33 billionaires and counting, Bengaluru witnesses fastest growth of super rich

Agencies
March 8, 2019

Bengaluru, Mar 8: As India's tech hub, Bengaluru has more billionaires and ultra-high net worth individuals (UHNWIs) than 5 years ago, said global property consultancy Knight Frank in its Wealth Report 2019 on Thursday.

"Bengaluru has 33 billionaires in 2018 as against 30 in 2017 and 26 in 2013, registering 10 per cent annual growth and 27 per cent over the last 5 years," said the London-based consultancy in the 13th edition of its annual wealth report.

Similarly, the number of UHNWIs grew 8 per cent to 98 in 2018 from 91 in 2017 and 72 in 2013, registering 36 per cent cumulative growth point average (CGPA).

The list of billionaires include Biocon chairperson Kiran Mazumdar Shaw, Wipro chairperson Azim Premji, Infosys' Narayana Murthy and Shibulal, Sachin Bansal and Binny Bansal, founders of Flipkart, Manipal group CEO Ranjan Pai and former Infosys CEO Nandan Nilekani among others.

Over the next 5 years, Bengaluru will have 40 billionaires and 137 UHNWIs, projecting 22 per cent increase among the former and 40 per cent CGPA among the latter.

"Bengaluru to witness fastest growth of the rich globally by 2023 when it will have 40 billionaires and 137 UHNWIs, projecting 22 per cent CGPA among the former and 40 per cent among the latter since 2018," said the report.

Though as a whole, India will also see 39 per cent growth of UHNWIs by 2023, Mumbai and Delhi are likely to see 38 per cent CGPA growth over the next 5 years.

"Bengaluru is the first amongst the top 5 'cities of the future' along with Hangzhou in China, Stockholm in Sweden, Cambridge in Britain and Boston in the US," said the report.

The report also identifies the world's top cities that support wealth creation, including innovation indicators, wealth forecasts and economic growth that improve a city's growth prospects, such as infrastructure.

"Bengaluru is the first amongst five eye-catching 'cities of the future' based on their economic potential. This growth, backed by its intrinsic potential arising from strong economic fundamentals, will attract investments both from domestic as well as institutional sources," said Knight Frank Chairman Shishir Baijal in a statement.

Termed 'Future Cities' of the world, these cities demonstrate characteristics that will propel wealth creation as well as future property investment.

"Bengaluru is home to global firms such as Infosys, Wipro and Flipkart and over 400 multinationals, including Microsoft, Hitachi and Samsung," said the report.

Bengaluru has made a commitment to create a knowledge economy by investing in education centres, including the Indian Institute of Management (IIM-B), the Indian Institute of Science (IISc) and the National Aerospace Laboratories (NAL). 

"The garden city's broad ecosystem of innovation offers multiple opportunities for growth, reflected in the rise of new age technology firms across sectors, including artificial intelligence, food technology, financial technology and robotics," said the report.

According to Knight Frank Research Head Nicholas Holt, despite a softening momentum in the region's economies, growth prospects in Asia remain favourable in the medium term. 

"While China's economy is expected to slow, emerging markets such as India and the Philippines will deliver some of the strongest growth over the coming years," said Holt.

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News Network
December 19,2025

Mangaluru: Public transport in Mangaluru is set for a state-led transformation as the government moves to deploy 100 new electric govt buses to replace unreliable private services. The initiative aims to provide a dependable alternative to private operators who have been frequently "cutting trips," leaving thousands of commuters stranded.

The announcement was made by Deputy Commissioner and MCC Administrator Darshan HV during a public phone-in session. The move specifically targets routes where private bus service has become erratic, ensuring that citizens no longer have to rely on a fluctuating private sector for their daily commute.

Restoring the Govt Presence

The transport crisis was brought to the forefront by Ramayya, a resident of Bajal, who highlighted a growing trend of private buses skipping morning and night trips. With the previous KSRTC (govt) services discontinued, residents have been left without a fallback option.

To fix this, the DC confirmed that the PM-eBus Sewa Scheme will bring 100 government-owned electric buses to the city:

•    Phased Deployment: The first 50 of the new 100 government buses are scheduled to arrive by March 2026.

•    State Infrastructure: Two new government depots, including one at Mudipu, are being prepared for operations.

•    Recruitment: The state has already begun training a new batch of government bus drivers to ensure the fleet is operational the moment it arrives.

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News Network
December 15,2025

Udupi, Dec 15: What was meant to be a post-pilgrimage gathering turned tragic in Padukere village of Brahmavar taluk, Udupi district, late Sunday night, when a clash among youths escalated into a fatal assault, leaving one man dead.

The victim has been identified as 30-year-old Santosh Mogaveera, a resident of Padukere.

According to preliminary information, the incident took place during a late-night drinking party involving a group of local youths who had recently returned after completing their pilgrimage to the Sabarimala shrine. An argument reportedly broke out among the group and soon escalated into a violent confrontation.

During the ensuing brawl, Santosh Mogaveera was allegedly assaulted and collapsed at the spot after sustaining serious injuries. He was rushed by local residents to a private hospital in Brahmavar, where doctors declared him dead.

On receiving information, senior police officials, including Brahmavar Circle Inspector Gopikrishna, Kota Police Sub-Inspector Praveen Kumar T, Station ASI Manthesh Jabagoudar, and head constables Pradeep and Ashok, visited the spot and conducted an inspection.

Police have taken four youths into custody in connection with the incident. A case has been registered at the Kota police station, and further investigation is underway to ascertain the exact sequence of events leading to the death.

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News Network
December 16,2025

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Melkar (Bantwal): The 9th Annual Day celebration of SMR Public School, titled “EXCELLENTIA”, was held on December 15 with great enthusiasm and dignity, marking a significant milestone in the institution’s journey towards academic excellence and holistic development.

The programme was inaugurated by Dr. U. T. Iftikar Ali. The chief guests were Dr. Akhtar Hussain, Mr. P. Moosabba Beary, Mr. Zakaria Jokattre, and Dr. T. M. Abdul Rahuf—whose inspiring addresses motivated the students and appreciated the school’s contributions to education.

Mr. Abdul Nasir, Mr. Ibrahim Gadiyar, Mr. Razak Golthamajal, Mr. Sali Koya, Mr. Arshad Hussain, Mr. Ismail Balanoor, Mr. Feroz Bawa, Mr. Sahul Hameed, Mr. Abubakkar, Mr. Hameed K. Mani, Mr. Abdul Majeed (Principal, Melkar Women’s College), and Mr. Abdul Lathief (Former Principal, Melkar Women’s College) were the guests of honour.

The Annual Report was presented by the Headmistress, Ms. Fathimathul Zaheera, highlighting the school’s achievements and progress during the academic year. The Presidential Address was delivered by the Chairman of SMR Public School, Dr. Haji S. M. Rasheed, who emphasised the vital role of education in shaping students’ futures and stressed the importance of discipline, dedication, and consistent effort in achieving 100 per cent academic results.

Secretary of SMR Public School, Mr. Rifath Ahmed, and PTA President, Mr. Sandeep Kumar, were also present on the occasion.

The Annual Day celebration showcased the collective efforts of students and teachers and reaffirmed the school’s commitment to quality education and all-round development. The programme concluded with a vote of thanks, expressing gratitude to all dignitaries, parents, and well-wishers for their support. The 9th Annual Day—EXCELLENTIA—was a memorable and successful event, leaving a lasting impression on everyone present. 

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