Asia’s Billionaire Capital: Mumbai, the country’s most important financial capital, has emerged as the “Billionaire Capital of Asia”. According to Hurun’s 2024 India’s Richest List, Mumbai has more billionaires than Beijing. Mumbai saw an increase of 58 billionaires, bringing the total to 386 on the list.
“Housing 25 per cent of the list, Mumbai is not only Asia’s billionaire capital, beating Beijing, but also the favourite city of India’s rich according to Hurun, followed by New Delhi and Hyderabad,” the Hurun list data states.
The top cities of residence for the Hurun India 2024 rich have been Mumbai, followed by Delhi, which has added 18 new billionaires, taking its entries in the rich list to 217.
Hyderabad has made a huge leap, overtaking Bengaluru for the first time. The IT hub has moved up to third place in terms of the number of wealthy residents, according to media reports.
The addition of 17 new billionaires has taken the total number of rich people in Hyderabad to 104, followed by Bengaluru at the fourth position with 100 rich people. Other cities in the top 10 include Chennai (82), Kolkata (69), Ahmedabad (67), Pune (53), Surat (28) and Gurugram (23).
Asia’s multi-billion dollar epicentre
In its ranking released in March this year, the Hurun Global Rich List 2024 had noted that Mumbai has overtaken Beijing to emerge as the “epicentre of Asia’s billionaires”.
According to Hurun’s latest list, Mumbai has overtaken Beijing as the city with the most billionaires. With 92 billionaires, India’s financial capital has added 26 new ultra-rich individuals, taking its collective wealth to $445 billion. Meanwhile, Beijing’s tally has dropped to 91, with the city losing 18 billionaires.
“Mumbai was the capital city with the fastest growth in billionaires in the world, with 26 new inhabitants in the year, making it the third largest in the world and the first in Asia,” the report said. In addition, New Delhi debuted among the top 10 cities with the most billionaires in the world.
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