Hurun India Rich List 2024: Mumbai trounces Beijing to become Asia’s billionaire capital

Mumbai, the financial hub of India, has surpassed China’s Beijing to become the billionaire capital of Asia, according to the Hurun India Rich List 2024.

“Home to 25 percent of the list – Mumbai is not only the billionaire capital of Asia, overtaking Beijing but also the preferred city for Hurun India Rich Listers, followed by New Delhi and Hyderabad,” the Hurun List data stated as quoted in media reports.

The data further revealed Mumbai has registered an overall surge of 58 billionaire individuals.Mumbai is followed by New Delhi, the national capital of India, and Hyderabad, capital of the southern Indian state of Telangana.

According to a CNBCTV18 report quoting the List, city-wise, Hyderabad added 17 new wealthy individuals, followed by Bengaluru with 100, Chennai with 82, and Kolkata with 69.

Indore and Jaipur, each with nine rich individuals, have made their debut on the list, the report said.
India pipped China also in terms of net billionaires.India has recorded an increase in billionaires by 29 percent while China saw a dip by 25 percent.

“India is emerging as Asia’s wealth creation engine! While China saw a 25 percent decline in its number of billionaires, India experienced a 29 percent increase, reaching a record 334 billionaires,” Anas Rahman Junaid, founder and chief researcher of Hurun India, was quoted by Economic Times.

Meanwhile, Gautam Adani and his family have claimed the top position in the 2024 Hurun India Rich List, with a Rs 11.6 lakh crore fortune, overtaking Mukesh Ambani of Reliance Industries. He is now officially the richest person in India. In 2020, Adani ranked fourth on the list.His wealth has increased by 95% over the past year, driven by a remarkable rebound following scrutiny from the Hindenburg report.

“Rising like a phoenix after the Hindenburg allegations, Gautam Adani (62) & family have secured the top spot in this year’s rankings, with a 95% increase in wealth compared to last year, bringing their total to INR 1,161,800 Cr. “As a self-made entrepreneur, Adani has recorded the highest wealth growth within the top 10 over the past five years, adding INR 1,021,600 Cr, despite the challenges following the report,” the Hurun Rich List says.

With an estimated wealth of INR. 7,300 crore (73 billion), Bollywood superstar Shah Rukh Khan has bagged himself a top position in the 2024 Hurun Rich List.

Khan, 58, has built a business empire beyond his acting career.

His production house, Red Chillies Entertainment, and his stake in Kolkata Knight Riders, who won the Indian Premier League 2024, have played pivotal roles in his growing wealth.