The city of Mumbai has officially surpassed Shanghai as Asia’s capital city with the most billionaires, according to a new Hurun Global Rich List 2024 report. Mumbai, India’s financial powerhouse, now has 92 billionaires, closely edging out Beijing’s 91 and Shanghai with 87. This year's list marked Mumbai's first time in the world’s top three, according to the report. Globally, the Big Apple still leads the way. New York City has the most billionaires with 119. London was second with 97. Beijing, which was ranked first last year, dropped to fourth place. China has the most billionaires out of any country with 814, although it lost 155 of them. The U.S. was second with 800
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