How rich is the world's wealthiest beggar?

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It may seem unbelievable, but Bharat Jain, a beggar on the streets of Mumbai, India, is recognized as the wealthiest beggar in the world.

With a net worth of 7.5 crores INR (almost one million USD), Bharat Jain has gained worldwide fame, with most media outlets dubbing him the 'World's Richest Beggar'. His story has been featured on television, social media, and newspapers worldwide.

So, exactly how wealthy is he?

Bharat Jain, the wealthiest beggar in the world

Born into impoverished circumstances, Bharat Jain never received a formal education. His life and that of his family were initially extremely challenging, with no stable income whatsoever.

Bharat Jain resides in Mumbai, the financial capital of India and the birthplace of Bollywood, where the cost of living is exceptionally high. He begins begging on the streets from 10 to 12 hours every day to meet his financial needs.

Gradually, his monthly income from begging ranges from 60,000 INR to 75,000 INR (equivalent to 17 to 21 million VND). His familiar begging spots are around the Chhatrapati Shivaji Terminus railway station and the Azad Maidan sports ground.

Both these locations are among the most prime spots in Mumbai. The Chhatrapati Shivaji Terminus, formerly known as Victoria Terminus, is a UNESCO World Heritage Site in Mumbai, bustling with people day and night.

At present, he is considered the wealthiest beggar in India and reputedly in the world. His net worth is 7.5 crores INR, which is nearly one million USD. Even the middle class in India, working diligently from 8 to 10 hours a day, cannot possess such wealth.

The 'wealth-building' journey of Bharat Jain

According to the latest data on the Global Multidimensional Poverty Index (MPI) released by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI), India has witnessed 415 million people escaping poverty in the past 15 years.

Bharat Jain comes from humble beginnings. Begging was the only livelihood he knew, and he ingeniously turned it into a profitable venture.

His family includes his wife, two sons, an elder brother, and his father. Through begging, Bharat Jain managed to accumulate some money and invested his earnings into real estate to generate income from it.

At present, he owns a two-bedroom apartment in Mumbai worth 1.2 crore INR (approximately 3.4 billion VND) and two rental shops in Thane yielding a monthly rental income of 30,000 INR (about 8.5 million VND).

Although unable to complete his education, his two sons have been privileged enough to receive education. Other family members are currently running a stationery store and have successfully lifted themselves out of poverty. Bharat and his family reside in a one-bedroom apartment with a hall and kitchen in Parel, Mumbai.

Despite numerous pleas from his family to quit his 'profession' of begging, Bharat still spends 10 to 12 hours each day on the streets of India's financial hub begging for alms.

In India, there is no law punishing the act of begging. However, some states and union territories have anti-begging laws formed based on the 'Bombay Prevention of Begging Act, 1959.' According to this act, a 'beggar' is someone who has no visible means of livelihood, and 'begging' includes soliciting or receiving alms in a public place, whether by singing, dancing, fortune-telling, or exhibiting any deformity, infirmity, etc. However, this act also empowers the police to arrest or detain any beggar without a warrant.

By that definition, Bharat Jain's continued begging on the streets, despite being a millionaire, is somewhat peculiar. While most people in India working 10 to 12 hours a day may not earn 10 dollars, he still earns 2,000 to 2,500 INR (25 to 35 dollars) each day, solely through the kindness of others.

Frequently Asked Questions

What factors contribute to Bharat Jain being recognized as the wealthiest beggar in the world?

Bharat Jain's wealth stems from his unique ability to earn substantial daily income through begging, which ranges from 2,000 to 2,500 INR. Additionally, his strategic choice of high-traffic locations, such as near the Chhatrapati Shivaji Terminus, has significantly boosted his earnings. His entrepreneurial spirit also led him to invest in real estate, further enhancing his net worth to 7.5 crores INR.

How did Bharat Jain manage to accumulate wealth despite his humble beginnings?

Bharat Jain's wealth accumulation is attributed to his long hours of begging, typically 10 to 12 hours daily. He cleverly transformed begging into a lucrative profession, earning a monthly income of 60,000 to 75,000 INR. Additionally, he invested his savings into real estate, owning a valuable apartment and rental properties that generate additional income.

What challenges did Bharat Jain face during his early life before becoming wealthy?

Bharat Jain faced numerous challenges growing up in poverty without a formal education. His family struggled for financial stability, and he had limited opportunities for employment. These hardships motivated him to begin begging as a means of survival, which ultimately led to his unexpected success as the wealthiest beggar in the world.

Why does Bharat Jain continue to beg despite his significant wealth?

Despite his wealth, Bharat Jain continues to beg due to a combination of habit and family pressures. His family members have urged him to quit, but he remains committed to his daily routine of begging for alms, likely as a way to maintain a connection to his past and provide additional financial support.

What laws regarding begging exist in India that may affect Bharat Jain's situation?

In India, there are no overarching laws against begging, although some states have enacted anti-begging laws, such as the Bombay Prevention of Begging Act, 1959. This act defines begging and allows police to detain beggars. Despite his wealth, Bharat Jain's continued begging raises questions about the application of these laws and their implications for individuals in similar situations.

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