Mumbai has surpassed Beijing and has become the new billionaire capital of Asia. According to the Hurun Global Rich List 2024, Mumbai has witnessed a surge in billionaires and had 92 new billionaires compared to 91 in Beijing.
According to the Hurun Global Rich List 2024, Mumbai has become the billionaire capital of Asia and ranks among the top 3 cities in the world. The city witnessed the addition of around 100 new billionaires in this year's list. Mumbai, in total, had 92 billionaires surpassing the former billionaire capital, Beijing, which had 91.
As per the report, "Mumbai was the fastest growing billionaire capital in the world, adding 26 in the year and taking it to third in the world and Asia’s billionaire capital. New Delhi broke into the Top 10 for the first time. Palm Beach, Istanbul, Mexico City and Melbourne broke into the Hurun Top 30 Cities.”
Mumbai has experienced a rise in its wealth by 47% while Beijing had a decline of 28%. In total, India had 94 new billionaires this year whereas China only had 55, which shows the wealth development of India.
According to the Hurun report, Indian businessman, Mukesh Ambani who chairs Reliance Industries, is the only Indian billionaire to be in the Top 10 Hurun Global Rich List 2024. He is currently the richest man in Asia, with a net worth of around $113.7 billion.
Speaking on the Global Rich List, Hurun Report chairman and chief researcher Rupert Hoogewerf said, “The number of known billionaires in the world is up 5 per cent to just under 3300, mainly on the back of a strong performance in stock markets. The Hurun Global Rich List tells the story of the global economy through the stories of the world’s richest individuals. Who’s up and who’s down highlights the economic trends of sectors and countries.”
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