Hurun Rich List: Mumbai Overtakes Beijing As Asia's Billionaire Capital

India's financial hub Mumbai has claimed the title of "billionaire capital of Asia," surpassing Beijing in the number of billionaires, according to the 2024 Hurun India Rich List.

Mumbai saw an increase of 58 billionaire individuals, taking its total to 386 on the list.

"Home to 25% of the list - Mumbai is not only the billionaire capital of Asia, overtaking Beijing but also the preferred city for Hurun India Rich Listers, followed by New Delhi and Hyderabad," Hurun List noted.

In terms of billionaire count, Delhi comes in second with 18 new entries, totalling 217 billionaires.

Hyderabad, for the first time, has outpaced Bengaluru, securing third place with 104 billionaires after adding 17 new ones.

Bengaluru now holds the fourth position with 100 billionaires.

Chennai, Kolkata, and Ahmedabad also made their mark on the list, with billionaire counts of 82, 69, and 67, respectively.

Pune follows with 53, while Surat and Gurugram are also in the top 10 with 28 and 23 billionaires respectively.

The 2024 Hurun Rich List further highlights Mumbai's dominance as "Asia's billionaire epicentre," with 92 billionaires now residing in the city, overtaking Beijing's 91.

Over the past year, Mumbai added 26 new ultra-wealthy individuals, collectively possessing a wealth of $445 billion, while Beijing saw a decline with 18 billionaires leaving the city.

Globally, Mumbai now ranks third in the number of billionaires, trailing only New York, which leads with 119, and London, with 97 billionaires.

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