70% of billionaires are self-made and only 30% legacy | Today News (2024)

The Hurun Global Rich List 2023 showed that 70% of the billionaires are self-made and only 30% are legacy. Some of the self-made billionaires include Jeff Bezos, Mark Zuckerberg, Gautam Adani and others.

As many as 247 self-made women made it to the list this year, down by 22 from last year. Among them, China dominated the list with 81% of women billionaires coming from the country. Oklahoma-based Diane Hendricks, 76, became the richest self made woman in the world for the first time with a wealth of $17 billion. Meanwhile, Francoise Bettencourt Meyers, L'Oreal, is the richest woman in the world with $80 billion.

Among those who inherited their money, 10% have grown it aggressively. For example, Bernard Arnault, who inherited $15 million, and turned it into $200 billion or Mukesh Ambani, who inherited $10 billion in 2002, growing it close to $100 billion in over 20 years.

India ranks 3rd in the number of billionaires

In terms of a number of billionaires, India ranks third in the 2023 M3M Hurun Global Rich List. In terms of number of billionaires,China is almost 5 times bigger than India.

The report cited the global ranks of Indians in M3M Hurun Global Rich List is swelling at the fastest pace in India’s modern history. For instance, Gautam Adani & family has gained more than 437 ranks over the last 10 years. The table below gives a snapshot of Indians in M3M Hurun Global Rich List 2023.

The Hurun Global Rich List 2023 reported a decline in the number of billionaires to 3,112, down 8% from last year, and their total wealth decreased by 10%. Of those, 1,078 experienced a growth in their wealth, with 176 new entrants. Meanwhile, 2,479 saw their wealth remain the same or decrease, with 445 dropping off the list. The average age of the billionaires was 66 and they hailed from 69 countries and 2,356 companies.