UHNW NRIs GEOGRAPHICAL DISTRIBUTION
AFRICA 1%
THE COMBINED AGGREGATE WEALTH OF ALL UHNW NRI INDIVIDUALS LAGS THE TOTAL WEALTH OF UHNW INDIANS RESIDING IN THE MOTHERLAND
ASIA PACIFIC 20%
NORTH AMERICA 37%
EUROPE 22%
MIDDLE EAST 16%
LATIN AMERICA 4%
On the global map, the ultra-wealthy NRI has a palpable presence in North America, Europe and the Asia Pacific. North America comes in first, followed by Europe, the Asia- Pacific region, the Middle East, Latin America and Africa (see graph). They form 35 per cent of all UHNW Indians, with 2,975 residing in North America and Europe. The three wealthiest NRIs are: London resident Lakshmi Mittal, Malaysia-based Ananda Krishna and the UK-based Hinduja Brothers. Though widespread, the UHNW NRI community is highly interconnected.
And yet, the combined aggregate wealth of all UHNW NRI individuals lags the total wealth of UHNW Indians residing in the motherland. At present, India is home to approximately 8,725 UHNW individuals, whose combined assets are worth USD1 trillion — more than twice the value of the total wealth belonging to their counterparts abroad. The figures, in this case, speak for themselves. For instance, there are 230 UHNW individuals in India worth between USD250 million and USD500 million, compared to 135 NRIs of a similar net worth. The rapid pace of wealth growth among UHNW Indians and NRIs has led to a revolution in terms of lifestyles. As the wealthiest NRI, Lakshmi Mittal has properties in Kensington Palace Gardens worth at least USD420 million, a 340-acre estate in Surrey, a USD38 million Gulfstream G550 private jet and a USD150 million yacht named ‘Amevi’. Not to be outdone, Mukesh Ambani, the world’s richest Indian and head of Reliance India, calls the USD1 billion, 27-storey ‘Antilla’ tower in the middle of Mumbai home, and commands a fleet of 168 luxury cars. He has at his disposal a Boeing Business Jet 2 valued at USD73 million and owns a customised USD60 million Airbus jet that was a gift to his wife on her 44th birthday. The Airbus jet apparently has hi-tech music systems, satellite television, Wi-Fi and a master bedroom coupled with a bathroom featuring a range of showers. Surely the luxury sector waits with bated breath for the UHNW NRI counter to that.
Naturally, these are mere glimpses of the lifestyles of a select few. However, considering the pace of growth of the number of highly affluent Indians outside their motherland, it could herald an era where all eyes and target sights are fixed on the UHNW NRI, a Bollywood archetype coming to life.
JETGALA 111
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148