Once considered a nation plagued by poverty, India has undergone a dramatic transformation to become one of the world’s fastest-growing economies. This remarkable shift has been propelled by the rise of a new class of billionaires, whose investments across diverse industries have fueled job creation and contributed to the country’s economic growth.
Top 10 Indian Cities with the Highest Number of Billionaires in 2024
The Hurun Research Institute, known for its comprehensive rich lists, recently released its rankings of the top 10 Indian cities with the largest billionaire populations. Below is the list of these cities, along with their respective billionaire counts.
| Rank | City | Number of Billionaires |
|---|---|---|
| 1 | Mumbai | 92 |
| 2 | New Delhi | 68 |
| 3 | Hyderabad | 18 |
| 4 | Bengaluru | 27 |
| 5 | Chennai | 16 |
| 6 | Kolkata | 12 |
| 7 | Ahmedabad | 14 |
| 8 | Pune | 11 |
| 9 | Surat | 2 |
| 10 | Gurugram | 2 |
Source: Hurun Research Institute
Mumbai: The New Billionaire Hub
Mumbai has emerged as the billionaire capital of India and Asia, surpassing Beijing with 92 billionaires. The city maintains its position as India’s wealthiest, with a significant lead in the number of billionaires compared to other cities. The 2024 Hurun Rich List reaffirms Mumbai’s continued dominance over the past year.
A Comparative Look: 2024 vs. 2023
The table below compares the top cities by billionaire count from the 2024 and 2023 Hurun Rich Lists.
| Rank | City | Rich List Entries 2024 | Rich List Entries 2023 | Number of Billionaires 2024 |
|---|---|---|---|---|
| 1 | Mumbai | 386 | 328 | 92 |
| 2 | New Delhi | 217 | 119 | 68 |
| 3 | Hyderabad | 104 | 100 | 18 |
| 4 | Bengaluru | 100 | 87 | 27 |
| 5 | Chennai | 82 | 67 | 16 |
| 6 | Kolkata | 69 | 55 | 12 |
| 7 | Ahmedabad | 67 | 51 | 14 |
| 8 | Pune | 53 | 39 | 11 |
| 9 | Surat | 28 | 27 | 2 |
| 10 | Gurugram | 23 | 18 | 2 |
Growth Trends in Major Cities
Between 2020 and 2024, Mumbai’s billionaire count saw a substantial increase from 217 to 386, reflecting the city’s growing economic influence. New Delhi and Hyderabad also witnessed significant growth in their billionaire populations, with New Delhi adding 89 billionaires, reaching a total of 217, and Hyderabad increasing its count from 50 to 104 billionaires. These trends highlight India’s ongoing economic dynamism and the increasing concentration of wealth in its leading cities.
