Mumbai has surpassed Beijing to become Asia’s leading destination for billionaires.

In the latest Hurun Global Rich List 2024, Mumbai has emerged as Asia’s new billionaire capital, surpassing Beijing, with a staggering count of 92 billionaires.

mumbai city gateway of India

The report highlights the remarkable wealth accumulation witnessed by these top Indian billionaires, with Adani experiencing a substantial increase of $33 billion in his wealth due to a surge in his companies’ share prices.

Over the course of just one year, Mumbai witnessed the addition of 26 new billionaires, the highest growth rate globally.

The cumulative wealth of Indian billionaires now stands at an astonishing $1 trillion, representing a significant share of global billionaire wealth. Leading this elite group are notable figures like Mukesh Ambani, Chairman of Reliance Industries, whose net worth amounts to an astounding $115 billion. Following closely behind is Gautam Adani, the founder of the Adani Group conglomerate, with assets valued at $86 billion.

Furthermore, this report heralds another landmark achievement for India as New Delhi secures its position among the top 10 cities with the highest number of billionaires for the first time. This development underscores the nation’s robust economic growth and its increasing prominence on the global wealth map.India’s billionaire count saw a substantial uptick, with the addition of 94 new billionaires.

This growth was predominantly fueled by thriving industries such as pharmaceuticals, automobiles, and chemicals, which have been pivotal in driving the country’s economic expansion.

This shift marks a significant milestone for Mumbai, the financial hub of India, which has seen a remarkable surge in its billionaire population.

This underscores the immense economic influence wielded by these key figures within the Indian landscape and beyond.

Leave a Comment