Mumbai Surpasses Shanghai in Number of Billionaires, New Report Reveals
Mumbai Surpasses Shanghai in Billionaires
The city of Mumbai has officially surpassed Shanghai as Asia’s capital city with the most billionaires, according to a new Hurun Global Rich List 2024 report.
Indian Financial Status Rises
Mumbai, India’s financial powerhouse, now has 92 billionaires, closely edging out Beijing’s 91 and Shanghai with 87.
Global Rankings Shift
New York City remains at the top with 119 billionaires, while China continues to lead in total billionaire count with 814, despite a significant decrease.
AI's Role in Wealth Growth
The rapid development of Artificial intelligence (AI) has spurred wealth growth, contributing to over half of all new wealth this year, according to the report.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.