New Delhi Breaks into Top 10 Cities Worldwide for Billionaires.

Representational Image | Source: Pixabay

New Delhi has joined the elite club of the world’s top 10 cities with the most billionaires, making its debut at ninth place, with a total of 57 billionaires, as per the latest Hurun Rich List 2024. This marks a significant jump for the national capital, with an increase of 18 billionaires compared to the previous year.

Taking a closer look at the top 10 cities with the highest number of billionaires globally, New York leads the pack with 119 billionaires, followed by London with 97, and Mumbai with 92. Beijing, Shanghai, Shenzhen, Hong Kong, Moscow, and San Francisco also feature prominently on the list.

Mumbai, known as India’s financial powerhouse, has emerged as the fastest-growing billionaire city worldwide, further cementing its status as Asia’s billionaire capital. India, as a whole, welcomed 94 new billionaires, the second-highest after the United States. The country now boasts a total of 271 billionaires.

The surge in wealth among Indian billionaires can be largely attributed to key industries such as pharmaceuticals, automobiles, auto components, and chemicals. Collectively, Indian billionaires hold a staggering $1 trillion in wealth, accounting for 7% of the world’s total billionaire wealth. The average age of Indian billionaires is 67, with 19 of them being women.

Among the standout figures contributing to India’s billionaire club, Gautam Adani and his family have seen a significant increase in wealth, thanks to the success of their energy conglomerate, the Adani Group. Mukesh Ambani and his family have retained their position as India’s richest, with Mukesh Ambani being the only Indian to feature in the world’s top 10 richest individuals.