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India's wealthy are on the rise, with a 63% surge in individuals earning ₹10 crore+ annually. Post-COVID, stock market participation boomed, as over 10 crore Demat accounts were registered, led by young investors aged 20-30.

India’s Millionaire Club: With 63% Surge In 5 Years, 31,800 Indians Earn Over ₹10 Crore Annually

India's wealthy are on the rise, with a 63% surge in individuals earning ₹10 crore+ annually. Post-COVID, stock market participation boomed, as over 10 crore Demat accounts were registered, led by young investors aged 20-30.

India is on a remarkable path of growth, and guess what? People are getting wealthier like never before! In fact, the number of individuals earning ₹10 crore or more has surged by an incredible 63% in just the last five years. But that&rsquo;s not the only intriguing trend. Stay with us as we explore the rise of India&rsquo;s wealthy and how they&rsquo;re driving the stock market&rsquo;s momentum!
According to a report by Centrum Institutional Research, there are now 31,800 Indians making over ₹10 crore annually&mdash;a 63% rise compared to five years ago.
And those earning ₹5 crore or more? That number has jumped by 49%, with 58,200 people now in that category!
And it doesn&rsquo;t stop there. The number of people earning over ₹50 lakh per year has increased by 25%, now totalling 10 lakh individuals!
What&rsquo;s even more staggering is that the combined assets of High Net Worth and Ultra High Net Worth individuals are projected to double by 2028&mdash;from $1.2 trillion to an astounding $2.2 trillion!
The total number of billionaires in India has now soared to 334&mdash;a sixfold jump since the list&rsquo;s inception 13 years ago.
For the first time, the Hurun India Rich List includes over 1,500 individuals with a net worth exceeding ₹1,000 crore&mdash;a two-and-a-half-fold increase in just seven years.
However, while the number of wealthy individuals in India continues to grow at a rapid pace, only a small fraction of them utilise professional services to manage their wealth. According to the Centrum Institutional Research report, despite this significant income surge, only 15% of financial wealth in India is professionally managed&mdash;compared to 75% in more advanced economies. This presents a huge gap in the professional wealth management space in India.&nbsp;
India&rsquo;s wealth landscape is evolving rapidly, and as we&rsquo;ve seen, the numbers are nothing short of remarkable. With more wealth being created, the question remains&mdash; how will India&rsquo;s affluent navigate this new era of prosperity? Will the gap in professional wealth management close as these individuals seek better ways to grow and safeguard their fortunes?
If you found this video insightful, don&rsquo;t forget to hit the like button, share your thoughts in the comments, and subscribe to our channel for more updates on India&rsquo;s economic growth. Thanks for watching, and we&rsquo;ll see you in the next one!

NSE CEO Ashishkumar Chauhan predicts a 1,000% increase in India's wealth over 50 years, driven by its young population and technological advancements. He emphasizes addressing socio-economic challenges and advises caution against potential market volatility

India's wealth to increase tenfold over next 50 years: NSE Chief Ashishkumar Chauhan

<h2>NSE CEO Ashishkumar Chauhan predicts a 1,000% increase in India's wealth over 50 years, driven by its young population and technological advancements. He emphasizes addressing socio-economic challenges and advises caution against potential market volatility</h2>

Ashishkumar Chauhan, Managing Director and CEO of the National Stock Exchange (NSE), expressed strong optimism about India's economic future, predicting a 1,000% increase in the country's wealth over the next 50 years. Chauhan made these remarks while addressing the 23rd convocation ceremony of the Entrepreneurship Development Institute of India (EDII) near Ahmedabad on Wednesday.
<h3>Economic boom in India</h3>
Chauhan attributed this anticipated economic boom to the country's youthful population and rapid technological advancements. He highlighted the potential for young Indians to drive significant economic growth, contrasting India's demographic advantages with aging populations in Europe, Japan, and China.
"India is poised for substantial progress thanks to its young population, rapid technological developments, and entrepreneurial spirit," Chauhan stated. He projected that the wealth created in the next five decades would surpass what was generated over the past 10,000 years, positioning India among the world's wealthiest nations.
Despite his optimism, Chauhan acknowledged India's existing socio-economic challenges, including poverty, illiteracy, inadequate housing, poor living conditions, and insufficient access to food, water, sanitation, and healthcare. He urged the graduating students to become agents of change, finding innovative and cost-effective solutions to these issues.
Chauhan emphasized the role of technology in enabling economic growth, noting that advancements allow individuals to start businesses with minimal capital, thereby democratizing wealth creation. He also mentioned that the NSE's EMERGE platform supports small and medium-sized enterprises (SMEs) by facilitating connections with investors without the need for an initial public offering. Currently, around 150 companies are listed on this platform.
Regarding concerns about potential stock market volatility, Chauhan advised caution. He referenced recent warnings from US economist Harry Dent about a possible stock market crash, which could surpass the severity of the 2008 financial crisis. Chauhan recommended that investors remain vigilant and adopt strategies to mitigate potential losses.
Also Watch: <a href="https://www.editorji.com/business-news/markets/nse-red-flags-deepfake-videos-of-md-ceo-ashish-chauhan-recommending-stocks-1712748499390">NSE red-flags deepfake videos of MD &amp; CEO Ashish Chauhan recommending stocks</a>

The observations were made by a nine-judge SC bench, examining whether privately-owned resources can be considered "material resources of the community". 

Amidst redistribution of wealth debate, SC weighs in on private property 

The observations were made by a nine-judge SC bench, examining whether privately-owned resources can be considered "material resources of the community".&nbsp;

The Supreme Court on Wednesday said the Constitution intended to bring about a "sense of social transformation" and it would be "dangerous" to say that the private property of an individual cannot be regarded as material resources of community and taken over by state authorities to subserve "common good".
The observations were made by a nine-judge bench headed by Chief Justice DY Chandrachud, examining whether privately-owned resources can be considered "material resources of the community", when the counsel for parties including the Property Owners Association (POA) of Mumbai made vehement submissions that the private properties cannot be taken over by state authorities under the garb of constitutional schemes of Articles 39 (b) and 31 C of the Constitution.
The bench is considering the vexed legal question arising from the petitions whether private properties can be considered "material resources of the community" under Article 39 (b) of the Constitution, which is part of the Directive Principles of State Policy (DPSP).
"It may be a little extreme to suggest that 'material resources of the community' only means public resources and we do not have their origin in the private property of an individual. I will tell you why it would be dangerous to take that view."
"Take simple things like mines and even private forests. For instance, for us to say that the governmental policy will not apply to the private forests under Article 39 (b)... therefore keep the hands off. It will be extremely dangerous as a proposition," said the bench which also comprised justices Hrishikesh Roy, B V Nagarathna, Sudhanshu Dhulia, J B Pardiwala, Manoj Misra, Rajesh Bindal, Satish Chandra Sharma and Augustine George Masih.
Referring to social and other prevalent situations in the 1950s when the Constitution was made, the bench said, "The Constitution was intended to bring about social transformation and we cannot say that Article 39 (b) has no application once the property is privately held." It said whether the Maharashtra law, empowering authorities to take over dilapidated buildings, was valid or not was a completely different issue and would be decided independently.
The bench asked can it be said Article 39 (b) will have no application once properties are privately held ones because the society demands welfare measures and there was a need for redistribution of wealth as well.
The CJI referred to the abolition of 'Zamindari' and the purely capitalist concept of property also and said it attributed a sense of "exclusiveness" to property.
"The socialist concept of property is the mirror image which attributes to property, a notion of commonality. Nothing is exclusive to the individual. All property is common to the community. That's the extreme socialist view," the CJI said, adding that the DPSPs have their foundation in the Gandhian ethos.
"And what is that ethos? Our ethos regards property as something which we hold in trust. We don't go as far as to adopt the socialistic model that there is no private property..."
"But, you know, our concept of property has undergone a very different, very subtle change from either the extreme capitalist perspective or the extreme socialist perspective," Justice DY Chandrachud said.
He said we regard property as something of holding in trust.
"We hold the property because for the succeeding generations in the family, but broadly, we also hold that property in trust for the wider community. That's the whole concept of sustainable development."
"That property which we have today, as today's generation, we hold in trust for the future of our society. That's what you call an inter-generational equity," the bench said.
It also observed that there was no need to distribute private properties, which have been considered as material resources of the community and gave the instance of nationalisation of private assets.
"You must understand that Article 39 (b) has been crafted in a certain way in the Constitution because the Constitution was intended to bring about a social transformation. We shouldn't therefore go that far to say that the moment private property is private property, the Article 39 (b) will have no application," the CJI said.
The bench also said it will also deal with the issue pertaining to Article 31 C which grants immunity to laws meant to protect DPSP. The observation was opposed by Solicitor General Tushar Mehta saying that it was not referred to.
Tushar Mehta said though the issue of Article 31 C was not referred to the nine-judge bench, but, he will assist it.
The arguments remained inconclusive and would resume on Thursday.
Article 39 (b) makes it obligatory for the State to create policy towards securing "that the ownership and control of the material resources of the community are so distributed as best to subserve the common good".
As many as 16 petitions including the lead petition filed by the Mumbai-based POA was heard by the bench. The lead plea was filed by POA way back in 1992 and it was referred thrice to larger benches of five and seven judges before being referred to a nine-judge bench on February 20, 2002.

At 70 years old, the private Bettencourt Meyers holds the position of vice-chair on the board of L'Oreal, a vast global company valued at $268 billion. She and her family own a substantial stake in the company, amounting to nearly 35%.

L'Oreal heiress Francoise Bettencourt Meyers makes history as first woman to reach $100 billion net worth

At 70 years old, the private Bettencourt Meyers holds the position of vice-chair on the board of L'Oreal, a vast global company valued at $268 billion. She and her family own a substantial stake in the company, amounting to nearly 35%.

L'Oreal SA's heiress &amp; Vice chairperson Francoise Bettencourt Meyers has become the first woman in the world to accumulate a $100 billion fortune.
Meyers' wealth jumped to $100.1 billion on Thursday as per the Bloomberg Billionaires Index. This, after L'Oreal shares rose to a record high on Thursday, with the stock poised for its best year since 1998. The surge in the stock can be attributed to the expanding beauty industry and France's influence in the segment. Meyers is now the world's 12th richest person.
The reserved Bettencourt Meyers, aged 70, serves as the vice-chair of the board at L'Oreal which is valued at $268 billion. She and her family hold the largest stake in the company, owning nearly 35%. Her sons, Jean-Victor Meyers and Nicolas Meyers, also hold positions as directors. Founded in 1909 by Bettencourt Meyers' grandfather, Eugene Schueller, a chemist, the firm has been led by non-family executives for many years.
Maintaining a private lifestyle, Bettencourt Meyers avoids the extravagant social life favored by many of the world's affluent. Her interests include writing and she has authored two book including a comprehensive five-volume exploration of the Bible and a genealogy of the Greek gods. Additionally, she is recognized for her daily hours spent playing the piano.
Bettencourt Meyers also serves as the chairperson of her family's holding firm, Tethys, which holds the significant stake in L'Oreal. Her husband, Jean-Pierre Meyers, holds the position of chief executive of the holding company. Together, in 2016, they established a subsidiary called Tethys Invest SAS, specifically targeting investments in sectors that do not overlap or compete with the primary operations of their company.
Also Watch: <a href="https://www.editorji.com/business-news/rbi-s-latest-d-sibs-list-confirms-sbi-icici-and-hdfc-as-vital-too-big-to-fail-banks-in-2023-1703770533721">RBI's latest D-SIBs list confirms SBI, ICICI, and HDFC as vital too-big-to-fail banks in 2023</a>
&nbsp;

Isak Munda from Odisha made over ₹5 lakh a month from YouTube. Here's a complete guide on how to start making money from YouTube videos.

Want to be a YouTube star? 5 simple steps to earn money from YouTube videos

How to make money with YouTube videos

How to make money with YouTube videos
(Breathe 5 seconds of video) This is YouTuber Isak Munda, from Odisha's Sambalpur district. Once a daily wage labourer, he took a loan of ₹3,000 to buy a smartphone and started his YouTube channel based around food when work dried up due to the Covid-19 lockdown. Today, he has over 7 lakh subscribers on YouTube, and receives up to ₹5 lakh a month from his YouTube videos.
So, how did he do it? How does one make money from YouTube videos?
//1. Identify your audience, set up your channel   When starting a Youtube channel, it is important to decide what kind of videos you&rsquo;ll be making, and what your audience will want to watch. Will you make cooking videos, review films, or do make up tutorials? There are many different kinds of videos people watch, so make sure you research what you want to do, and then set up your channel. Once your channel is up, you should be consistent with your uploads to make sure people see your videos.
//2. Join the YouTube Partner Program to make money from ads
Once you&rsquo;ve got over 1,000 subscribers, and people have watched your videos for over 4,000 hours in total, you can sign up for the YouTube Partner Program, and start making money from ads. When people view ads before your videos, you get paid a small amount. If your viewers have YouTube Premium, you will get paid according to the amount of time they spend watching your videos. You will need to set up a Google AdSense account to start earning money from ads. It is important to note that videos that contain foul language, adult content, violence, and other such subjects will not get monetised with ads.
//3. Fan memberships
Monetising videos with ads is a great way to start earning revenue, but it can be unreliable. A more steady method, once you&rsquo;ve built up a sizeable fan following, is to ask them to directly fund you through monthly memberships. You can use websites like Patreon, or even YouTube&rsquo;s own fan funding method. Subscribers can pay an extra amount to fund you every month, and in return you can provide exclusive content, more fan engagement, or early access to your videos.
//4. Brand partnerships
Another avenue YouTubers use to earn money is direct brand sponsorships. This is where instead of YouTube providing you with ads, and taking a cut of the payment, a brand can directly pay you for an ad spot in your video. If a YouTube channel has a pre-established subscriber base, this can be a lucrative practice for both brands and creators.
//5. Merchandise sales
Large YouTube channels can further diversify their income through merchandise sales. Fans are often eager to buy clothing, mugs, and novelty items like plush toys from their favourite creators. While complicated to set up and manufacture, merchandise sales can offer a lot more revenue to YouTubers than things like monetised ads.  There are a number of ways one can make money from being a YouTube creator. The important thing is to be consistent with your uploads, and keep making videos that your audience will like.

Isak Munda&nbsp;from Odisha made over ₹5 lakh a month from YouTube. Here's a complete guide on how to start making money from YouTube&nbsp;videos.

This is YouTuber Isak Munda, from Odisha's Sambalpur district. Once a daily wage labourer, he took a loan of ₹3,000 to buy a smartphone and started his YouTube channel based around food when work dried up due to the Covid-19 lockdown. Today, he has over 7 lakh subscribers on YouTube, and earns up to ₹5 lakh a month from his YouTube videos.
So, how did he do it? How does one make money from YouTube videos? Start a YouTube&nbsp;Channel
  When starting a YouTube channel, it is important to decide what kind of videos you&rsquo;ll be making, and what your audience will want to watch. Will you make cooking videos, review films, or do make up tutorials?
There are many different kinds of videos people watch, so make sure you research what you want to do, and then set up your channel. Once your channel is up, you should be consistent with your uploads to make sure people see your videos. Sign up for the&nbsp;YouTube Partner Program
Once you&rsquo;ve got over 1,000 subscribers, and people have watched your videos for over 4,000 hours in total, you can sign up for the YouTube Partner Program, and start making money from ads. When people view ads before your videos, you get paid a small amount. If your viewers have YouTube Premium, you will get paid according to the amount of time they spend watching your videos. Start earning money via ads
You will need to set up a Google AdSense account to start earning money from ads. It is important to note that videos that contain foul language, adult content, violence, and other such subjects will not earn revenue with ads. Move to a subscription model
Monetising videos with ads is a great way to start earning revenue, but it can be unreliable. A more steady method, is the subscription model so once you&rsquo;ve built up a sizeable fan following, you can directly ask them to fund you through monthly memberships. You can use websites like Patreon, or even YouTube&rsquo;s own fan funding method. Subscribers can pay an extra amount to fund you every month, and in return you can provide exclusive content, more fan engagement, or early access to your videos. Brand sponsorships
Another avenue YouTubers use to earn money is direct brand sponsorships. This is where instead of YouTube providing you with ads, and taking a cut of the payment, a brand can directly pay you for an ad spot in your video. If a YouTube channel has a pre-established subscriber base, this can be a lucrative practice for both brands and creators.
Merchandise sales
Large YouTube channels can further diversify their income through promoted&nbsp;merchandise sales. Fans are often eager to buy clothing, mugs, and novelty items like plush toys from their favourite creators. While complicated to set up and manufacture, merchandise sales can offer a lot more revenue to YouTubers than things like monetised ads.  
There are a number of ways one can make money from being a YouTube creator. The important thing is to be consistent with your uploads, and keep creating content/videos that your audience responds and engages with.&nbsp;

As per&nbsp;Hurun&nbsp;Global Rich List, India has added 40 new billionaires in 2020 taking the total toll from the sub-continent to 177. This does not include the&nbsp;additional 32 Indian-origin billionaires across the world.&nbsp;&nbsp;
Mukesh Ambani&nbsp;holds pole post as&nbsp;India&rsquo;s richest man&nbsp;with his wealth rising 24% in 2020 totaling to $83 billion and also making him the eighth richest man&nbsp;globally.&nbsp;&nbsp;
The Shanghai based report also stated that China surpassed the US to become home to&nbsp;the most&nbsp;number of billionaires in the world. While India with&nbsp;177 billionaires&nbsp;is the third highest in the world.&nbsp;&nbsp;

India adds 40 new billionaires, Mukesh Ambani's wealth soars to $83 bn

India's billionaires club just got bigger.&nbsp;India has added 40 new billionaires in 2020 taking the total toll from the sub-continent to 177

India adds 40 new billionaires , home to 177 billionaires

As per&nbsp;Hurun&nbsp;Global Rich List, India has added 40 new billionaires in 2020 taking the total toll from the sub-continent to 177. This does not include the&nbsp;additional 32 Indian-origin billionaires across the world.&nbsp;&nbsp;
 Mukesh Ambani&nbsp;holds pole post as&nbsp;India&rsquo;s richest man&nbsp;with his wealth rising 24% in 2020 totaling to $83 billion and also making him the eighth richest man&nbsp;globally.&nbsp;&nbsp;
 The Shanghai based report also stated that China surpassed the US to become home to&nbsp;the most&nbsp;number of billionaires in the world. While India with&nbsp;177 billionaires&nbsp;is the third highest in the world.&nbsp;&nbsp;

After an improbable career spanning journalism, mushroom farming and health care, Chinese businessman&nbsp;Zhong Shanshan&nbsp;has become Asia&rsquo;s richest person, surpassing India&rsquo;s Mukesh Ambani.
Zhong&rsquo;s net worth has surged $70.9 billion this year to $77.8 billion, making him the 11th-richest person on the planet, as per the Bloomberg Billionaires Index. It&rsquo;s one of the fastest accumulations of wealth in history.
He owes his success to vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. and&nbsp;Nongfu Spring Co., a maker of bottled water.&nbsp;After getting listed this year,&nbsp;Nongfu shares have jumped 155% since their debut, and Wantai&rsquo;s are up more than 2000%.

Journalist-turned-businessman dethrones Ambani as Asia’s richest

After an improbable career spanning journalism, mushroom farming and health care, Chinese businessman&nbsp;Zhong Shanshan&nbsp;has become Asia&rsquo;s richest person, surpassing India&rsquo;s Mukesh Ambani.&nbsp;Zhong&rsquo;s net worth has surged $70.9 billion this year to $77.8 billion. He owes his success to vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. and&nbsp;Nongfu Spring Co., a maker of bottled water. It&rsquo;s one of the fastest accumulations of wealth in history.

After an improbable career spanning journalism, mushroom farming and health care, Chinese businessman&nbsp;Zhong Shanshan&nbsp;has become Asia&rsquo;s richest person, surpassing India&rsquo;s Mukesh Ambani.
Zhong&rsquo;s net worth has surged $70.9 billion this year to $77.8 billion, making him the 11th-richest person on the planet, as per the Bloomberg Billionaires Index. It&rsquo;s one of the fastest accumulations of wealth in history.
He owes his success to vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. and&nbsp;Nongfu Spring Co., a maker of bottled water.&nbsp;After getting listed this year,&nbsp;Nongfu shares have jumped 155% since their debut, and Wantai&rsquo;s are up more than 2000%.

Mukesh Ambani has been making ₹90 crore an hour since lockdown

India's wealthiest Mukesh&nbsp;Ambani&nbsp;has been making ₹90 crore&nbsp;per hour since the March lockdown

India's wealthiest man&nbsp;Mukesh Ambani&nbsp;has been adding ₹90 crore per hour to his wealth since the March lockdown, according to the IIFL&nbsp;Wealth Hurun India Rich List 2020 released on Tuesday.
The fortunes of Ambani, who retained the title of the richest Indian for the 9th year on run, rose by ₹2.77 lakh&nbsp;crore to ₹6.58 lakh&nbsp;crore.
The&nbsp;recent $20 billion fund-raising by Reliance Industries has given the tycoon unparalleled financial clout at a time when most other companies&nbsp;suffering by the pandemic.

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