India is witnessing a surge in first-generation High Net-Worth Individuals (HNIs). Fuelled by entrepreneurial success, tech-enabled exits, and rising executive compensation, this cohort is now the fastest-growing segment of the country’s wealthy. Over 15% of India's HNIs are under the age of 30, and this number is projected to rise to 25% by 2030. Additionally, nearly 20% of Indian millionaires are below the age of 40.
Many of these fortunes are being minted by startup founders and early employees. Bain & Company’s IVCA Report 2023 notes that almost 80% of India’s unicorn founders are first-time entrepreneurs. In addition, employees are also reaping substantial rewards through equity stakes in successful startups. One example is Flipkart's acquisition by Walmart in 2018. During the acquisition, the $500Mn buyback component resulted in approximately 100 current and former employees becoming dollar millionaires overnight.
Beyond startups, corporate compensation among young profes…
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