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Hurun Report: Mumbai Now Boasts Asia’s Largest Billionaire Population

Mumbai now has more billionaires than Beijing as it became Asia’s billionaire capital for the first time. Mumbai hosts 92 billionaires against 91 in Beijing, Hurun Research’s 2024 Global Rich List showed while China has 814 billionaires overall compared to India’s 271. Globally, Mumbai now ranks third in terms of billionaires after New York, which has the most billionaires- 119- after seven years, followed by London with 97, as per the list.

How many new billionaires are in Mumbai?

Mumbai added 26 billionaires this year compared to Beijing lost 18 billionaires on a net basis, the list showed.

What is Mumbai’s total billionaire wealth?

Mumbai’s total billionaire wealth stands at $445 billion- a 47% increase from the previous year. On the other hand, Beijing’s total billionaire wealth amounts to $265 billion- a 28% overall decrease.

Which are Mumbai’s wealth sectors?

The wealth sectors in the city include energy and pharmaceuticals as billionaires like Mukesh Ambani saw significant gains.

Who is Mumbai’s biggest wealth gainer?

Real estate player Mangal Prabhat Lodha is Mumbai’s biggest wealth gainer in percentage terms (116%).

Indian billionaires saw a slight drop in world ranking while Mukesh Ambani maintained his stronghold at 10th position attributed to Reliance Industries. Gautam Adani stood at 15th rank- a rise of eight position while HCL’s Shiv Nadar and his family ranked up 16 places to 34. Serum Institute’s Cyrus S Poonawalla experienced a modest decrease and is down 9 places to 55 with total wealth of $82 billion.

More in the list include: Sun Pharmaceuticals Dilip Shanghvi (61st position) and Kumar Mangalam Birla (100th position). Radhakishan Damani moved up eight places to 100th position as well.

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(Source: HT)

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