Mumbai is Home to Billionaires
Around 66 billionaires live here in Mumbai
MUMBAI: With 187 billionaires and 16 newcomers in the country, India remains the world's third largest billionaire producer, according to the 2023 Hurun Global Rich List. The special thing is that Mumbai is the only city in the country, where almost one-third of the country's billionaires live in Mumbai.
Mumbai (Bombay) is called the home of billionaires, where the number of rich people is three times more than the number of billionaires living in Bangalore or Delhi. Around 66 billionaires live here in Mumbai, which is almost one third of the total number of billionaires in the country. 39 billionaires of the country live here. 21 billionaires live in Bangalore city. Currently, there are 187 billionaires in the country, out of which 126 billionaires live in these three cities. The remaining 61 billionaires live in other states and cities of the country.
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According to Hurun Global Rich List, Mukesh Ambani of Reliance Industries has lost 20 percent i.e. 82 billion dollars worth of assets. However, despite this, he remains the richest Asian for the third year in a row. Apart from this, Gautam Adani & Family's assets fell by 35 percent and they had to lose their second position. Adani suffered this setback due to the Hindenburg report on his group. India ranks sixth in terms of the number of billionaires who made $1 billion or more last year.
Significantly, the Hurun Global Rich List for 2023 ranked a total of 3,112 billionaires from 69 countries and 2,356 companies, which is a drop from last year’s 3,384 billionaires. The number of billionaires dropped by 8 percent, and their total wealth dropped by 10 percent compared to last year.
Out of the total number of billionaires, 1,078 individuals witnessed a hike in their wealth, including 176 new personalities. However, 2,479 billionaires noticed their wealth remain the same or slips, and 445 of them dropped off the list altogether.
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As an enthusiast with a deep understanding of the topic, I'd like to share some insights and information related to the concepts used in the article about Mumbai being home to billionaires and the 2023 Hurun Global Rich List:
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Mumbai's Status as the Home of Billionaires: Mumbai, often referred to as Bombay, is indeed a hub for billionaires in India. The city has a unique distinction of housing a significant portion of India's billionaire population. In the article, it's mentioned that approximately one-third of the country's billionaires live in Mumbai. This is a remarkable statistic that highlights the city's prominence in India's economic landscape.
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India's Billionaire Count: According to the 2023 Hurun Global Rich List, India is the world's third-largest producer of billionaires. This ranking indicates that India has a substantial number of billionaires contributing to the global wealth landscape. In the article, it's stated that there are 187 billionaires in India, which further solidifies the country's position as a billionaire hotspot.
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Comparison with Other Indian Cities: The article provides a comparison between Mumbai and other major Indian cities in terms of billionaire population. Bangalore and Delhi are mentioned as two other cities with notable billionaire residents. Mumbai stands out with around 66 billionaires, which is significantly higher than the 21 billionaires in Bangalore and the 39 billionaires in Delhi. This comparison underscores Mumbai's dominance in attracting the wealthy elite.
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Mukesh Ambani's Wealth Decline: The article highlights a notable individual, Mukesh Ambani, the chairman of Reliance Industries, and mentions that he experienced a 20 percent decline in his assets, amounting to a loss of $82 billion. Despite this decline, he retains his position as the richest Asian for the third consecutive year. This illustrates the volatility and fluctuations in the wealth of billionaires, even those at the top of the list.
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Gautam Adani & Family's Wealth Decline: Another prominent figure mentioned in the article is Gautam Adani, whose family saw a 35 percent reduction in their assets. This decline in wealth is attributed to a Hindenburg report on his group. Such incidents reflect how external factors and market dynamics can impact the wealth of billionaires.
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Global Wealth Trends: The article provides insights into the global wealth landscape by mentioning that the total number of billionaires and their combined wealth has decreased compared to the previous year. The number of billionaires dropped by 8 percent, and their total wealth decreased by 10 percent. This information suggests a broader trend of economic fluctuations and challenges affecting the world's wealthiest individuals.
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Newcomers and Drop-offs: The article also touches upon the fact that there are 16 newcomers among India's billionaires. This indicates that while some individuals face declines in their wealth, others are entering the billionaire club. It's also mentioned that 445 individuals dropped off the billionaire list, which highlights the dynamic nature of billionaire rankings and the potential for individuals to gain or lose billionaire status.
In conclusion, the article provides valuable insights into the distribution of billionaires in India, the challenges faced by some of the wealthiest individuals, and the global trends in billionaire wealth. Mumbai's status as a billionaire hub in India is a prominent theme in the article, and it underlines the city's significance in the world of wealth and business.
