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What is an Octopus class? Finance Management | Manorama Premium What is Octopus class? Finance Management | Manorama Premium Those 2 lakh millionaires behind everything; Life is ‘very rich’; Octopus class has all the ‘practical’ richness
Published: November 25, 2023 08:16 AM IST
Read 4 minutes
The number of people with assets of 250 crores in India will soon skyrocket. This is the situation in India at a time when the number of such millionaires is decreasing internationally. This ‘Ultra Rich’ has a name – Octopus Class. How do they control our economy?
A view of a mural on a Mumbai street. Mumbai is one of the cities with the highest number of octopus class (Photo by Punit PARANJPE/AFP)
We have heard about many parts of the society such as middle class, upper middle income group, low income group, economically backward group. But have you heard of a category called ‘Octopus Class’? Saurabh Mukherjee, founder and CEO of Marcellus Investment Managers, is behind the phrase. Small towns and cities in India have an octopus class. The term refers to families that rise to a high economic position and later become influential in terms of wealth and power. It is estimated that around two lakh families in India belong to this category. They control 80 percent of the wealth. Cities and towns also vary in the growth of this category. How is the ‘Octopus Class’ formed? How does their financial capacity grow? How is the growth of the Octopus class critical to the Indian economy?
4bca1khikp4r2u4q8pcdt4cnev 2a5ugvpicb43jl5o3pk9s36b5m-list mo-business-personal-finance suma-sunny mo-premium-news-premium 55e361ik0domnd8v4brus0sm25m-list-mo-business-common-mo-business-common-mo-business-premium-list management c wealth
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What is an Octopus class? Finance Management | Manorama Premium What is Octopus class? Finance Management | Manorama Premium Those 2 lakh millionaires behind everything; Life is ‘very rich’; Octopus class has all the ‘practical’ richness
Published: November 25, 2023 08:16 AM IST
Read 4 minutes
The number of people with assets of 250 crores in India will soon skyrocket. This is the situation in India at a time when the number of such millionaires is decreasing internationally. This ‘Ultra Rich’ has a name – Octopus Class. How do they control our economy?
A view of a mural on a Mumbai street. Mumbai is one of the cities with the highest number of octopus class (Photo by Punit PARANJPE/AFP)
We have heard about many parts of the society such as middle class, upper middle income group, low income group, economically backward group. But have you heard of a category called ‘Octopus Class’? Saurabh Mukherjee, founder and CEO of Marcellus Investment Managers, is behind the phrase. Small towns and cities in India have an octopus class. The term refers to families that rise to a high economic position and later become influential in terms of wealth and power. It is estimated that around two lakh families in India belong to this category. They control 80 percent of the wealth. Cities and towns also vary in the growth of this category. How is the ‘Octopus Class’ formed? How does their financial capacity grow? How is the growth of the Octopus class critical to the Indian economy?
4bca1khikp4r2u4q8pcdt4cnev 2a5ugvpicb43jl5o3pk9s36b5m-list mo-business-personal-finance suma-sunny mo-premium-news-premium 55e361ik0domnd8v4brus0sm25m-list-mo-business-common-mo-business-common-mo-business-premium-list management c wealth
#Octopus #class #Finance #Management
