Billionaires' wealth loses weight vs expanding GDP

After strong gains between 2014 and 2021, India's billionaire promoters are now seeing a decline in their combined wealth as a per cent of the country's gross domestic product (GDP).

- KRISHNA KANT

The combined net worth of these billionaire promoters, measured in dollar terms, fell 5 per cent in the calendar year 2025, compared with 7.5 per cent growth in India’s nominal GDP in dollar terms in FY25. As a result, their combined net worth as a per cent of the country’s GDP declined to 25.2 per cent in CY25 from 28.5 per cent a year earlier, marking the lowest level in three years.

The aggregate net worth of the country’s 176 dollar billionaires dropped to $984.2 billion during 2025, down from a record $1,036.2 billion at the end of December 2024. The billionaire club itself contracted, falling to 176 from 204.