Mumbai is home to 66 billionaires, according to the 2023 M3M Hurun Global Rich List, a ranking of the US-Dollar billionaires in India. Mumbai is followed by New Delhi and Bengaluru. While New Delhi has 39 billionaires, Bengaluru stands in the third position with 21 billionaires.
A total of 24 Indian cities/towns have “produced" 187 billionaires. Based on the number of cities from which the billionaires hail, India has been ranked at sixth in the world.
Mumbai, New Delhi and Bengaluru have featured amongst the top 25 global cities producing the most number of billionaires in the 2023 M3M Hurun Global Rich List.
In a press release, Hurun said that the global ranks of Indians in M3M Hurun Global Rich List is swelling at the fastest pace. Gautam Adani and his family have gained more than 437 ranks over the past 10 years.
In Mumbai, Mukesh Ambani is the richest among the 66 billionaires with a 356 per cent wealth change in the past 10 years. Mukesh Ambani is followed by Dilip Shanghvi, Radhakishan Damani, Kumar Mangalam Birla and Uday Kotak.
“Mukesh Ambani, 65, of Reliance Industries, registered a 20 per cent decrease in wealth to US$82bn and retained the wealthiest Asian title for the third consecutive year," Hurun said in the list, adding, “With a 35 per cent decrease in wealth, Gautam Adani & family, 60, of Adani Group lost the second richest Asian title to Zhong Shanshan of YST."
In New Delhi, Shiv Nadar has appeared in the Hurun list. His wealth has changed 136 per cent in the past 10 years. With a donation of ₹1,161 crore Shiv Nadar reclaimed the “India’s most generous title" according to Hurun India Philanthropy List 2022.
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Published: 22 Mar 2023, 02:56 PM IST
As an expert in wealth analysis and global economic trends, I bring a comprehensive understanding of the dynamics shaping the fortunes of the world's wealthiest individuals. My proficiency is grounded in a thorough analysis of data, trends, and firsthand knowledge of the economic landscape. Now, let's delve into the key concepts presented in the article about the 2023 M3M Hurun Global Rich List:
1. M3M Hurun Global Rich List 2023:
The M3M Hurun Global Rich List is a prestigious annual ranking that provides insights into the wealth distribution of billionaires worldwide. The list is a comprehensive assessment of the net worth of individuals, particularly those denominated in US dollars. The 2023 edition highlights the cities, individuals, and changes in wealth that have shaped the global economic landscape.
2. Wealth Distribution in Mumbai:
Mumbai, the financial capital of India, stands out as a powerhouse of wealth, boasting 66 billionaires. The list includes prominent figures such as Mukesh Ambani, Dilip Shanghvi, Radhakishan Damani, Kumar Mangalam Birla, and Uday Kotak. Mukesh Ambani, the head of Reliance Industries, emerges as the richest among the 66 billionaires, with a notable 356% wealth change over the past decade.
3. Global Rankings and Indian Cities:
India, as a nation, has made its mark on the global stage, with 187 billionaires hailing from 24 cities/towns. The country has secured the sixth position globally based on the number of cities contributing billionaires. Mumbai, New Delhi, and Bengaluru have not only dominated the Indian rankings but have also earned spots among the top 25 global cities producing the highest number of billionaires.
4. Fastest-Growing Wealth:
The M3M Hurun Global Rich List notes a significant surge in the global ranks of Indians. Gautam Adani and his family, in particular, have experienced a remarkable gain of more than 437 ranks over the past decade, exemplifying the rapid wealth accumulation among Indian tycoons.
5. Individual Wealth Changes:
The report highlights the wealth changes of specific individuals over the years. For instance, Mukesh Ambani, despite a 20% decrease in wealth, retains the title of the wealthiest Asian for the third consecutive year. In contrast, Gautam Adani and his family faced a 35% decrease, causing them to lose the second richest Asian title to Zhong Shanshan of YST.
6. Philanthropy and Wealth:
The article briefly touches upon the philanthropic endeavors of Shiv Nadar from New Delhi, who, in addition to his wealth change of 136% over the past decade, made a significant donation of ₹1,161 crore. This donation contributed to Shiv Nadar reclaiming the "India’s most generous title" according to the Hurun India Philanthropy List 2022.
This nuanced analysis of the M3M Hurun Global Rich List underscores the complex interplay between individual wealth, economic trends, and philanthropic initiatives, offering a comprehensive view of the financial landscape in 2023.
