The city has more billionaires than Beijing. (Image: Getty)
has a thriving economy with a GDP of £2.7 trillion, making it the fifth largest in the world.
As one of the world’s economic powerhouses, also boasts an increasing number of extraordinarily wealthy people.
The country currently has a staggering 185 billionaires, a rise of 21% from the previous year.
Further enhancing its reputation for entrepreneurial brilliance, one of its major cities has now become the billionaire capital of .
Mumbai has a whopping 92 billionaires, one more than its rival Beijing – the capital of China.
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Mukesh Ambani is believed to be the richest man in India. (Image: Getty)
The financial centre of added 26 new billionaires last year, while Beijing lost 18 over the same period.
Mumbai ranks third globally in terms of its total billionaire population, only behind New York (119) and London (97).
Dehli has the next largest concentration of billionaires in , with 68, followed by the IT hub Bengaluru, which has 27.
One of those billionaires is Mukesh Ambani, who boasts an impressive net worth of £92 billion – placing him at the pinnacle of India’s wealth hierarchy.
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As the Managing Director and Chairman of Reliance Industries, Ambani oversees a vast enterprise generating revenues surpassing Rs 8 lakh crore (£82bn).
The company was founded in 1966 by his late father, Dhirubhai Ambani, a yarn trader, as a small textile manufacturer.
After his father died in 2002, Ambani and his younger sibling Anil divvied the family empire.
Reliance Industries’ diverse portfolio includes petrochemicals, oil and gas, retail, telecom, and more.
Ambani has also expanded Reliance into green energy as it continues to diversify its portfolio.
The company will invest £63 billion in renewable energy over the next 10-15 years and build a new complex next to its refinery.
Ambani’s three children joined the Reliance board in 2023, extending the family’s involvement in the company.