A report says India has 271 billionaires, Mukesh Ambani is the top billionaire

Up to 94 new Indian faces have joined the list of billionaires worldwide, according to a Hurun India report published on Tuesday. According to the report, the number of billionaires in the nation reached 271 with a total wealth of $1 trillion after a net addition of 84.

Reliance Industries’ chairman and managing director, Mukesh Ambani, is the only person from India to rank among the top 10 billionaires on Hurun Global Rich List 2024, which is calculated using US dollars. Even though Ambani’s wealth increased by 40% to $115 billion, he fell one spot to 10th place globally.

The wealth estimates included in the Hurun Global Rich List represent a snapshot for the year that determined on January 15, 2024. This ranking is in its thirteenth edition.

The next Indian on the world wealthy list, coming in at number 15, is Gautam Adani, the chairman of the Adani group. With a $33 billion surge in wealth after his companies’ shares saw an incredible rebound in 2023, Adani, 61, now has a net worth of $86 billion.

India had a “super strong year” due to a thriving stock market; behind the US (132), the nation added the most new billionaires to the list. Ten of the list’s dropouts were from India.

“The Indian economy’s confidence reached all-time highs. Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said that Mumbai has surpassed Beijing to become the capital of billionaires in Asia and one of the top three cities worldwide.

During the time under review, Mumbai, the capital city with the fastest rate of growth among billionaires worldwide, added 26 billionaires, increasing its total to 92. With 57 billionaires, New Delhi entered the top 10 for the first time. Hurun’s list of the top 30 cities also includes Palm Beach, Mexico City, Istanbul, and Melbourne. London has the second-highest concentration of billionaires (97), after New York with 119.

Mumbai becomes Asia’s billionaire center as a result of India’s extraordinary billionaire surge, surpassing all other countries save the US and surpassing Beijing. However, the potential of India’s startup ecosystem is still being unlocked at a time when electric vehicles, space technology, and artificial intelligence (AI) are all poised for disruption. A clear message for the next ten years is this: It is a danger no visionary can afford to ignore the Indian narrative. Hurun Global Rich List creator and principal researcher Anas Rahman Junaid stated in a statement that the list “signals a pivotal shift in the global power structure; it does more than just track wealth.”

According to the statement, India’s rise to prominence as the world’s third-largest economy is highlighted by the Hurun Global Rich List 2024.

Elon Musk, 52, the CEO of Tesla, led the list of billionaires in the world with a net worth of $231 billion, followed by Jeff Bezos, 60, the founder of Amazon, with a net worth of $185 billion.

Pop superstar Taylor Swift, 34, became the first person to join the billionaire club with a $1.2 billion wealth that she obtained via her music rather than typical celebrity side jobs. With 814 billionaires on the list, China continues to be the global hub for billionaires despite losing 155 billionaires. With 800 billionaires, the United States is not far behind (109 more). Of the world’s recognized billionaires, China and the US make up 49%, with the US accounting for the remaining 4%.