Mumbai Emerges as Asian Hub for Billionaires with 47% Wealth Surge in One Year, Surpasses Beijing
Mumbai, the economic capital of India, has become the billionaire capital of Asia, surpassing Beijing for the first time. With 92 billionaires spread across 603 square kilometers, Mumbai has claimed this position, while Beijing, spread over 16,000 square kilometers, houses 91 billionaires.
According to the 2024 Global Rich List by Hurun Research, in the last year alone, Mumbai has seen 26 new billionaires emerge, while 18 individuals from Beijing have dropped off this list. China boasts 814 billionaires, while India is home to 271 billionaires.
Mumbai Rises to Third Place Globally
Following New York and London, Mumbai has now climbed to third place globally on this list. New York leads with 119 billionaires, while London stands second with 97 billionaires. A billionaire is defined as someone with assets totaling at least 1 billion dollars, roughly equivalent to over 8.333 crore rupees.
92 Individuals Hold $445 Billion in Mumbai
According to reports, the total wealth of 92 individuals in Mumbai has increased by 47% to reach $445 billion in just one year. In contrast, the wealth of billionaires in Beijing has decreased by 28%, now standing at $265 billion.
Only 2 Indians Among World’s Top 20 Richest
India currently has 271 billionaires. However, among the top 20 richest individuals globally, only two are Indian. Mukesh Ambani, Chairman of Reliance Industries, ranks 11th with a wealth of ₹9.43 lakh crore, while Gautam Adani, Chairman of the Adani Group, ranks 18th with a wealth of ₹6.73 lakh crore.
