Jobaaj Stories
In a surprising shift, Shanghai has overtaken Mumbai as Asia’s billionaire capital, according to data released by Hurun Global. Shanghai now has 92 billionaires, while Mumbai has 90, marking a slight decline in the city’s billionaire count.
India’s Changing Billionaire Rankings
Despite this change, India continues to produce and sustain billionaires, with Mukesh Ambani remaining the richest person in India, though his wealth saw a 13% drop. Meanwhile, Gautam Adani is closing the gap, witnessing a 13% rise in his fortune.
Top 10 Indian Billionaires in 2024
| Rank | Name & Family | Wealth (INR Lakh Cr) | Change % YoY | Company | Age | City of Residence |
| 1 | Mukesh Ambani & Family | 8.6 | -13% | Reliance Industries | 67 | Mumbai |
| 2 | Gautam Adani & Family | 8.4 | 13% | Adani Group | 62 | Ahmedabad |
| 3 | Roshni Nadar & Family | 3.5 | New | HCL Technologies | 43 | New Delhi |
| 4 | Dilip Shanghvi & Family | 2.5 | 21% | Sun Pharmaceutical Industries | 69 | Mumbai |
| 5 | Azim Premji & Family | 2.2 | Revalued | Wipro | 79 | Bengaluru |
| 6 | Kumar Mangalam Birla & Family | 2 | 28% | Aditya Birla Group | 57 | Mumbai |
| 6 | Cyrus Poonawalla & Family | 2 | -8% | Serum Institute of India | 83 | Pune |
| 8 | Niraj Bajaj & Family | 1.6 | 12% | Bajaj Auto | 70 | Mumbai |
| 9 | Ravi Jaipuria & Family | 1.4 | 7% | RJ Corp | 70 | New Delhi |
| 10 | Radhakishan Damani & Family | 1.4 | -11% | Avenue Supermarts | 69 | Mumbai |
Key Takeaways from the Billionaire Rankings
-
Mukesh Ambani remains India’s richest, despite a decline of 13% in his wealth.
-
Gautam Adani’s wealth grew by 13%, driven by his expansion in renewable energy and infrastructure.
-
Roshni Nadar, chairperson of HCL Technologies, is now India’s richest woman, with ₹3.5 lakh crore.
-
Dilip Shanghvi of Sun Pharma saw 21% growth, taking his net worth to ₹2.5 lakh crore.
-
Kumar Mangalam Birla witnessed the highest jump (+28%) among the top billionaires.
Why Did Mumbai Lose the Top Spot?
Mumbai’s billionaire count dropped by two, primarily due to market fluctuations and economic trends impacting top business leaders. Meanwhile, Shanghai’s economy remained strong, allowing it to surpass Mumbai in the billionaire rankings.
Future Outlook
Although Mumbai has lost its title for now, experts believe India’s growing economy and business expansions could help the city reclaim its position in the future. As industries like technology, renewable energy, and pharmaceuticals continue to thrive, India’s billionaire count is expected to grow.
Stay tuned for more updates on India’s richest individuals and global billionaire rankings.
