New Delhi, Mar 26 (EFE).- India’s Mumbai has dethroned Beijing to become the billionaire capital of Asia, according to Hurun Research’s 2024 Global Rich List published on Tuesday.
The Indian financial and entertainment capital has 92 billionaires as against 91 in the Chinese metropolis.
“Mumbai overtook Beijing to become Asia’s billionaire capital for the first time and break into the world’s top three,” said the Hurun Report, considered the Chinese equivalent of the US’ Forbes magazine list.
Mumbai, in the Western Indian state of Maharashtra, was the “fastest-growing billionaire capital in the world,” Hurun said.
With 26 new billionaires in 2024, the coastal city of India took the third spot in a list of cities housing the highest number of billionaires, the report said.
New York and London occupied the first and second positions with 119 and 97 billionaires, respectively.
Indian capital New Delhi “entered the top-10” list for the first time, at ninth position, with 57 billionaires, the report said.
India added 84 billionaires in 2024 to take the total count to 271, compared to the UK with 146 billionaires, Hurun said.
Leading the Indian billionaires list was Mukesh Ambani, who, with an estimated net worth of $115 billion, maintains the title of Asia’s richest person.
According to the report, the $8.5 billion merger of Ambani’s Reliance Industries with Walt Disney to combine their television and streaming assets in the country was among the most significant transactions of the year.
Gautam Adani, India’s second richest man with $86 billion assets, “witnessed a $33 billion surge in wealth this year” attributed to a rally in his companies’ shares after India’s Supreme Court refused to investigate allegations of stock price manipulation by his company, Adani Group.
Adani’s fortune took a hit last year after the US short-seller Hindenburg Research published a report in January 2023 accusing his conglomerate of engaging in market manipulation and other fraudulent practices. EFE
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