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Chinese Millionaires Outnumber Wealthy Americans

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Chinese Millionaires Outnumber Wealthy Americans,Startup Stories,Wealthy Chinese Than Americans,Chinese Millionaires,Wealthy Americans,Rich Chinese outnumber,Credit Suisse Survey,Rich Americans,Global Wealth Report

According to a survey by Credit Suisse, there are more number of wealthy Chinese individuals than American ones for the first time.  The research study also reported almost 100 million wealthy Chinese are ranked in the global top 10 percent, as compared to 99 million rich Americans.

The findings of the Swiss Bank’s annual wealth survey said despite the trade tension between the United States of America and China over the past 1 year, both the Countries managed to fare well in wealth creation.  Both the United States and China contributed $ 3.8 trillion and $ 1.9 trillion respectively. 

The ranks of millionaires in the world also boomed as they rose by 1.1 million to approximately 46.8 million.  All the millionaires of the world collectively own $ 158.3 trillion in net assets, which is 44 percent of the global total. 

The United States alone contributed to half the increase by adding 675,000 new millionaires to the list.  However, Australia saw a decline in its average wealth, largely due to exchange rates. This resulted in 124,000 losing their millionaire title.  Similarly, 27,000 people in Britain and 24,000 in Turkey also lost their millionaire status.

The report also estimated out of all the millionaires in the list, 55,920 are worth at least $ 100 million and 4,830 have net assets worth more than $ 500 million.  The report also predicted global wealth would rise by 27 % to $ 459 trillion in the next five years. Meanwhile, the number of millionaires is expected to grow to 63 million by 2024.

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Entrepreneur Stories

PixelSky Capital Unveils INR 400 Crore Secondaries Fund

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Startup Stories

Bengaluru-based investment bank IndigoEdge, in partnership with entrepreneur Hitesh Ahuja, has launched PixelSky Capital, a secondaries fund targeting INR 400 crore. The fund will invest in eight late-stage tech and consumer companies expected to go public within three to four years, with cheque sizes of INR 40–50 crore each. PixelSky has already invested in beauty retailer Purplle and aims to close a second deal by June 2025.

 

The fund focuses on secondary transactions, allowing existing shareholders to sell stakes to new investors, providing liquidity ahead of IPOs. Founders have committed INR 10–15 crore, with additional capital coming from domestic family offices and startup founders. Final close is expected by March 2026.

 

Led by Hitesh Ahuja, who sold his foodtech startup Yumlane in 2023, and IndigoEdge cofounder Zerin Rahiman, PixelSky marks IndigoEdge’s expansion from advisory and proprietary investments into fund management. The firm has facilitated over 150 transactions worth around $3 billion and invested INR 25–30 crore as a limited partner in multiple VC funds. PixelSky is currently evaluating about 20 companies before finalizing its portfolio

 

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Meta’s Upcoming AR Glasses: A Sneak Peek

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Meta is developing its first true AR glasses, set to launch in 2027. Before the public release, employees will test the device starting in 2024. The company is also releasing new generations of Ray-Ban smart glasses in 2023 and 2025 with enhanced features like a “viewfinder” display.

Specifications and Features

The AR glasses are expected to feature OLED displays and Qualcomm Snapdragon chipsets, offering sophisticated AR and AI capabilities. They will enable users to interact with virtual objects and project high-quality holograms of avatars onto the real world.

Design and Competition

Meta aims for a sleek design, potentially building on its Ray-Ban partnerships. The AR glasses market is competitive, with Apple and Google also investing heavily. Meta seeks to make its AR glasses a game-changer by offering a unique user experience.

Future Plans

In addition to AR glasses, Meta is expanding its VR offerings with new headsets like the Quest 3 and exploring other wearable technologies. The company is focused on reducing costs to make the AR glasses more consumer-friendly by launch.

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From Digital Wallet to Stock Market: MobiKwik Expands Its Horizons with New Brokerage Venture

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From Digital Wallet to Stock Market: MobiKwik Expands Its Horizons with New Brokerage Venture

MobiKwik is venturing into the stock broking sector with the launch of its subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), following approval from the Ministry of Corporate Affairs on March 3, 2025. This move aims to diversify MobiKwik’s offerings beyond its core digital payments services and compete with established players like Zerodha and Groww.

MSBPL will provide a range of brokerage services, including trading in shares, securities, commodities, and derivatives. The subsidiary has an initial capital of Rs 1 lakh, with plans for an additional Rs 2 crore investment to support its operations.

As MobiKwik enters this competitive market, it brings a substantial user base of 172 million and a merchant network of 5 million. Despite recent financial challenges, including a reported loss of Rs 55.2 crore in Q3 FY25, the company aims to leverage its existing infrastructure and user engagement to capture a share of the growing investment technology market, projected to reach $74 billion by 2030.

This strategic expansion aligns with MobiKwik’s broader goals of enhancing its financial service

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