Mumbai is now Asia's billionaire capital, beating Beijing. This was revealed by the Hurun Global Rich List 2024, which was published on Monday, Mar. 25.

The report stated that Mumbai is the fastest-growing billionaire capital across the globe right now. This is thanks to numerous industries in India, which are growing pretty fast.

Mumbai Becomes Asia's Billionaire Capital After Beating Beijing

According to NDTV's latest report, Mumbai now has 92 billionaires. Meanwhile, Beijing has 91 billionaires. Although the difference is not that big, this is still a big deal for Mumbai.

Aside from billionaire individuals, Mumbai also added 26 new ultra-rich to the club. On the other hand, China's capital lost 18 billionaires.

"Mumbai was the fastest-growing billionaire capital in the world, adding 26 in the year and taking it to third in the world and Asia's billionaire capital," said the Hurun Global Rich  List.

Nikkei Asia provided the list of the top 10 Asian cities in terms of billionaires:

1. Mumbai
2. Beijing
3. Shanghai
4. Shenzhen
5. Hong Kong
6. New Delhi
7. Bangkok
8. Taipei
9. Hangzhou
10. Singapore

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Indian Industries Contributing To Mumbai's Achievement

Numerous Indian industries greatly contributed to the success of Mumbai in becoming Asia's billionaire capital. Among them are automobiles, auto components, and pharmaceuticals.

Mumbai's success was led by business leaders, such as Gautam Adani (Adani Group) and Mukesh Ambani (Reliance Industries). It was also aided by a robust economy, which grew by 7.5% in 2023.

There are also some new faces in India's rising economy, including Ina Ashwin Dani (Asian Paints) and Rohiqa Cyrus Mistry (Sterling Investments).

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