Mumbai Emerges as Asia’s New ‘Billionaire Capital’
Mumbai, the financial hub of India, has clinched the title of Asia's new "billionaire capital," boasting a staggering 92 billionaires within its boundaries.
Surpassing Beijing, Mumbai’s rise to prominence in the billionaire realm was revealed in a report by Nikkei Asia, based on data from the Hurun Research Institute headquartered in Shanghai.
The report indicates that New York leads globally with 119 billionaires, followed closely by London with 97. Mumbai secures a remarkable third position worldwide with its impressive tally of 92 billionaires.
Remarkably, India is home to only 271 billionaires in total. Mumbai’s economic growth surged by 7.5% in 2023, underlining its growing stature as a financial powerhouse.
In contrast, China tops the global chart with 814 billionaires, although the number witnessed a slight dip of 155 individuals compared to the previous year. The United States follows closely behind, boasting 800 billionaires.
The ascendancy of the artificial intelligence and information technology sectors has bolstered the US economy significantly. Notably, Jensen Huang, CEO of US chipmaker Nvidia, secured a spot among the top 30 billionaires with a net worth of $48 billion.
Furthermore, substantial gains were observed in the fortunes of tech giants such as Google, Meta, and Microsoft. Additionally, American singer Taylor Swift’s net worth surged to an impressive $1.2 billion, reflecting diverse avenues of wealth generation beyond the tech sector.
