Hurun Rich List 2025: Mumbai emerges as India’s billionaire capital

Mumbai has overwhelmingly reaffirmed its position as the undisputed financial capital of India, leading the M3M Hurun India Rich List 2025. The city is home to a staggering 451 of the country's wealthiest individuals, a dramatic surge from 255 in 2021. This concentration of affluence underscores the city's magnetic pull for industrialists and entrepreneurs.

The financial hub not only boasts the highest number of rich list entrants but also hosts India's richest individual, Mukesh Ambani, and his family. The city's elite circle now includes 91 billionaires, solidifying its reputation as the heart of India's corporate and financial wealth.

Following closely, New Delhi ranks second with 223 entries, a significant jump from 167 in 2021, and is home to 70 billionaires, including Roshni Nadar Malhotra and family. Bengaluru dubbed as India’s Silicon Valley, takes third place with 116 residents, including tech giants like Azim Premji. Hyderabad is also emerging as a business powerhouse, with 102 wealthy residents.

Cities like Chennai, Ahmedabad, and Pune are showing remarkable growth, with Pune now hosting 12 billionaires, a stark rise from just a few in 2021. The data reflects a shift toward India’s growing business hubs, though Mumbai remains the dominant force in wealth concentration.