By Anurag Kumar
Mumbai has once again emerged as India’s billionaire capital, as it stood at the sixth spot globally, as per Forbes’ 2025 World’s Billionaires List. New York topped the list with the maximum number of billionaires at 123, worth $759 billion. Compared to New York, Mumbai has 67 billionaires worth $349 billion. India’s neighbour, China, featured at the fifth spot, occupied by Beijing with 68 billionaires worth $273 billion. New York has occupied the slot for over 12 years, except for 2021 when Beijing overtook it for a short period of time. Other countries to follow New York are: Moscow – 90 billionaires ($409 billion), Hong Kong – 72 billionaires ($309 billion), London – 71 billionaires ($355 billion). Mumbai Still India’s Billionaire Capital, But Slips in Global RankingsMumbai continues to hold the title of India’s billionaire capital, outpacing other major metros like Delhi and Bengaluru in terms of ultra-wealthy residents. However, on the global stage, the city has slipped from fourth to sixth place this year, following the exit of two billionaires and being overtaken by London and Beijing. Mukesh Ambani, chairman of Reliance Industries, remains not only Mumbai’s but also Asia’s richest individual, with a net worth of $92.5 billion. In 2025, Mumbai added six new billionaires, including four members of the Doshi family — Viren, Kirit, Pankaj, and Hitesh Doshi — following the IPO of their solar energy firm, Waaree Industries, in October last year. The city’s robust financial ecosystem, home to the Bombay Stock Exchange, National Stock Exchange, and headquarters of numerous corporate giants, continues to attract and nurture wealth. Long-established business families like the Ambanis, Birlas, Godrejs, and Piramals have deep roots in the city, while a new wave of billionaires is emerging from sectors such as tech, renewable energy, and manufacturing.