India’s financial capital, Mumbai, has earned the distinction of becoming the Asian capital with the greatest number of billionaires, overtaking China’s capital Beijing as per the Hurun Global Rich List 2024. Notably, this is the first time India’s most populous city has reached the pinnacle and secured a top spot in Asia. 

In the Global Rich List 2024, New York City tops the spot, securing 119 billionaires globally, followed by London with 97. Mumbai in Asia secures the third spot ahead of China’s capital, Beijing (91) and Shanghai (87). 

India’s National Capital, New Delhi has also made a notable debut for the first time by securing 9^th spot with the most billionaires. 

Here are the top 10 global cities with the most billionaires: 

• New York 119 billionaires 

• London 97 billionaires 

• Mumbai 92 billionaires 

• Beijing 91 billionaires 

• Shanghai 87 billionaires 

• Shenzhen 84 billionaires 

• Hong Kong 65 billionaires 

• Moscow 59 billionaires 

• New Delhi 57 billionaires 

• San Francisco 52 billionaires 

According to the report, there are 3,279 billionaires in the world today, which is 5% up as compared from the previous year. 

However, despite losing 155 billionaires from a year ago, China remains at the top, with 814 billionaires according to the country ranking. While the United States and India come in second and third in the list with 800 and 217 billionaires, respectively. 

Here are the top 10 countries with the most billionaires: 

• China: 814 billionaires 

• United States: 800 billionaires 

• India has 271 billionaires 

• United Kingdom 146 billionaires 

• Germany: 140 billionaires 

• Switzerland 106 billionaires 

• Russia 76 billionaires 

• Italy 69 billionaires 

• France 68 billionaires 

• Brazil: 64 billionaires 

 Further, the research firm has revealed that China had a difficult year, “Wealth creation in China has gone through deep changes these last few years, with the wealth of billionaires from real estate and renewables down.” 

Moreover, according to the 2024 Hurun India Rich List, Mumbai has seen a significant increase of 58 billionaires this year, bringing its total to 386, making it Asia’s leading state with the largest wealthy residents. 

According to the Hurun list date read, “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.” 

Following Mumbai, Delhi, and Hyderabad comes second and third in the list, securing 217 and 104 billionaires, respectively. While for the first time Bengaluru has faced a drop and claimed the fourth spot in terms of billionaire residents. Hyderabad secures third place in the list, which is an increase of 17 as compared to last year, surpassing Bengaluru, which currently has 100. 

Here’s the list of billionaires as per Hurun’s Rich List: 

• 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 

India has seen a second-largest surge in new additions to its billionaire list. With a net worth of $100 billion, Reliance Industries Chairman Mukesh Ambani continues to be the richest person in Asia and is positioned 11^th worldwide. 

Additionally, Gautam Adani, the founder of the Adani Group, is currently three spots behind Ambani with a net worth of $97.9 billion globally.