Transfer over, Beijing.
Mumbai is now the Asian capital with essentially the most variety of billionaires, overtaking Beijing, in response to Hurun Analysis Institute’s international wealthy record.
That is the primary time that India’s most populous metropolis has taken the highest spot in Asia.
Topping the 2024 international wealthy record for cities is New York (119), adopted by London (97). In Asia, Mumbai — India’s monetary capital — moved forward with 92 billionaires, in response to Hurun. Following shut behind are Beijing (91) and Shanghai (87).
High 10 cities with essentially the most billionaires
Rank | Metropolis | Variety of billionaires |
---|---|---|
1 | New York | 119 |
2 | London | 97 |
3 | Mumbai | 92 |
4 | Beijing | 91 |
5 | Shanghai | 87 |
6 | Shenzhen | 84 |
7 | Hong Kong | 65 |
8 | Moscow | 59 |
9 | New Delhi | 57 |
10 | San Francisco | 52 |
Supply: Hurun Analysis Institute
There are presently 3,279 billionaires globally, a 5% enhance from 2023, the report confirmed.
Based on the nation rating, China nonetheless tops the record with 814 billionaires although the nation misplaced 155 billionaires from a 12 months in the past. The U.S. got here in second with 800 billionaires whereas India got here in third with 271.
“China had a foul 12 months,” the analysis agency famous. “Wealth creation in China has gone by way of deep adjustments these previous few years, with the wealth of billionaires from actual property and renewables down.”
High 10 nations with essentially the most billionaires
Rank | Nation | Variety of billionaires |
---|---|---|
1 | China | 814 |
2 | United States | 800 |
3 | India | 271 |
4 | United Kingdom | 146 |
5 | Germany | 140 |
6 | Switzerland | 106 |
7 | Russia | 76 |
8 | Italy | 69 |
9 | France | 68 |
10 | Brazil | 64 |
Supply: Hurun Analysis Institute
China’s Zhong Shanshan, founder and chairman of bottled water large Nongfu Spring, maintained his spot as China’s richest particular person. Colin Huang, founding father of e-commerce participant Pinduoduo, leaped forward of Tencent CEO Ma Huateng and snatched second place this 12 months.
The U.S. – which added 109 billionaires in 2023 — solely has 14 billionaires fewer than China, in response to Hurun.
Synthetic intelligence was a big driver for the rise in ultra-wealthy individuals within the U.S., the report confirmed.
“While [Nvidia CEO] Jensen Huang has grabbed lots of the headlines as Nvidia broke by way of the $2 trillion mark, catapulting him into the Hurun High 30 consequently, the billionaires behind Microsoft, Google, Amazon, Oracle and Meta have seen important surges of their wealth as traders wager on the worth generated by AI,” the report stated.
Bloomberg’s Billionaires index confirmed that Amazon founder Jeff Bezos and Tesla CEO Elon Musk are the highest two billionaires within the U.S. with a web value of $201 billion and $190 billion respectively.
Taylor Swift joined Hurun Analysis’s record with a web value of $1.2 billion after starting her Eras Tour in March, and performing within the U.S., South America, Australia, Singapore and Tokyo up to now.
“Over half her fortune stems from royalties and touring, together with US$190 million from the Eras tour’s first leg and US$35 million from its live performance movie. The remainder is buoyed by her music catalogue’s worth, notably after her first six albums have been bought to Shamrock Capital for US$300 million in 2020,” the report stated.
After the U.S., India had the second largest new additions with 84 new members on its ultra-rich record.
The South Asian nation is now the world’s quickest rising financial system after GDP grew 8.4% within the October-December interval.
In December, India’s inventory market overtook Hong Kong’s to turn out to be the seventh largest on the earth, and is now valued at over $4 trillion, information from Refinitiv confirmed.
India’s Reliance Industries Chairman Mukesh Ambani continues to be the wealthiest particular person in Asia, and eleventh richest on the earth, with a complete web value of $110 billion, in response to Bloomberg’s index.
In January, Gautam Adani, founder and chairman of the Adani Group, overtook Ambani briefly, however is now three spots behind with a web value of $97.9 billion, Bloomberg information confirmed.
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