Mumbai, India’s bustling financial hub, has achieved a remarkable milestone: it now reigns as Asia’s billionaire capital, surpassing Beijing for the first time
According to the Hurun Research Institute’s global rich list, Mumbai boasts 92 billionaires with a combined wealth of $445 billion. This historic feat marks the first time that India’s most populous city has claimed the top spot in Asia.
While New York (with 119 billionaires) and London (with 97 billionaires) lead the global rich list for cities, Mumbai’s ascent is a testament to its thriving energy and pharmaceutical sectors. The city’s entrepreneurial spirit and economic dynamism have propelled it to the forefront of wealth creation in the region.
Beijing, which previously held this distinction, now trails closely behind with 91 billionaires, followed by Shanghai with 87 billionaires. The competition among these financial powerhouses reflects the shifting landscape of global wealth distribution.
Globally, there are currently 3,279 billionaires, representing a 5% increase from 2023. China remains at the helm with 814 billionaires, despite a loss of 155 billionaires over the past year. The United States follows closely with 800 billionaires, while India claims the third spot with 271 billionaires.
Mumbai’s skyline, ever-changing, now reflects its title as Asia’s billionaire capital, highlighting the city’s resilience, innovation, and steadfast quest for prosperity.
