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Here’s How Ultra-Rich Indians Spend Their Money

| Published on February 22, 2018

India is now the 6th wealthiest nation in the world. Being a developing country, it is a big achievement as India has beaten many developed countries in creating money. Of course, there are many factors behind this but, we are sharing how the ultra-rich people in India spend their money.

Kotak Wealth Management did some research and made a report which shows the spending habits of super rich people in India. The report has revealed some very interesting points, let’s have a look at some of those:

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Who is called ‘Ultra-Rich’?

Ultra-high-net-worth individuals (UHNIs) are those people who have a net worth of more than Rs 25 crore. The list contains individuals who have inherited money, entrepreneurs and professionals are also included.

Where the Ultra-Rich spend their money?

  • Lifestyle & household expediture:Around 22 percent of the total annual income of these people are spent on maintaining their lifestyle and household expenditures. 16% of the income is spent on leisure activities.
  • Investments:Nearly, 13% of income is invested in growing their wealth. The stock market is the favourite option for investing. Gold investments have decreased by 17% in last one year.
  • Philanthropy:More than 66 percent of UHNIs believe in using a big amount of their money in philanthropy

Other main conclusions from this report are:-

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  • 97% of UHNHs are living in top-20 cities of India.
  • The number of UHNHs in India will get double to 330,400 by 2022.
  • The net-worth of these people will also get double to Rs 352 trillion by 2022

This report was made after interviewing 200 ultra-rich people from 12 different cities of India.

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