Mumbai Emerges As Asia's Top Billionaire Hub Surpassing Beijing; Ranks Third Globally

According to the latest report from the Hurun Research Institute, Mumbai has risen as the new billionaire hub in Asia, outpacing Beijing.

With 92 billionaires, the financial hub of India has taken the country’s billionaire count to 271.

The report stated, "Mumbai was the fastest-growing billionaire capital in the world, adding 26 in the year and taking it to third in the world. New Delhi broke into the Top 10 for the first time.”

The top 5 nations in terms of number of billionaires are China, United States, India, United Kingdom and Germany.

The five cities with the highest number of billionaires are New York (USA), London (UK), Mumbai (India), Beijing (China), and Shanghai (China).

The report reveals that the threshold for making up to the Hurun Top 10 has more than tripled in the past decade, now standing at over $100 billion. These elite ten on the list accounted for a remarkable 60% of this year's newly generated wealth.