Hurun Global Rich List 2024: Mumbai Overtakes Beijing In Billionaires, Dominates Asian Wealth

In Mumbai, the number of billionaires now exceeds that of Beijing, marking it as Asia's billionaire capital for the first time, as revealed by Hurun Research's 2024 Global Rich List.

Mumbai currently hosts 92 billionaires, surpassing Beijing's count of 91.

Mumbai Overtakes Beijing In Billionaires

China boasts a total of 814 billionaires, while India has 271. Globally, Mumbai occupies the third position in terms of billionaire count, trailing behind New York with 119 billionaires and London with 97, according to the list. This year, Mumbai witnessed the addition of 26 new billionaires, whereas Beijing experienced a net loss of 18 billionaires, as indicated by the list, reported Hindustan Times.

Mumbai's total billionaire wealth has soared to $445 billion, marking a substantial 47% increase from the previous year. Conversely, Beijing's total billionaire wealth has decreased to $265 billion, reflecting a significant 28% decline overall. The key wealth sectors in Mumbai include energy and pharmaceuticals, with billionaires like Mukesh Ambani witnessing notable gains.

Real estate magnate Mangal Prabhat Lodha emerges as Mumbai's most significant wealth gainer, experiencing a remarkable 116% increase in wealth. In the global rich list, Indian billionaires have slightly dropped in world ranking, with Mukesh Ambani maintaining his stronghold at the 10th position attributed to Reliance Industries, reported Hindustan Times.

Gautam Adani has ascended to the 15th rank, marking an eight-position rise, while HCL's Shiv Nadar and his family have climbed 16 places to the 34th position. Conversely, Serum Institute's Cyrus S Poonawalla has experienced a modest decrease, dropping nine places to the 55th position, with a total wealth of $82 billion.

Other notable mentions in the list include Sun Pharmaceuticals' Dilip Shanghvi at the 61st position and Kumar Mangalam Birla at the 100th position. Radhakishan Damani has ascended eight places to the 100th position as well.