BBM provides a more precise measure of economic imbalance by tracking billionaire wealth. India stands deep in this danger zone, with billionaire wealth nearly twice what its economic ratio would suggest. China, on the other hand, has followed the opposite trajectory—shifting from a moderate BBM value in 2021 to the \”Safe Zone\” after Beijing’s sweeping crackdowns on wealth concentration. India has 200 dollar billionaires compared to the U.S.’s 800, despite a per capita income of $2,700 versus $86,000. Much of this wealth has been driven by multiple expansion rather than new business creation. Unlike in authoritarian regimes, India’s billionaires won’t face outright confiscation, but as media hype grows, more players will demand a share of the wealth pie, say Amit Bhartia and Alvaro Pascual of Delorean Partners. The views of the authors are personal, and do not represent the stance of this publication. They are Portfolio Managers at Delorean.