India Has More Billionaires Than Switzerland, Hong Kong And France

"The combined wealth of the world's billionaires increased by 12 per cent to US $7.3 trillion, which is higher than the combined market capitalisation of all the companies that make up the Dow Jones Industrial Average," the report said.

Europe, with 775 billionaires, is the region with the most billionaires and billionaire wealth (US $2.37 trillion), while, Asia boasted the largest billionaire wealth increase, with the region's billionaires' fortunes growing by 18.7 per cent over the past year.

"The region (Asia) is responsible for 30 per cent of the net increase in global billionaire wealth in 2014. Asia's billionaire population grew by 10 per cent in 2014, with 52 new entrants into the billionaire club out of which 33 are from China," the report said.