Mumbai loses Asia’s Billionaires Capital status to Shanghai

According to the Hurun Global Rich List 2025, the Chinese city of Shanghai has dethroned Mumbai to emerge as the billionaire’s capital of Asia. Roshini Nadar of HCL Technologies has become the first Indian to be included among the top 10 wealthiest women in the world.

India has retained its status as the country having the third-highest number of billionaires in the world after the United States of America and China.

Mukesh Ambani remains the richest man in Asia despite dropping out of the world’s top 10 richest people.

The total number of billionaires in the world was 3442, an increase of 163.

The 15th edition of the Hurun Global Rich List 2025 was released by the Shanghai-based Hurun Research Institute on 27 March 2025. The report ranks the world’s billionaires based on their wealth as of 15th January 2025, based on US dollars.

USA ends China's status as the billionaire country in the World 

For the first time in the last 10 years, the United States of America (USA) has overtaken China in having the largest number of billionaires in the world.

The USA has 870 billionaires, followed by China with 823.

India has the third-largest number of billionaires in the world, with 284, an increase of 13 as compared to last year.

The combined wealth of Indian billionaires of Rs 98 trillion is about one-third of India’s gross domestic product (GDP). The combined wealth of the Indian billionaires is more than the GDP of Saudi Arabia.

Mumbai slips to third position 

• Mumbai, which emerged as Asia’s billionaire capital last year by dethroning China's capital city, Beijing, slipped to third position this year.
• Shanghai, with 92 billionaires, has emerged as Asia’s billionaire capital, followed by Beijing( 91) and Mumbai, with 90 billionaires.
• Mumbai added 11 billionaires to its list this year.

Billionaire Capital of the World 

• New York City, USA, has emerged as the billionaires' capital of the world, with 129 billionaires living in the city.
• London, United Kingdom, retained its second spot with 97 billionaires,
• Shanghai was in third position with 92 billionaires,
• Beijing at fourth with 91 billionaires and  
• Mumbai was in fifth place with 90 billionaires.
• New Delhi was ranked 9th in the world with 63 billionaires, Bengaluru at 261st rank with 25 billionaires

Mukesh Ambani remains Asia’s and India’s richest person

The chairman cum managing director (CMD) of Reliance Industries Limited (RIL) Mukesh Ambani retained his status as the richest person in Asia and India. 

However, Mukesh Ambani, whose wealth saw a drop of Rs one trillion, was not included in the world’s top 10 richest persons in the world.

The richest Indian with their wealth 

1. Mukesh Ambani, Reliance Industries Limited  – Rs 8.6 trillion  
2. Gautam Adani, Adani Group – Rs 8.4 trillion  
3. Roshni Nadar, HCL Technologies – Rs 3.5 trillion  
4. Dilip Shanghvi, Sun Pharma – Rs 2.5 trillion  
5. Azim Premji, Wipro – Rs 2.2 trillion  
6. Kumar Mangalam Birla, Aditya Birla Group – Rs 2 trillion  
7. Cyrus Poonawalla, Serum Institute – Rs 2 trillion  
8. Niraj Bajaj, Bajaj Auto – Rs 1.6 trillion  
9. Ravi Jaipuria, RJ Corp – Rs 1.4 trillion  
10. Radhakishan Damani, Avenue Supermarts – Rs 1.4 trillion  

Out of the ten, five live in Mumbai, two in New Delhi, while one each lives in Bengaluru, Pune, and Ahmedabad..

 Roshini Nadar 5th richest woman in the world

Chairperson of HCL Technologies, Roshini Nadar, became the first Indian woman to be included in the top 10 richest women’s list. 

She is also the richest woman and the third richest person in India.

The main reason for her wealth is due to the transfer of her father Shiv Nadar’s 47% stake in HCL Technologies to her.

American Alice Walton, owner of Walmart, was the richest woman in the world.  

Top ten richest people in the world 

The following are the top 10 wealthiest people in the world.

1. Elon Musk (USA), owner of Tesla, SpaceX- $ 420 billion. The first person to have a wealth of more than $ 400 billion.
2. Jeff Bezos (USA), owner of Amazon - $ 266 billion
3. Mark Zuckerberg (USA), owner of Meta (Facebook)- $242 billion
4. Larry Ellison (USA), owner of Oracle - $59 billion 
5. Warren Buffett (USA), Berkshire Hathaway- $167 billion
6. Larry Page (USA), owner of Alphabet(Google)- $164 billion
7. Bernard Arnault (France), owner of LVMH- $ 157 billion
8. Steve Ballmer (USA), Microsoft- $156 billion
9. Sergey Brin (USA), owner of Alphabet(Google)- $ 148 billion
10. Bill Gates (USA), Microsoft- $ 143 billion

Hurun is a research, investments, and media group based in Shanghai, China.It was founded by Rupert Hoogewerf in 1999 in the United Kingdom.