Mumbai On Top: City Of Dreams Pips Beijing To Become 'Billionaire Capital' Of Asia

Mumbai, the capital of Maharashtra which has many names and tags attached to its existence has another distinction bestowed upon it. For the first, Mumbai has become the 'Billionaire Capital' of the largest and most populous continent in the world, Asia.

In the process, the city went past the China's economic colossuses of Shanghai and its capital, Beijing.

Mumbai currently is the abode to 92 billionaires, compared to Beijing's 91.

The island city's pack of rich is led by Asia's richest person and head of Reliance Industries, Mukesh Ambani. Ambani, like the city of Mumbai returned to the position of the richest on the continent, after shadowing China's Zhong Shanshan.

Nevertheless, China continues to house sizeable chunk of world billionaires with 814 of the super-rich living in land of the dragon.

The list of the cities with most number of ultra-wealthy is headed by the country with the most number of billionaires, the USA. The 'Big Apple', New York, tops the list with 119, it is followed by the British capital, London with 97.

India has another entrant in the literal pool of wealth amongst cities, with the national capital New Delhi positioning itself on the sixth rung on the list of cities in Asia, behind the 'financial capital of India' .

Coming back to individual billionaires, Mukesh Ambani who leads the pack, is understandably on the list of the Richie riches across the globe, occupying the 11th position, with USD 111 billion, according to Bloomberg.

The population of the city of Mumbai stands around 21 million or 2 crore. With a median income of around Rs 20,000 a month or around 2,40,000 per annum, these astronomical number of billions only affect the one who have it, as the income gap between the richest and the poorest in the country only scales further.

Published on: Tuesday, March 26, 2024, 10:10 AM IST