Americans buy sports teams, Indians build empires’: 360 ONE CEO on how the ultra rich think differently across countries

Karan Bhagat, Founder, Managing Director, and CEO of 360 ONE, one of India’s leading wealth management firms, recently shared insights on how billionaires across India, China, the U.S., and the Arab world think about wealth, business, and legacy.

Speaking on a podcast with Raj Shamani, Bhagat — who has spent decades advising some of India’s richest families — highlighted how culture, geography, and mindset shape the way the ultra-wealthy operate.

“I think we’re just at the starting point of new-age investments,” Bhagat said. “Slowly, things will evolve — it’ll all come together. You’ll see more and more money going into new-age investment ideas.”

When asked about the differences between Indian, Chinese, and American billionaires, Bhagat said the contrast is subtle but noticeable.
 

“Outside India, billionaires tend to have more interests and investments beyond their core businesses,” he explained. “Americans are broader in their outlook. Every American billionaire owns a sports team, a media house, or something else. They have multiple passions — and they know how to turn those passions into businesses.”

In comparison, Indian billionaires remain more inward-looking. “In India, it’s a bit more business-focused. Here, if someone is a billionaire, they want to become a two-billionaire, then four, then fifteen. It’s very growth and business-focused — which is neither good nor bad, it’s just the way it is,” Bhagat said.

Chinese billionaires, meanwhile, are extremely work-driven. “Every Chinese billionaire wants to go out of China — do something in Hong Kong, do something abroad. That’s one big difference,” he added.

Bhagat also shared interesting observations about Arab billionaires. “People assume they don’t do much, but they do a lot — just in a very different way. They’ve mastered professional management. Most Arab billionaires don’t run their businesses themselves; they have exceptional teams managing operations and investments,” he said. “In some ways, Arab billionaires are enjoying the most freedom. They have the highest amount of free time because they’ve built systems and teams that run things efficiently.”

He went on to explain how aligning business strategies with national priorities can help billionaires grow their wealth.
“Whenever a billionaire aligns with national priorities, they end up making much more money than usual,” Bhagat said.

Using India as an example, he noted that infrastructure, green energy, and the pharmaceutical sector have created immense opportunities. 

“When the country said 10 years ago that we’ll build roads, those who invested in infrastructure or bid for projects made huge profits. When India became a hub for generic drugs, pharma billionaires emerged almost overnight,” he added.

Bhagat concluded that the mindset of billionaires is shaped by a combination of ambition, culture, and opportunity.
“U.S. and European billionaires are able to diversify outside their core businesses — be it passion projects or new ventures. In India, the focus is still largely inward and on business growth. That’s not better or worse; it’s just how it is. And that’s what makes observing global billionaires so fascinating,” he said.