Indian Billionaires Kept 99 Percent of Their Wealth so far in 2022

The Indian economy has been suffering from high inflation, rising interest rates, and a shaky recovery, just like the rest of the world. However, it does not appear to have had any impact on the country's billionaires. In fact, they escaped with a net loss of wealth of less than a trillion dollars in 2022, while the rest of the globe lost more than a trillion dollars.

According to Business Insider's calculations and data from 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 asset preservation.

There are 166 billionaires in India, however only 18 of them are in the top 500 billionaires. The United States and China were responsible for 60% of the wealth loss in these months, losing $426 billion and $185 billion, respectively.

Russian oligarchs have lost approximately $50 billion as a result of sanctions imposed as a result of the Russia-Ukraine conflict. India was second only to Switzerland among countries with at least ten billionaires, whose billionaires actually increased their fortune. According to data, Indian billionaires kept $410 billion out of $415 billion at the beginning of 2022, while Swiss billionaires added $12 billion.