Mumbai Ranks No. 3 In Top Asia Billionaires List

Mumbai Ranks No. 3 In Tops Asia Billionaires List: Mumbai became Asia's billionaire capital for the first time after overtaking the Chinese megalopolis.

While China has 814 billionaires compared to India's 271, Mumbai hosts 92 billionaires against 91 in Beijing, Hurun Research's 2024 Global Rich List showed.

Mumbai now ranks third globally in terms of billionaires after New York, which regained its top status after seven years with 119 billionaires, followed by London with 97.

With 26 new billionaires added in a year, the Maximum City has surpassed China's political and cultural capital.

Meanwhile, Beijing has seen 18 former billionaires drop off the list.

In Mumbai, the total billionaire wealth is $445 billion, up 47% from the previous year, while in Beijing, it is $265 billion, down 28%.

There have been significant gains for billionaires like Mukesh Ambani in Mumbai's energy and pharmaceutical sectors.

Mumbai's biggest wealth gainer (116%) was Mangal Prabhat Lodha (and his family).

Mukesh Ambani maintains his position at 10th in the global rich list with a substantial increase in wealth mainly attributed to Reliance Industries. As a result of Gautam Adani's remarkable rise in wealth, he rose eight places to 15th in the world.

HCL's Shiv Nadar and his family have seen their wealth and global ranking rise (16 places to 34). On the other hand, Cyrus S Poonawalla of Serum Institute declined nine places to rank 55 with a total wealth of $82 billion.

Dilip Shanghvi (61st position) and Kumar Mangalam Birla (100th position) also contribute to the dynamics of India's billionaire cohort.

As a result of DMart's success, Radhakishan Damani's wealth has increased modestly yet steadily, moving him up eight places to number 100.

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