Mumbai surpasses Beijing to become Asia’s billionaire capital for the first time

Guwahati: For the first time Mumbai has surpassed Beijing and has become Asia's billionaire capital for the first time, according to Shanghai-based Hurun Research Institute.

Mumbai has 92 billionaires, which is only after New York (119) and London (97).

Mukesh Ambani with $115 billion in assets leads the pack, followed by Gautam Adani with $86 billion.

"Mumbai was the fastest-growing billionaire capital in the world, adding 26 in the year and taking it to third in the world and Asia's billionaire capital. New Delhi broke into the Top 10 for the first time," the report says.

"India has had a super strong year, adding almost 100 billionaires. Confidence in the economy grew to record levels," Hurun Report chairman and chief researcher Rupert Hoogewerf remarked.

Elon Musk maintained his richest person title for the third time.

Industries that the report attributed India's growth in rank to were Pharmaceuticals (39) and Automobile & Auto Components (27).

India added 94 people to its list of 271 billionaires, the report states, the highest since 2013.