For the first time, Mumbai beats Beijing as Asia’s billionaire capital

For the first time, Mumbai beats Beijing as Asia’s billionaire capital, For the first time, Mumbai becomes Asia’s billionaire capital after taking over Beijing as the most populous city in the world.

The cumulative wealth of Indian billionaires has surpassed that of Chinese billionaires, according to the 2024 Hurun Global Rich List, published by Business Standard, which reveals that Indian billionaires’ wealth is higher than that of Chinese billionaires (US$3.2 billion versus US$3.8 billion).

The rise of India’s billionaire population to 95 in one year has cemented its position as the second-largest contributor to the global billionaire population, surpassing China’s 55 and solidifying the country’s position as the second-largest contributor to it.

As a result, India has now surpassed Germany as the country with the most billionaires in the world, with 271 billionaires.

A major difference between India and the rest of the world was the performance of its billionaires, which increased modestly by 5% globally.

After the US (109), the country witnessed the second-highest number of billionaires born in the world (94) as a result of a meteoric rise in the amount of new billionaires.

It is thought that this surge has catapulted India into the third position in the global economic landscape, surpassing Germany and indicating a potential shift in the global economic landscape.

Despite the fact that Mukesh Ambani remains Asia’s richest individual, it is the sheer number of new entrants that constitutes the real success.

Unlike China, where only 24 billionaires experienced a decline in their fortune, India boasts a remarkable 247 billionaires who witnessed their wealth increase, which was much higher than China’s 241.

It is evident from this robust growth that India has seen a cumulative increase in wealth of 51%.

Timenews1.com provided that news.