Mumbai becomes the billionaire capital of Asia, overtakes China's Beijing

In a significant shift, Mumbai has emerged as Asia's billionaire hub, surpassing Beijing for the first time, according to the latest findings from Hurun Research's 2024 Global Rich List.

Mumbai vs Beijing

Despite China boasting 814 billionaires compared to India's 271, Mumbai now hosts 92 billionaires, just edging out Beijing's 91.

Mumbai at global level

This milestone places Mumbai third globally in billionaire density, trailing only New York, which reclaims its top position after seven years with 119 billionaires, and London with 97.

Mumbai's ascent is credited to the addition of 26 new billionaires within a year, while Beijing saw a net decrease of 18 billionaires during the same period. This transformation underscores Mumbai's growing influence as a financial powerhouse on the global stage.