Introduction to the Lifestyle of the Rich in India

India is home to a wealth of resources and historic cultural heritage, and the increase in net worth among its populace is a testament to its economic growth. This article delves into the lifestyle of individuals with a net worth ranging from 50 to 100 crore (approximately 50 to 100 million rupees). We'll explore their spending habits, the typical assets they hold, and their approach to wealth compared to those of the so-called 'new money' in India.

Net Worth and Assets

The typical net worth of 50 to 100 crore in India is often accompanied by a mix of significant assets. Here's a closer look:

Real Estate: They own notable pieces of property, with an average house costing between 10 to 20 crore. This is often complemented by a few rental properties generating income of around 1 crore annually. Automobiles: The average number of luxury vehicles includes 3 to 4 cars such as BMW or Mercedes, each costing around 2 to 3 crore. Jewelry: Luxury jewelry adds approximately 2 to 3 crore to their overall net worth. Cash Flow from Investments: They achieve an annual net income of around 3 crore out of their annual earning of 5 crore, with a substantial portion going towards taxes of 2 crore. Other Investments: Notable assets such as factories or showrooms may add up to 20 to 30 crore, which significantly contribute to their wealth, but provide only 2 to 3 crore in annual income.

Daily Expenses

Their expenditure comprises a blend of practical and luxury items. Here's a typical breakdown of their annual expense:

Foreign Vacations: They take around 2 foreign vacations annually with their family, each costing around 20 lakh rupees (10-20 lakh per trip). House Staff: Their household staff, including full-time chefs, maids, and drivers, cost roughly 5 to 10 lakh rupees annually. Children’s Education: Keeping their children's education under control by allocating 5 to 10 lakh rupees annually for school fees. Utility Bills: The expenses on utilities such as electricity, internet, phone, groceries, etc., fall in the range of 5 to 6 lakh rupees annually. Leisure and Socializing: Weekend parties, shopping, and other social activities cost around 10 lakh rupees annually. Car Maintenance: The costs of car maintenance, including fuel, insurance, and occasional repairs, range between 5 to 10 lakh rupees annually.

Social and Religious Outcomes

Old money in India denotes a traditional, often conservative, approach to wealth, where wealth is accumulated through generations and morally earned. Here are insights into their social and religious perspectives:

Respect for Underprivileged: They are known for their respect and kindness towards people working under them, showing a deep sense of social responsibility. Modesty in Expenditure: Unlike 'new money' often associated with flashy markdowns and ostentatious spending, old money represents a more reserved and thoughtful approach to wealth. Economic Responsibility: While they maintain a good quality of life, they are aware of their economic responsibilities to their family and broader community. Derision towards New Money: There is often a marked contrast between 'new money' and 'old money.' 'Old money' is seen as more deserving of respect due to their demonstrated respect and modesty.

Examples of Notable Individuals

Individuals such as Chef Kapil Sharma in entertainment (social media posts) serve as an example of where the desire for luxury overshadows ethical spending. His preference for visibly displaying expensive jewelry and garments on his show reflects a broader issue in the new money segment of society.

Conversely, tech giants like Mark Zuckerberg and Steve Jobs exhibit a stark contrast in their approach to personal branding. These ultra-rich individuals often choose to downplay their wealth, focusing on their contributions and impactful work rather than their luxurious lifestyle.

Conclusion

The lifestyle of individuals with a net worth of 50 to 100 crore in India is a unique blend of conservative, modest, and responsible spending. Their approach to wealth stands in stark contrast to the flashy, often temporary symbol of 'new money.'