Shanghai has overtaken Mumbai as Asia’s billionaire capital for the first time, according to the Hurun Global Rich List 2025. India ranked third globally with 284 billionaires, while the US and China took the top two spots. Mukesh Ambani remains India’s richest person, though his wealth declined, while Gautam Adani saw a significant increase.
Shanghai has officially overtaken Mumbai as Asia’s billionaire capital for the first time, according to the latest Hurun Global Rich List 2025. The Chinese city now houses 92 billionaires, surpassing Mumbai’s count of 90. Meanwhile, India continues to rise in global wealth rankings, securing the third position with 284 billionaires.
The Hurun Global Rich List 2025 provides a comprehensive ranking of the world’s wealthiest individuals. For the first time in a decade, the United States topped the list with 870 billionaires, followed by China with 823. India saw a modest increase in its billionaire count, reaching 284, with a cumulative wealth of ₹98 lakh crore. Among them, 175 individuals witnessed a rise in their net worth, while 109 either experienced a decline or saw no change.
Mukesh Ambani Remains India’s Richest, Adani Gains Ground
Reliance Industries chairman Mukesh Ambani continues to be the richest Indian, though his net worth dropped by ₹1 lakh crore from last year, bringing it down to ₹8.6 lakh crore. The decline is attributed to rising debt levels within his conglomerate. Consequently, Ambani has slipped out of the global top 10 richest list.
On the other hand, Gautam Adani, chairman of the Adani Group, saw a notable 13% increase in wealth, taking his net worth to ₹8.4 lakh crore. This marks a significant recovery for Adani, who faced financial setbacks in previous years.
India’s Rising Billionaire Count
The report also highlighted India’s growing billionaire presence, with an average wealth increase of ₹34,514 crore per individual. The country now boasts seven billionaires under the age of 40, primarily based in Bengaluru and Mumbai, underscoring India’s growing influence in global wealth creation.
With Shanghai surpassing Mumbai and the competition for the billionaire capital of Asia intensifying, India remains a strong player in the global wealth landscape. The Hurun Global Rich List 2025 serves as a testament to India’s economic growth and the shifting dynamics of global wealth distribution.
Also Read : Mukesh Ambani vs. Gautam Adani: Who Tops India's Rich List 2025?
