Hurun List 2025: Mumbai no longer Asia's 'billionaire capital' as THIS city takes over, know details

Key Highlights:

• Shanghai surpasses Mumbai as Asia’s billionaire capital with 92 billionaires

• Gautam Adani becomes India’s "biggest wealth gainer", adding ₹1 lakh crore

• Mukesh Ambani remains Asia’s richest despite exiting global Top 10

• Roshni Nadar becomes first Indian woman in World’s Top 10 Richest Women list

• India ranks third globally with 284 billionaires, wealth up by 10%

Mumbai, long regarded as 'Asia’s billionaire capital', has been dethroned by Shanghai for the first time, according to the Hurun Global Rich List 2025. With 90 billionaires, India’s 'financial capital' now trails its Chinese counterpart, which has pulled ahead with 92, marking a symbolic shift in the region's wealth distribution.

India, ranked third globally, is now home to 284 billionaires with a combined fortune of ₹98 lakh crore, reflecting a slight increase in its billionaire club over the past year. Interestingly, 175 Indian billionaires saw their fortunes grow, while 109 experienced either a dip or no change. Despite this, the nation’s cumulative billionaire wealth surged by 10%, with the average fortune per billionaire rising to ₹34,514 crore.

Mumbai-based Reliance Industries Chairman Mukesh Ambani has reclaimed the crown of ‘Richest Person in Asia’, despite dropping out of the global Top 10. His net worth now stands at ₹8.6 lakh crore, a decline of ₹1 lakh crore from last year due to rising market corrections.

Meanwhile, Ahmedabad-based Gautam Adani has emerged as "India’s biggest wealth gainer," adding ₹1 lakh crore to his fortune over the past year.. His wealth grew by 13%, taking his net worth to ₹8.4 lakh crore. Though still trailing Ambani, Adani’s surge signals his growing dominance in India’s corporate sector.

Roshni Nadar, Chairperson of HCL Technologies, has become the first Indian woman to break into the world’s top 10 richest women, according to the Hurun Global Rich List 2025. With a net worth of ₹3.5 lakh crore (US$40 billion), she now ranks fifth among the world's wealthiest women.

Based in Delhi, her family’s fortune, valued at ₹3.5 lakh crore, also cements her position as India’s richest woman. Under her leadership, HCL Technologies has witnessed remarkable growth, solidifying its place as a powerhouse in the country’s IT sector.

As per the Hurun list, India is also registering a rise in young billionaires, with seven individuals under 40 hailing from Bengaluru and Mumbai. Among them are 34-year-old Shashank Kumar and Harshil Mathur of Razorpay, showcasing the growing influence of tech entrepreneurs and young business leaders in the country’s wealth landscape.

The latest stats also reveal that the country added 13 new billionaires over the past year, with their combined wealth standing at a staggering ₹98 trillion. This is equivalent to nearly one-third of India’s GDP and surpasses Saudi Arabia’s entire GDP.

1. Mukesh Ambani & Family

Wealth: ₹8.6 lakh crore (-13% YoY)

Company: Reliance Industries

City: Mumbai

2. Gautam Adani & Family

Wealth: ₹8.4 lakh crore (+13% YoY)

Company: Adani Group

City: Ahmedabad

3. Roshni Nadar & Family

Wealth: ₹3.5 lakh crore (New entrant)

Company: HCL Technologies

City: New Delhi

4. Dilip Shanghvi & Family

Wealth: ₹2.5 lakh crore (+21% YoY)

Company: Sun Pharmaceutical Industries

City: Mumbai

5. Azim Premji & Family

Wealth: ₹2.2 lakh crore (Revalued)

Company: Wipro

City: Bengaluru

6. Kumar Mangalam Birla & Family

Wealth: ₹2.0 lakh crore (+28% YoY)

Company: Aditya Birla Group

City: Mumbai

7. Cyrus S Poonawalla & Family (Tied with Birla)

Wealth: ₹2.0 lakh crore (-8% YoY)

Company: Serum Institute of India

City: Pune

8. Niraj Bajaj & Family

Wealth: ₹1.6 lakh crore (+12% YoY)

Company: Bajaj Auto

City: Mumbai

9. Ravi Jaipuria & Family

Wealth: ₹1.4 lakh crore (+7% YoY)

Company: RJ Corp

City: New Delhi

10. Radhakishan Damani & Family

Wealth: ₹1.4 lakh crore (-11% YoY)

Company: Avenue Supermarts (DMart)

City: Mumbai

Silicon Valley billionaires dominate the global Top 10, with French luxury tycoon Bernard Arnault of LVMH being the only non-American on the list. Despite sales challenges and Tesla’s declining share price, Elon Musk retains the top spot with a fortune of $420 billion. Here’s the full list:

1. Elon Musk

Wealth: $420 billion

Company: Tesla

2. Jeff Bezos

Wealth: $266 billion

Company: Amazon

3. Mark Zuckerberg

Wealth: $242 billion

Company: Meta

4. Larry Ellison

Wealth: $203 billion

Company: Oracle

5. Warren Buffett

Wealth: $167 billion

Company: Berkshire Hathaway

6. Larry Page

Wealth: $164 billion

Company: Alphabet

7. Bernard Arnault

Wealth: $157 billion

Company: LVMH

8. Steve Ballmer

Wealth: $156 billion

Company: Microsoft

9. Sergey Brin

Wealth: $148 billion

Company: Alphabet

10. Bill Gates

Wealth: $143 billion

Company: Microsoft