"Mumbai Surpasses Beijing as Asia's Billionaire Capital"
Originally Published 1 year ago — by CNBC
Mumbai has surpassed Beijing to become the city with the most billionaires in Asia, with 92 billionaires, according to Hurun Research Institute's global rich list. The top three cities with the most billionaires are New York, London, and Mumbai. China still leads the world in the number of billionaires, but the U.S. added 109 billionaires in 2023. India's economy is rapidly growing, with 84 new additions to its ultra-rich list, and its stock market has overtaken Hong Kong's to become the seventh largest in the world. Mukesh Ambani of Reliance Industries remains the wealthiest person in Asia, while Gautam Adani briefly overtook him in January.