By Avni Arya
Mumbai: The glittering skyline of New York City isn’t just a symbol of ambition, it’s also home to the world’s highest concentration of billionaires. According to Forbes’ 2025 World’s Billionaires List, New York has reclaimed its top spot with 123 billionaires boasting a combined wealth of $759 billion, outshining all other cities for yet another year. The financial capital of the United States has held this title for most of the past 12 years, losing out only once to Beijing in 2021. The majority of its ultra-rich population are deeply rooted in industries like finance, real estate, and retail, reinforcing the city’s status as a global powerhouse of wealth. Mumbai: India’s Billionaire Capital Closer home, Mumbai has once again emerged as India’s billionaire capital, ranking sixth globally with 67 billionaires worth $349 billion. The city continues to outshine other Indian metros like Delhi and Bengaluru in billionaire count and wealth accumulation. However, Mumbai has dropped from fourth to sixth place this year, overtaken by London and Beijing due to the exit of two billionaires. Despite this, the city remains a major magnet for India’s ultra-rich, with six new billionaires added in 2025 alone. Among the newcomers are four members of the Doshi family, Viren, Kirit, Pankaj, and Hitesh Doshi, who made headlines after their company Waaree Industries, a solar energy firm, went public in October last year. Ambani Still on TopAt the helm of Mumbai’s billionaire club remains Mukesh Ambani, chairman of Reliance Industries, with a personal fortune of $92.5 billion. While his net worth has dipped by more than $20 billion over the past year, Ambani remains India’s and Asia’s richest individual. His continued presence reinforces Mumbai’s position as a hub for legacy wealth and new-age entrepreneurship alike, especially in energy, telecom, and retail. A Global Snapshot: Cities of BillionairesWhile nearly a quarter of the world’s 3,028 billionaires are concentrated in just 10 cities across six countries, their distribution reflects broader economic trends and urban prosperity. Here’s a look at the top 10 billionaire cities in 2025: New York City – 123 billionaires ($759 billion) Moscow – 90 billionaires ($409 billion) Hong Kong – 72 billionaires ($309 billion) London – 71 billionaires ($355 billion) Beijing – 68 billionaires ($273 billion) Mumbai – 67 billionaires ($349 billion) Singapore – 60 billionaires ($259 billion) San Francisco – 58 billionaires ($217 billion) Shanghai – 58 billionaires ($198 billion) Los Angeles – 56 billionaires ($243 billion) Notably, Moscow added the highest number of new billionaires this year, while Singapore climbed from ninth to seventh, thanks to eight new additions. ByteDance co-founder Zhang Yiming, now based in Singapore, is the richest person in the city with a net worth of $65.5 billion. Why Mumbai Continues to Attract the Ultra-WealthyMumbai’s appeal among the ultra-rich lies in its robust financial ecosystem, with institutions like the Bombay Stock Exchange, National Stock Exchange, and the headquarters of India’s largest conglomerates. The city has long been home to influential business families, the Ambanis, Birlas, Godrejs, Piramals, and now, it’s increasingly welcoming new billionaires from tech, energy, and manufacturing sectors. The mix of legacy wealth, market access, and global connectivity continues to position Mumbai as the undisputed billionaire capital of India.