In a 1st, Mumbai tops Asia in billionaires list, is No. 3 globally

Mar25,2024


Mumbai: Mumbai's 603 sq km now has more billionaires than Beijing's 16,000 sq km. Mumbai has become the billionaire capital of Asia for the first time by overtaking the Chinese metropolis.
While China has 814 billionaires compared to India's 271, Mumbai has 92 billionaires, while Beijing has 91 billionaires. Hurun Research2024 Global Rich List was shown. Mumbai now ranks third globally in terms of billionaires after New York, which regained its top spot after seven years with 119 billionaires, followed by London with 97 billionaires.
Maximum City has managed to overtake China's political and cultural capital with the addition of 26 new billionaires in a year. At the same time, Beijing has seen 18 former billionaires removed from the list on net grounds.

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Mumbai's total billionaire wealth is $445 billion, up 47% from last year, while Beijing's total billionaire wealth is $265 billion, a 28% decline.
Mumbai's wealth sectors include billionaires such as energy and pharmaceuticals Mukesh Ambani Experiencing significant benefits. Real estate player Mangal Prabhat Lodha (and family) was Mumbai's biggest wealth gainer in percentage terms (116%).
The global rich list has seen a slight decline in the world ranking of Indian billionaires; Mukesh Ambani has retained his stronghold at 10th position with a substantial increase in wealth, largely thanks to Reliance Industries. Similarly, a significant increase in Gautam Adani's wealth took him up eight places to 15th position globally.
HCL's Shiv Nadar and his family saw a significant rise in both wealth and global ranking (up 16 places to 34). In contrast, Serum Institute's Cyrus S Poonawalla saw a marginal decline (falling 9 places to 55th) with a net worth of $82 billion.
Sun Pharmaceuticals' Dilip Shanghvi (61st) and Kumar Mangalam Birla (100th) also contribute to the dynamics of India's billionaire group. A modest but steady increase in Radhakishan Damani's wealth, driven by the success of DMart, has taken him up eight places to the 100th position.



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