Mumbai Becomes Asia's New Billionaire Capital, Overtakes Beijing With 92 Billionaires

The number of billionaires in India is only growing, so much so that Asia’s billionaire capital is now an Indian city. That’s right, Mumbai has propelled past Beijing to take the throne. As per Hurons Global Rich List, the city is now home to 92 billionaires, just one ahead of Beijing. Globally, Mumbai now ranks third in terms of billionaires after New York and London. For the first time, Delhi has also made it to the top ten cities with most number of billionaires. However, there are three Chinese cities in the top ten including Beijing, Shanghai and Shenzhen. Along with Hong Kong as well, India added more billionaires than China in a year. It saw 94 new entrants as against China’s 55. While China has more billionaires than the United States, more than 2/3 of its billionaires saw their wealth decline in a year. In contrast, only 24 Indian billionaires net worth face an erosion. Asia’s richest man and Reliance Industries chairman Mukesh Ambani is the only Indian in the global top 10 on the list with a net worth of one $15 billion. Adani Group Chairman Gautam Adani stands at 15th place in the world with a net worth of $86 billion, while HCL Tech Shiv Nadar ranks 34 with a fortune of $37 billion with a $25 billion net worth. Serum Institute Cyrus S Poonawala and Family ranks 55th. Now let’s talk about the world’s richest billionaires. Tesla CEO Elon Musk tops the list for the third time in four years with a fortune of two $31 billion. Amazon founder Jeff Bezos ranked second with a fortune of one $85 billion. In 3rd place is LVMH chairman Bernard Arnour, with an estimated net worth of one $75 billion. Meta CEO Mark Zuckerberg added the most wealth in the last year. He now stands at the fourth position. In fact, the cumulative wealth of billionaires on the list has risen by 9% to a whopping $15 trillion in the last year. None. Make informed decisions with comprehensive analysis on the go. Strengthen your portfolio with real time market updates on the go. Create effective strategies with insightful, expert opinions on the go. Grow on the go with CNBC TV 18 now screening live 24/7 on YouTube.

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