New York Leads Billionaire Cities; Mumbai Ranks 6th
Mumbai, India’s billionaire capital, ranks sixth globally with 67 billionaires. The city added six new billionaires in 2025, led by the Doshi family in solar energy. New York City tops the list with 123 billionaires, followed by Moscow and Hong Kong.
BillionairesNew YorkMumbaiReal EstateFinanceReal Estate MumbaiJul 01, 2025
New York City has topped the list of cities with the highest number of billionaires, according to Forbes’ 2025 World’s Billionaires List. The city is home to 123 billionaires with a combined wealth of $759 billion. New York has ranked first for most of the past 12 years, except in 2021 when Beijing briefly took the lead. Most of its ultra-rich residents are involved in finance, real estate, and retail.
Moscow gained the most new billionaires this year, rising to 90 individuals worth $409 billion. Hong Kong and London also continue to be home to several wealthy businesspeople. Beijing remains steady at fifth position with 68 billionaires.
MUMBAI – INDIA’S BILLIONAIRE CAPITAL
While India is not among the top countries with the highest number of billionaires overall, Mumbai continues to lead within the country. The city ranks sixth globally with 67 billionaires worth $349 billion. It remains the Indian city with the most number of ultra-wealthy individuals, ahead of other major metros like Delhi and Bengaluru.
However, Mumbai’s position has dropped from fourth to sixth this year. This is due to the exit of two billionaires and being overtaken by London and Beijing. Mukesh Ambani, chairman of Reliance Industries, continues to be Mumbai’s and Asia’s richest person with a net worth of $92.5 billion. Despite a fall of over $20 billion in the past year, he remains the wealthiest person in the city.
Mumbai also added six new billionaires in 2025. Four of them belong to the Doshi family: Viren, Kirit, Pankaj, and Hitesh Doshi, whose company Waaree Industries, a solar energy firm, went public in October last year.
A LOOK AT THE OTHER GLOBAL CITIES
Moscow gained the most new billionaires this year, rising to 90 individuals worth $409 billion. Hong Kong and London also continue to be home to several wealthy businesspeople. Beijing remains steady at fifth position with 68 billionaires.
Singapore jumped to seventh position from ninth last year, with eight new billionaires. Zhang Yiming, co-founder of ByteDance (which owns TikTok), is the richest person in Singapore with $65.5 billion. Other cities in the list like San Francisco, Shanghai, and Los Angeles also added new billionaires this year, mainly from the tech and entertainment industries.
Here are the top 10 cities in the world with the most billionaires in 2025:
New York City – 123 billionaires ($759 billion)
Moscow – 90 billionaires ($409 billion)
Hong Kong – 72 billionaires ($309 billion)
London – 71 billionaires ($355 billion)
Beijing – 68 billionaires ($273 billion)
Mumbai – 67 billionaires ($349 billion)
Singapore – 60 billionaires ($259 billion)
San Francisco – 58 billionaires ($217 billion)
Shanghai – 58 billionaires ($198 billion)
Los Angeles – 56 billionaires ($243 billion)
WHAT MAKES MUMBAI ATTRACTIVE FOR THE WEALTHY
Mumbai’s strong financial infrastructure, availability of capital, and presence of large family-owned businesses continue to make it the preferred city for the wealthy in India. It is home to the Bombay Stock Exchange, National Stock Exchange, and the headquarters of many of India’s top companies. Business families like the Ambanis, Birlas, Godrejs, and Piramals have operated out of Mumbai for decades. The city is also seeing the rise of new billionaires from tech, energy, and manufacturing sectors.
Frequently Asked Questions
Which city has the most billionaires in the world?
New York City has the most billionaires in the world, with 123 billionaires and a combined wealth of $759 billion.
How many billionaires does Mumbai have?
Mumbai has 67 billionaires with a combined wealth of $349 billion, ranking it sixth globally.
Who is the richest person in Mumbai?
Mukesh Ambani, chairman of Reliance Industries, is the richest person in Mumbai with a net worth of $92.5 billion.
Which city gained the most new billionaires this year?
Moscow gained the most new billionaires this year, rising to 90 individuals worth $409 billion.
What makes Mumbai attractive for the wealthy?
Mumbai’s strong financial infrastructure, availability of capital, and presence of large family-owned businesses make it attractive for the wealthy. It is home to the Bombay Stock Exchange, National Stock Exchange, and the headquarters of many top Indian companies.
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