More billionaires live in Mumbai's 603 square kilometers than in all of Beijing, which spans more than 16,000 square kilometers. Mumbai is now the capital of Asia for billionaires, surpassing the Chinese megalopolis in the process. According to Hurun Research's 2024 Global Rich List, there are 814 billionaires in China and 271 in India. Of these, 92 are located in Mumbai and 91 in Beijing.
Following New York City's 119 billionaires—which it reclaimed after seven years—and London's 97 billionaires, Mumbai is the third most populous city in the world in terms of billionaires.
More billionaires live in Mumbai's 603 square kilometers than in all of Beijing, which spans more than 16,000 square kilometers. Mumbai is now the capital of Asia for billionaires, surpassing the Chinese megalopolis in the process.
According to Hurun Research's 2024 Global Rich List, there are 814 billionaires in China and 271 in India. Of these, 92 are located in Mumbai and 91 in Beijing. Following New York City's 119 billionaires—which it reclaimed after seven years—and London's 97 billionaires, Mumbai is the third most populous city in the world in terms of billionaires.
With 26 new millionaires added every year, The Maximum City has surpassed China in political and cultural capital. A net of 18 former billionaires have left the list in Beijing during the same time.
The combined fortune of Mumbai's billionaires is $445 billion, up 47% from last year, while Beijing's total fortune is $265 billion, down 28%.
Billionaires like Mukesh Ambani have done very well in the energy and pharmaceutical industries, which are based in Mumbai. With a gain of 116%, real estate magnate Mangal Prabhat Lodha and his family were the wealthiest people in Mumbai.
Indian millionaires have taken a little tumble in the world's richest list, but Mukesh Ambani has held firm at number ten thanks to a meteoric rise in fortune at Reliance Industries. The meteoric rise in fortune of Gautam Adani catapulted him eight spots to the fifteenth spot on the global wealth index.
Shiv Nadar and his family saw a tremendous rise in wealth and a significant jump in global position, going from 34th to 16th. On the other hand, Cyrus S. Poonawalla of the Serum Institute saw a slight decline, falling nine spots to 55th, with a total wealth of $82 billion.
Kumar Mangalam Birla (100), Sun Pharmaceuticals' Dilip Shanghvi (61st position), and others contribute to the dynamics of India's billionaire cohort. Radhakishan Damani has risen eight spots to number 100 thanks to his moderate but consistent wealth growth, which has been fueled by the success of DMart.
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