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2024 Hurun Global Rich List: Mukesh Ambani becomes world’s 10th Richest man; Mumbai Becomes Asia’s Billionaire Capital

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Mumbai overtakes Beijing as Asia’s billionaire capitalAccording to the “2024 Hurun Global Rich List”, Mukesh Ambani, Chairman & Managing Director(CMD) of Reliance Industries Limited(RIL), has been ranked as the World’s 10th richest Person with a total net worth of USD 115 billion.

  • Elon Musk, Chief Executive Officer (CEO) of Tesla Motors, topped the list for the 3rd time, with a total net worth of USD 231 billion followed by Jeff Bezos, founder of Amazon (USD 185 billion) and Bernard Arnault, CEO of LVMH Moët Hennessy Louis Vuitton (175 billion).
  • Mumbai(Maharashtra), overtakes Beijing(China) to become the billionaire capital of Asia. 92 billionaires of India are based in Mumbai while Beijing houses 91 billionaires.

2024 Hurun Global Rich List:

i.The 2024 Hurun Global Rich List is the 13th edition of the ranking of billionaires. Wealth calculations in the report are a snapshot of 15th January 2024.

ii.The 2024 list features a total of 3279 billionaires which includes 167 new billionaires. The number of billionaires globally increased by 5% compared to 2023.

Top 5 billionaires on the 2024 List:

RankNameTotal Net Worth (USD billion)
1Elon Musk231
2Jeff Bezos185
3Bernard Arnault175
4Mark Zuckerberg158
5Warren Buffett144

Top 3 countries with the highest number of Billionaires:

RankCountryNumber of Billionaires
2The United States of America(USA)800

Top 5 cities with highest number of billionaires:

RankCitiesNumber of billionaires
1New York (USA)119
2London (the United Kingdom)97

Key Highlights: Indian billionaires:

i.Mukesh Ambani, Asia’s richest man, is the only Indian featured on the top 10 of the list.

  • Gautam Adani, Chairperson of Adani Group, is ranked 15th with a total net worth of USD 86 billion.

ii.The cumulative wealth of Indian billionaires’ amounts to USD 1 trillion, which accounts to 7% of the global billionaire wealth.

iii.India’s addition of 94 new billionaires in a single year consolidates India’s position as the 2nd largest contributor to the world billionaire list.

iv.Industries that contributed India’s growth are, Pharmaceutical sector (39 billionaire) followed by Automobile and Auto components industry (27 billionaire) and Chemical sector (24 billionaire).

Mumbai leads all Indian Cities with 92 billionaires

i.Mumbai has added 27 new billionaires compared to Beijing (6). Overall wealth of billionaires in Mumbai increased by 47%.

ii.For the 1st time ever, New Delhi(India’s National Capital) find itself in the list of top 10 billionaires.

Points to note:

i.Top 10 countries in the Hurun List generated a staggering 60% of all the new wealth generated this year.

ii.Top three countries which have the most number of billionaires are: China (814), USA (800) and India (217).

  • The number of billionaires increased in USA and India by 109 and 84 respectively as compared to 2023, China’s number has decreased by 155.
  • In U.S., Artificial Intelligence(AI) was the major driver for wealth growth.

iii.Wealth controlled by China’s billionaires decreased by 15% as many as 40% from the Hurun List of 2 years ago have lost their places.

iv.American Singer and Songwriter Taylor Swift debuted on the list with a net worth of USD 1.2 billion.

About Hurun Report Inc. (Hurun Report):
It is a leading research, luxury publishing and events group established in 1998 in London (U.K.). Hurun India was launched in 2012.
MD & Chief Researcher– Anas Rahman Junaid
Headquarters (Hurun India)– Mumbai, Maharashtra