According to Business Insider data and the Bloomberg Billionaires Index, Indian billionaires have kept 99 percent of their wealth so far in 2022 — losing only $5 billion. In fact, they are second only to Switzerland in terms of wealth preservation.
India has 166 billionaires while only 18 of them are in the top 500 billionaires list. Mukesh Ambani and Gautam Adani – rank first and second, respectively, and are among the world's wealthiest men.
Gautam Adani added the most wealth to the world's top 500 billionaires, followed by Switzerland's Guillaume Pousaz. Mukesh Ambani was a close third. Changpeng Zhao, a Canadian billionaire, lost $80 billion in 2022, which is more than the total billionaire wealth of most other countries. Zhao is a co-founder of Binance, the largest cryptocurrency exchange in the world.
The collapse of US stocks cost Mark Zuckerberg, Elon Musk, and Jeff Bezos a combined $138 billion.