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Mumbai has Third Most Billionaires in the World

Compiled/ partly written by Melvin Durai Email Compiled/ partly written by Melvin Durai
May 2024
Mumbai has Third Most Billionaires in the World

Mumbai has 92 billionaires and is now the billionaire capital of Asia, according to the Harun Global Rich List 2024. India’s financial capital dethroned Beijing by gaining 26 billionaires over the past year, while Beijing lost 18— perhaps they owned stock in Twitter— and now has 91 billionaires.

Only two cities in the world now have more billionaires than Mumbai: New York with 119 and London with 97. Altogether, there are 3,279 billionaires in the world, with China having the most (814) and the United States close behind (800). While the U.S. added 109 billionaires to its total over the past year, India added 84, and now has 271 billionaires, the third most globally.

‘’The 2024 Hurun Global Rich List underscores India’s ascension as a future economic titan, poised to secure its place as the world’s thirdlargest economy,” said Anas Rahman Junaid, founder and chief researcher of Hurun India. “Surpassing all but the United States, India’s unprecedented billionaire boom propels Mumbai past Beijing, crowning it as Asia’s billionaire epicentre. Yet, as we stand on the brink of revolutions in electric vehicles, space technology, and AI, India’s startup ecosystem is just beginning to unveil its potential. The next decade holds a clear message: overlooking the Indian narrative is a risk no visionary can afford.”

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Compiled and partly written by Indian humorist MELVIN DURAI, author of the novel Bala Takes the Plunge.

[Comments? Contributions? We would love to hear from you about Chai Time. If you have contributions, please email us at melvin@melvindurai.com. We welcome jokes, quotes, online clips, and more.]

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