Super Rich Gen Z! Over 15 Per Cent of India’s HNI Population Is Younger Than 30: Report

As much as 15 per cent of India’s High Networth Individual (HNI) population is younger than 30 years of age. It is also projected that the number is expected to increase to 25 per cent by 2030 according to a report by the Financial Express which cited a study by Anarock Property Consultants. Anarock Property Consultants also found in their study that nearly 20 per cent of Indian millionaires are below the age of 40. The report also found that India’s UHNI population grew by 6 per cent in 2024 compared to China’s where the UHNI population grew just 2 per cent.

The report also cited Prashant Thakur the regional director and head of research of Anarock Property Consultants who said that young entrepreneurs, tech pioneers and seasoned industrialists are leading the expansion of India’s affluent population.

“A dynamic mix of young entrepreneurs, tech pioneers, and seasoned industrialists driving the expansion of the affluent population,” Thakur said.

Thakur also said that as much as 30 per cent of the new HNIs have created their wealth through technology, fintech, and startups. Thakur also said that the ‘Make-in-India’ push has boosted industrial wealth, contributing 21 per cent to the ultra-high net worth individuals (UHNI) economy.

The report also said that around 14 per cent of UHNIs own real estate overseas across locations such as Dubai, London, and Singapore. Additionally, the average international property investment exceeded Rs 12 crore ($1.44 million) in 2024.

The report also found that over 37 per cent of Indian HNIs purchased a high-end vehicle in 2024, leading to record sales for luxury automotive brands such as Lamborghini, Porsche, and Rolls Royce. UHNIs also spent an average of Rs 6 crore ($7,20,000) annually on leisure activities such as bespoke vacations, luxury cruises, and curated experiences as per the report.

HNI’s allocated as much as 32 per cent of their wealth to real estate, 20 per cent towards private equity and startups with a focus on AI, blockchain, and cleantech. Nearly 8 per cent of UHNIs invested in cryptocurrencies as per the report.

As many as 25 per cent of Indian UHNIs are investing internationally by including assets in North America and Europe in their portfolio. On the other hand, more than 40 per cent of UHNIs have established family offices to manage wealth, succession planning, and philanthropy.