According to the latest 2025 Global Rich List released by the Hurun Research Institute, Mumbai has climbed to the 6th position globally in terms of the number of billionaires residing in the city. With a total of 67 billionaires, Mumbai has reinforced its status as India’s commercial capital and a rising hub of global wealth.
The report evaluates cities based on the number of US dollar billionaires — individuals whose net worth exceeds one billion dollars. It factors in assets held in public companies, private investments, and other measurable sources of wealth. Mumbai’s presence in the top 10 for the first time marks a significant shift in global wealth distribution patterns.
Global Ranking Highlights:
- New York City retains its lead as the city with the most billionaires, with 119 billionaires calling it home. The city continues to dominate due to its position as a financial, media, and business powerhouse in the United States.
- Hong Kong ranks second with 110 billionaires, followed closely by Beijing, which is in third place with 105 billionaires. Beijing continues to lead mainland China’s wealth concentration, thanks to its booming tech and real estate sectors.
- Shanghai and London hold the fourth and fifth positions, with Mumbai surpassing cities like San Francisco, Shenzhen, and Singapore to take the sixth spot.
Mumbai’s rise is driven by the continued success of Indian entrepreneurs and industrialists across diverse sectors. Key names contributing to the city’s billionaire count include Mukesh Ambani, Gautam Adani, Radhakishan Damani, and others from industries such as telecommunications, energy, retail, infrastructure, and pharmaceuticals.
India’s economic expansion, particularly post-pandemic, has led to increased wealth creation across metro cities. Mumbai, being the financial capital, has attracted significant foreign direct investment and continues to be the base for major companies listed on the Bombay Stock Exchange and National Stock Exchange.
The report also notes the emergence of new billionaires in Mumbai from the startup and technology ecosystem, a space traditionally dominated by Bengaluru. This indicates that wealth creation in Mumbai is diversifying beyond traditional business families and sectors.
India’s Overall Position:
India now has over 200 billionaires, making it the third-largest country globally in terms of billionaire population, after the United States and China. Delhi and Bengaluru also feature prominently in national rankings, though they fall short of the global top 10.
Experts suggest that India’s improving ease of doing business, digital transformation, and growing domestic demand are major contributors to wealth creation. Government policies supporting manufacturing, exports, and innovation are expected to further accelerate this trend.
Mumbai’s position as the 6th richest city by billionaire count signals India’s growing economic clout and its potential to become a leading player in global financial and business networks in the years to come.
