Mumbai Surpasses Beijing as Asia’s Billionaire Capital | Full List

Mumbai: Mumbai has emerged as Asia's "billionaire capital," surpassing Beijing in the number of billionaires, according to the 2024 Hurun India Rich List. The financial capital of India saw a remarkable increase of 58 billionaires this year, bringing its total to 386, making it the leading city in Asia for wealthy residents. 

"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," the Hurun list data read.

Following Mumbai, Delhi ranks second, with 18 new billionaires added this year, totalling 217 on the rich list. Hyderabad has seen massive growth, surpassing Bengaluru for the first time to claim the third spot in terms of billionaire residents. Hyderabad now hosts 104 billionaires, an increase of 17, while Bengaluru has 100.

The top cities for billionaires, according to the Hurun list, are:

• Mumbai - 386 billionaires
• Delhi - 217 billionaires
• Hyderabad - 104 billionaires
• Bengaluru - 100 billionaires
• Chennai - 82 billionaires
• Kolkata - 69 billionaires
• Ahmedabad - 67 billionaires
• Pune - 53 billionaires
• Surat - 28 billionaires
• Gurugram - 23 billionaires

Earlier this year, the Hurun Global Rich List 2024 highlighted Mumbai’s ascent as Asia’s billionaire epicentre. With 92 billionaires, Mumbai has edged past Beijing, which now has 91. The total wealth of Mumbai's billionaires stands at $445 billion, compared to Beijing's decreased wealth of 18 billionaires.

Globally, Mumbai ranks third in the number of billionaires, trailing behind New York (119) and London (97). Mumbai's swift rise in the number of billionaires has firmly established it as a key global wealth centre. Meanwhile, New Delhi has made a notable debut in the Top 10 list of cities with the most billionaires for the first time.