According to the Global Rich List, Mukesh Ambani has risen to the 10th position in wealth, largely credited to Reliance Industries. Similarly, Gautam Adani has reached the 15th position.
Surpassing Beijing, Mumbai has become the new capital of Asia's billionaires for the first time. Mumbai now boasts more billionaires than Beijing. According to the 2024 Global Rich List by Hurun Research, Mumbai has 92 billionaires compared to Beijing's 91. However, in contrast to China's 271, there are 814 billionaires in India.
After New York, Mumbai now stands third globally in terms of billionaires. New York leads with 119 billionaires, followed by London with 97. Mumbai secures the third position in this aspect.
New Billionaires in Mumbai:
Mumbai has seen the addition of 26 new billionaires, surpassing Beijing in both political and cultural aspects. Meanwhile, Beijing has witnessed a decrease of 18 billionaires.
Total Billionaire Wealth:
The total wealth of Mumbai's billionaires amounts to $445 billion, which is a 47% increase from the previous year. On the other hand, Beijing's total billionaire wealth has decreased by 28% to $265 billion.
Billionaires in the City:
Mumbai's wealth sectors include energy and pharmaceuticals, featuring names like Mukesh Ambani among the billionaires. Real estate player Mangal Prabhat Lodha (and family) has gained the most wealth.
Improvements in Global Ranking:
According to the Global Rich List, Mukesh Ambani has maintained the 10th position with an increase in wealth, largely credited to Reliance Industries. Similarly, with an increase in Gautam Adani's wealth, they have climbed eight places to reach the 15th position globally. Both the wealth and global ranking of HCL's Shiv Nadar and his family have improved significantly, reaching the 34th position, climbing 16 spots.
Declines in Ranking:
The Global Rich List shows a slight decline in the global ranking of some Indian billionaires. Cyrus S. Poonawalla of Serum Institute saw a modest decline in total wealth, dropping to the 55th position from 9th. Contributions from Indian billionaire groups include Dilip Shanghvi of Sun Pharmaceuticals (61st) and Kumar Mangalam Birla (100th). Meanwhile, Radhakishan Damani climbed eight places to reach the 100th position.