Mumbai has overtaken Beijing to become Asia’s billionaire capital: Hurun report

Mumbai has overtaken Beijing to become Asia’s billionaire capital: Hurun report

Hurun research institute has recently released its global rich report 2024 and according to that report now Mumbai has surpassed China’s capital Beijing to become Asia’s billionaire capital. Mumbai has made its place on top by becoming the home of 92 billionaires more than that of Beijing.

Asia’s billionaire capital:

By surpassing Beijing, Mumbai has claimed the status of being the Thriving place of wealth creation in Asia. According to the report Mumbai has become the fastest growing billionaire capital in Asia and approximately around 26 billionaires add in every year.

Mumbai has become the world’s third and Asia’s top billionaire capital as per the report. Along with that for the first time New Delhi has made its place in the top 10 capitals.

India is growing rapidly and the number of billionaires every year is speeding up fastly as India has added 96 new billionaires. This is the highest number after the United States any country can expect.

Top Industries:

The report also mentioned some specific Industries which contribute the most in forming billionaires. Pharmaceutical sector is the top in that list with 39 billionaires. Automobile sector secured second spot with 27 billionaires followed by the chemical sector with 24 billionaires.

If we talk about the collective wealth of India’s billionaires population, the number goes up to $1 trillion and this is around 7 percent of total global billionaire wealth.

Mukesh Ambani, chairman of Reliance Industries, tops the list of Indian billionaires with a total net worth of $115 billion. Gautam Adani who is the founder of Adani Group secured second place by a total net worth of $86 billion.

AI dominance:

According to the Hurun research institute report, AI is a dominant factor in the global economy. Artificial intelligence is responsible for more than a half of this year’s new wealth creation. Artificial intelligence is in chip making technology and cloud computing technology responsible for increasing the wealth in these sectors.

Conclusion:

Despite losing the number of billionaires, China is still top in the world by having 814 billionaires and the United States comes second spot by having 800 total billionaire population.

Important Questions:

• Who is the richest person in India as per the hurun research institute report 2024?
• Which city has become the Asia’s billionaire capital as per the Hurun research institute report 2024?

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