Hurun India Rich List 2024: Mumbai surpasses Beijing to become the billionaire capital of Asia

India's financial capital Mumbai has become the 'billionaire capital' of Asia as it now comprises of more billionaire individuals than China's capital city of Beijing, according to the Hurun India Rich List 2024.

"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 stated.

Beyond this, Mumbai also registered a net increase of 58 billionaire individuals, adding to its growth momentum, the Hurun data revealed. This was followed by New Delhi, which added 18 new billionaires.


India also beat China in terms of net billionaires, the list further stated. While India recorded an influx of 29 per cent more billionaires in the country, billionaires in China decreased by 25 per cent.

“India is emerging as Asia’s wealth creation engine! While China saw a 25% decline in its number of billionaires, India experienced a 29% increase, reaching a record 334 billionaires," said Anas Rahman Junaid, Founder and Chief Researcher, Hurun India.

Mumbai's second innings in the 'game of billionaires'

In March 2024, Mumbai first surpassed China's capital to emerge as Asia's billionaire hub.

The Hurun Global Rich List 2024 had said that Mumbai comprised of 92 billionaires, only third to New York which led the list with 119 billionaires and London, which houses 97 billionaires.

Mumbai has, in the last one year, added 26 new billionaires, with a total billionaire weath at $445 billion.

Beijing, on the other hand, recorded a decline of 28 per cent billionaires by March 2024, with total billionaire weath for the city at $265 billion.