Shanghai Overtakes Mumbai as Asia's Billionaire Capital in 2025
Shanghai has surpassed Mumbai to become the city with the largest number of billionaires in Asia, according to the Hurun Global Rich List 2025. This marks a significant shift in the region's economic landscape.
BillionairesShanghaiMumbaiWealthAsiaReal Estate MumbaiOct 03, 2025
In 2025, Shanghai surpassed Mumbai to become the billionaire capital of Asia, with 92 billionaires compared to Mumbai's 90. This is the first time that Mumbai has lost its status as the region's top city for billionaires.
Interestingly, Indian billionaires have a higher average net worth than their Chinese counterparts, with an average of Rs 34,514 crore compared to China's Rs 29,027 crore. Therefore, while China has more billionaires, India's ultra-rich hold larger fortunes individually.
According to Forbes, the combined wealth of China’s 10 richest has grown to $400.5 billion (approximately Rs 35 lakh crore) from $304 billion (approximately Rs 26 lakh crore) last year. ByteDance founder Zhang Yiming is now China’s richest, overtaking Nongfu Spring’s Zhong Shanshan, who slipped to second place with $57.5 billion (Rs 5 lakh crore), down from $62.3 billion in 2024.
India’s billionaires are collectively worth nearly Rs 98 lakh crore, which accounts for about one-third of the country’s GDP. Mukesh Ambani leads the list with Rs 8.6 lakh crore. His wealth dropped by around Rs 1 lakh crore since last year, but he still stays ahead of Gautam Adani, whose fortune grew 13 per cent to Rs 8.3 lakh crore. Roshni Nadar, the Chairperson of HCL Technologies, is India’s richest woman, with a wealth of Rs 2.84 lakh crore.
Elon Musk tops the global rich list with a fortune of $420 billion (Rs 37 lakh crore), followed by Jeff Bezos at $266 billion (Rs 23 lakh crore) and Mark Zuckerberg at $242 billion (Rs 21 lakh crore).
On the city front, New York remains the world’s billionaire hub with 129 billionaires, while London comes next with 97 and Shanghai with 93. Mumbai holds the fifth spot worldwide.
Mumbai continues to remain India’s billionaire capital with 90. The richest in the city is Reliance Industries’ Mukesh Ambani and family. Delhi comes next with 70 billionaires, where Roshni Nadar Malhotra and family take the top spot. Bengaluru, India’s Silicon Valley, ranks third with 31 billionaires, headed by Azim Premji and family.
Meanwhile, Shah Rukh Khan is now officially a billionaire, reports Hurun. In 2025, the actor has a net worth of $1.4 billion (approximately Rs 12,490 crore).
Frequently Asked Questions
Which city has the most billionaires in the world?
New York remains the world’s billionaire hub with 129 billionaires.
How many billionaires are there in India as of 2025?
India has 284 billionaires as of 2025, an increase of 13 from the previous year.
Who is the richest person in China according to the Hurun Global Rich List 2025?
ByteDance founder Zhang Yiming is now China’s richest person, with a net worth of $420 billion.
Who is the richest person in India according to the Hurun Global Rich List 2025?
Mukesh Ambani leads the list of Indian billionaires with a net worth of Rs 8.6 lakh crore.
How many billionaires are in Shanghai, and what is its rank globally?
Shanghai has 93 billionaires and holds the third spot globally, after New York and London.
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