With a total massive wealth of $950 billion, India’s financial capital and film industry hub Mumbai has surpassed Toronto, Paris and Frankfurt to gain 12th position in New World Wealth’s list of top 15 wealthiest cities globally.
Mumbai, the financial capital of India is home to 28 Indian billionaires and uncountable millionaires – featuring itself among the top 10 cities across the world for billionaire population. As per the latest New World Wealth list, Mumbai boasts a total of $950 billion and has gained itself the 12th position in world’s top 15 wealthiest cities. With incredible economic growth in a year, Mumbai has already overlooked Toronto (13th, $944 billion), Frankfurt (14th, USD 912 billion) and Paris (15th, USD 860 billion). And with this pace, Mumbai will soon join the club of fastest growing cities which includes San Francisco, Beijing, Shanghai, Mumbai and Sydney.
Apart from being home to 28 billionaires, Mumbai is also home to the Bombay Stock Exchange which is the 12th largest stock exchange in the world. And also, the film industry capital of India with the glam and money drawing towards itself. Other major industries in the city include financial services, real estate and media. And the humongous $950 billion figure includes the total of private wealth held by all living in the city; assets like property, cash, equities, business interests are all counted in.
Meanwhile, the New World Wealth list was topped by New York – the home to world’s two largest stock exchanges, and a ground breaking total wealth of $3 trillion. Followed by London ($2.7 trillion) on second and Tokyo ($2.5 trillion) on third positions. The list also features San Francisco Bay area ($2.3 trillion), Beijing ($2.2 trillion), Shanghai ($2 trillion), Los Angeles ($1.4 trillion), Hong Kong ($1.3 trillion), Sydney ($1 trillion), Singapore ($1 trillion) and Chicago ($988 billion). Notable cities that just missed out the top 15 include: Houston, Geneva, Osaka, Seoul, Shenzhen, Melbourne, Zurich and Dallas; better luck next time!