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Mumbai Becomes Asia's Billionaire Capital; Mukesh Ambani Tops India's List Hurun India reported on March 26 that 94 new Indians have joined the global billionaires list, bringing the total number of billionaires in the nation to 271 with a combined USD 1 trillion worth.

By Entrepreneur Staff

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Mukesh Ambani/LinkedIn

According to Hurun Research Institute's Global Rich List 2024, Mumbai has surpassed Beijing as Asia's billionaire capital for the first time, and Mukesh Ambani stands at the top of the list of 271 Indian billionaires.

Mumbai was the fastest-growing billionaire capital in the world, adding 26 in a year to take third place globally and as Asia's billionaire capital, according to the Hurun Global Rich List 2024. New Delhi made its maiden appearance in the Top 10.

Hurun India's report, which was released on March 26, states that 94 new Indian billionaires have joined the global list, bringing the total number of billionaires in the nation to 271 with a combined worth of USD 1 trillion.

Mukesh Ambani, the chairman and managing director of Reliance Industries and a well-known businessman in India, became the only person from India to rank in the top 10 on the Hurun Global Rich List 2024.

With 119 billionaires, New York City led the list, followed by London with 97 billionaires. With 57 millionaires, New Delhi has now joined the list for the first time ever. Mumbai alone has added 26 entries to the list.

Gautam Adani, another business tycoon from India, comes in at number 15 on the global rich list with USD 86 billion, a 33% increase in wealth.

Among the new billionaires on the list are Asian Paints' Ina Ashwin Dani and Sterling Investments' Rohiqa Cyrus Mistry, the late Cyrus Mistry's wife.

With 814 billionaires, China was first on the list. However, the country's list of the ultra-rich was whittled down by 155 starting in 2022, as a result of the downturn in the economy and the underperformance of industries like real estate and renewable energy. Along with the country's overall wealth falling by 15%, 40 billionaires were removed off the list.

With 109 additional billionaires, the US now stands second on the list with 800 total billionaires. Taylor Swift, who is worth USD 1.2 billion, was added to the list as well.

The US made up 37% of the world's wealthiest list, and the country's billionaire population increased by 5% while their overall net worth increased by 9%.

Entrepreneur Staff

Entrepreneur Staff


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