Mumbai has once again become the billionaire capital of India. The city now has 67 billionaires with a combined wealth of USD 349 billion. This places it ahead of other Indian cities like Delhi and Bengaluru in both number of billionaires and total wealth.
Globally, Mumbai’s position has slipped. It ranked fourth last year but has dropped to sixth in 2025. The fall came after the departure of two billionaires from the city. Mumbai is now behind cities like Beijing and London.
Despite the drop, Mumbai continues to attract the ultra-rich. In 2025 alone, six new billionaires were added to the city. Among them are four members of the Doshi family: Viren, Kirit, Pankaj, and Hitesh Doshi. Their solar energy company, Waaree Industries, went public in October last year.
Mukesh Ambani remains the richest person in Mumbai. He has a personal fortune of USD 92.5 billion. Although his wealth dropped by about USD 20 billion over the past year, he is still the wealthiest individual in both Asia and India. As chairman of Reliance Industries, Ambani’s presence continues to define Mumbai’s billionaire landscape. His wealth comes from sectors like energy, retail, and telecom.
On the global stage, New York City tops the list with 123 billionaires worth USD 759 billion. It is followed by Moscow with 90 billionaires and Hong Kong with 72. London has 71, while Beijing has 68. Mumbai is close behind with 67 billionaires.
As per sources, Mumbai remains attractive to the ultra-wealthy for several reasons. It is home to major financial institutions like the Bombay Stock Exchange and the National Stock Exchange. The headquarters of India’s biggest corporations are also based here. The city has long been home to influential families like the Ambanis, Birlas, Godrejs, and Piramals. Now, more billionaires are coming from industries like energy, technology, and manufacturing.
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