India Added 1 New Millionaire Every 30 Minutes, But Philanthropy Is Still Billionaire-Driven

The total number of millionaire families in the country has almost doubled between 2021 and 2025. There are currently 8.71 lakh families with a minimum asset value of Rs 8.5 crore, the Mercedes-Benz Hurun India Wealth Report 2025 states, up from 4.58 lakh families in 2021. On average, this translates into adding one new millionaire family every 30 minutes in the last four years.

Urban Millionaire Growth Surges

This segment accounts for only 0.31 per cent of all households, indicating both the speed of wealth generation and the oligopolistic concentration of wealth. Maharashtra tops the millionaire map with 1,78,600 households now in excess of the Rs 8.5 crore threshold, up almost 194 per cent from 2021. Mumbai alone has 1,42,000 such households, a reflection of its status as the nation's financial capital.

Delhi ranks as the second-largest metropolitan area with 79,800 rich families, followed by Bengaluru with 31,600 households, driven by its information technology and startup hub. Ahmedabad, Kolkata, Chennai, Pune, and Hyderabad have also shown substantial increases in wealthy households.

The growth has been supplemented by the good performance of the stock market, the rise in the price of gold, and increased luxury spending. Between 2021 and 2025, the Nifty increased by almost 70 per cent while the price of gold more than doubled to Rs 1.14 lakh per 10 grams.

Billionaires Stay at the Forefront of Donations

Though the base of the millionaires has widened, large-scale donations are still limited to billionaires, as indicated by the Hurun India Philanthropy Report 2025. Education was the largest beneficiary in 2024, capturing 42 per cent of all philanthropic donations. Donations to education increased by 138 per cent to Rs 3,680 crore from 123 donors compared with the last year. Shiv Nadar and family contributed the maximum, donating Rs 1,936 crore.

Healthcare was the second-largest cause, receiving Rs 626 crore from 95 donors, or 7 per cent of total donations. The top donors in this category were Mukesh Ambani and family with Rs 85 crore. But, donations towards healthcare fell by 1 per cent compared to the previous year.

Rural development experienced one of the fastest growths, with contributions amounting to Rs 331 crore from 43 givers, an increase of 212 per cent. Kochouseph Chittilappilly and family topped contributions with Rs 50 crore. Causes related to community development attracted Rs 184 crore, an increase of 21 per cent, with Gautam Adani and family giving Rs 66 crore.

New categories were created in 2024. Research and development benefited by Rs 201 crore from four donors, with Nandan Nilekani committing Rs 110 crore. Poverty eradication benefited from Rs 143 crore from 35 donors, topped by PV Krishna Reddy, who contributed Rs 27 crore. Water conservation benefited by Rs 109 crore from 21 donors, with Gopichand Hinduja and family giving Rs 49 crore.

Not all of the segments grew equally. Donations to environment and sustainability initiatives declined by 30 per cent to Rs 177 crore, with Nithin Kamath and Nikhil Kamath contributing Rs 42 crore. Arts, culture, and heritage saw the biggest drop, with donations declining by 93 per cent to Rs 99 crore. The Bajaj family contributed Rs 29 crore, the highest in this segment.

Ecosystem development accounted for Rs 202 crore, although just two donors contributed to it. It was a 13 per cent fall from the previous year and included a donation of Rs 170 crore from Nandan Nilekani.

A Tale of Wealth Vs. Responsibility

The two reports point to opposing trends. Wealth creation has intensified, with millionaire households growing sharply in cities on the one hand. On the other hand, philanthropic donations remain monopolised by small numbers of billionaires, especially in areas such as education, health, and research.

India currently has 8.71 lakh millionaire households, but philanthropy on a large scale is still being driven by families at the top of the wealth pyramid.