Mumbai surpasses Beijing to claim Asia's billionaire crown as India outpaces China in billionaire growth

In another first, New Delhi has secured a spot among the top 10 cities with the highest billionaire populations.

The rise of Indian cities on the global wealth map is further underscored by the fact that India has added a remarkable 94 billionaires in the past year, outpacing China's addition of 55.

However, the report also sheds light on a contrasting trend in wealth distribution. While India has seen a surge in billionaire numbers, a staggering 573 Chinese billionaires witnessed a decline in their wealth, in stark contrast to the mere 24 Indian billionaires facing similar circumstances.

Mukesh Ambani stood out as the lone Indian representative among the top 10 billionaires with a staggering net worth of $115 billion.

Topping the global rich list is Elon Musk, whose fortune is valued at $231 billion. Following closely behind is Jeff Bezos, the former Amazon chief, with a wealth of $185 billion. Bernard Arnault rounds up the top three with a fortune totalling $175 billion.

China continued to assert its presence in the global billionaire landscape, boasting 814 billionaires, surpassing the United States' count of 730. India, with its burgeoning billionaire class, held the third place with 271 billionaires.

Amidst the celebration of India's rise, the global landscape of billionaire wealth, as shared in the Hurun Rich List 2024, also reflects a tale of gender disparity. While China leads with 178 women billionaires and the United States follows with 113, India has only 19 women billionaires.