Mumbai has emerged as Asia’s ‘billionaire capital,’ surpassing Beijing in the number of billionaires, according to the Hurun India Rich List 2024. This shift highlights India’s growing prominence in the global wealth landscape.
The report indicates that India has seen a 29% increase in its billionaire population, while China has experienced a 25% decrease. This marks a significant turnaround in the distribution of wealth between the two countries.
Read more: Indian Actress Payel Mukherjee Assaulted During Traffic Jam Amid Kolkata Anti-Rape Protests
Anas Rahman Junaid, Founder and Chief Researcher at Hurun India, emphasized that India is becoming the leading engine of wealth creation in Asia, with a record 334 billionaires now residing in the country.
Mumbai’s Second Innings in the ‘Game of Billionaires’
In March 2024, Mumbai overtook Beijing to become Asia’s top billionaire hub, according to the Hurun Global Rich List 2024. The list revealed that Mumbai had 92 billionaires, ranking third globally behind New York with 119 billionaires and London with 97 billionaires.
Over the past year, Mumbai has added 26 new billionaires, bringing its total billionaire wealth to $445 billion. In contrast, Beijing experienced a 28% decline in its billionaire population by March 2024, with total billionaire wealth amounting to $265 billion.
