Hurun List: Mumbai Is Asia's New Billionaire Capital; Mukesh Ambani Features At Top 10
Hurun Rich List: Mumbai emerges as the fastest-growing billionaire capital worldwide, seeing an addition of 26 billionaires within the reporting period, propelling it to the third rank globally
Reliance Industries Chairman Mukesh Ambani stands tall as the solitary Indian representative in the top 10 of the 2024 Hurun Global Rich List, reaffirming his stature as Asia's wealthiest person. Despite a marginal slip in ranking to 10th place, the 66-year-old tycoon has saw a staggering 40 per cent surge in wealth, amassing a formidable fortune of $115 billion, according to the latest report released by Hurun on Tuesday.
The Hurun Global Rich List, now in its 13th edition, compiles wealth calculations as of January 15, 2024, providing a comprehensive snapshot of the world's billionaire landscape.
Following closely behind Ambani is Adani Group Chairman Gautam Adani, bagging the 15th spot on the global list with a net worth of $86 billion, buoyed by a remarkable $33 billion surge attributed to a rally in his conglomerate's shares.
India's economic prowess shines brightly on the global stage as the nation welcomed an impressive addition of 94 new billionaires in 2023, elevating the country's total count to 271. The combined wealth of this cohort breaches the $1-trillion mark, underscoring India's growing influence in the global economic landscape.
Fuelled by a robust stock market performance, India experienced a 'super strong year', adding the highest number of billionaires after the US. Dominant sectors driving this billionaire surge include pharmaceuticals, automobile and auto components, and chemicals, with the average age of billionaires standing at 67.
Mumbai emerges as the fastest-growing billionaire capital worldwide, seeing an addition of 26 billionaires within the reporting period, propelling it to the third rank globally. The bustling metropolis of Mumbai also clinches the title of Asia's billionaire epicentre, while New Delhi makes its debut entry into the top 10. Noteworthy cities such as Palm Beach, Istanbul, Mexico City, and Melbourne also secure positions in the Hurun Top 30 cities.
Anas Rahman Junaid, founder and chief researcher of Hurun India, said, "As we stand on the brink of revolutions in electric vehicles, space technology, and AI, India's start-up ecosystem is just beginning to unveil its potential." Junaid further asserts that overlooking the Indian narrative poses a risk no visionary can afford, signalling a pivotal shift in the global power structure.
The 2024 Hurun Global Rich List reaffirms India's ascent as a future economic powerhouse, poised to cement its position as the world's third-largest economy.
Hurun Global Rich List 2024
| Rank | Rank Change | Name | Wealth US$bn | Wealth Change(%) | Wealth Change (US$bn) | Main Company | Age | Country of Residence | Main Industry |
| 1 | 1 | Elon Musk | 231 | 47 | 74 | Tesla | 52 | USA |
Automobile & Auto Components
|
| 2 | 2 | Jeff Bezos | 185 | 57 | 67 | Amazon | 60 | USA | Retail |
| 3 | -2 | Bernard Arnault | 175 | -13 | -27 | LVMH | 74 | France | Consumer Goods |
| 4 | 12 | Mark Zuckerberg | 158 | 132 | 90 | Meta | 39 | USA | Media & Entertainment |
| 5 | 0 | Warren Buffett | 144 | 24 | 28 | Berkshire Hathaway | 93 | USA | Investments |
| 5 | 3 | Larry Ellison | 144 | 44 | 44 | Oracle | 79 | USA | Software & Services |
| 7 | 0 | Steve Ballmer | 142 | 41 | 41 | Microsoft | 67 | USA | Software & Services |
| 8 | -2 | Bill Gates | 138 | 25 | 28 | Microsoft | 68 | USA | Investments |
| 9 | 4 | Larry Page | 123 | 64 | 48 | Alphabet | 50 | USA | Media & Entertainment |
| 10 | -1 | Mukesh Ambani & family | 115 | 40 | 33 | Reliance Industries | 66 | India | Telecommunications |
| 11 | 3 | Sergey Brin | 114 | 58 | 42 | Alphabet | 50 | USA | Media & Entertainment |
| 12 | -1 | Amancio Ortega | 101 | 29 | 23 | Inditex | 87 | Spain | Consumer Goods |
| 13 | -2 | Carlos Slim Helu & family | 100 | 28 | 22 | America Movil | 84 | Mexico | Telecommunications |
| 14 | -4 | Francoise Bettencourt Meyers | 91 | 14 | 11 | L'Oreal | 70 | France | Consumer Goods |
| 15 | 8 | Gautam Adani & family | 86 | 62 | 33 | Adani | 61 | India | Energy |
| 16 | 3 | Michael Bloomberg | 74 | 16 | 10 | Bloomberg | 82 | USA | Financial Services |
| 17 | 0 | Jim Walton | 73 | 11 | 7 | Walmart | 75 | USA | Retail |
| 17 | 0 | Robson Walton | 73 | 11 | 7 | Walmart | 79 | USA | Retail |
| 19 | 1 | Alice Walton | 70 | 11 | 7 | Walmart | 74 | USA | Retail |
| 20 | 4 | Michael Dell | 66 | 32 | 16 | Dell Technologies | 58 | USA | Consumer Goods |
| 21 | -6 | Zhong Shanshan | 63 | -9 | -6 | YST | 70 | China | Food & Beverages |
| 22 | -1 | Julia Koch & family | 54 | -2 | -1 | Koch Industries | 61 | USA | Energy |
| 22 | -1 | Charles Koch | 54 | -2 | -1 | Koch Industries | 88 | USA | Energy |
| 24 | 15 | Huang Zheng | 53 | 71 | 22 | Pinduoduo | 44 | China | Retail |
| 25 | 25 | MacKenzie Scott | 49 | 88 | 23 | Amazon | 53 | USA | Investments |
| 26 | 37 | Jen-Hsun Huang | 48 | 118 | 26 | Nvidia | 61 | USA | Semiconductors |
| 27 | 5 | Gerard Wertheimer | 46 | 21 | 8 | Chanel | 73 | USA | Consumer Goods |
| 27 | 5 | Alain Wertheimer | 46 | 21 | 8 | Chanel | 75 | USA | Consumer Goods |
| 29 | -4 | Jacqueline Mars | 40 | -15 | -7 | Mars | 84 | USA | Food & Beverages |
| 29 | -4 | John Mars | 40 | -15 | -7 | Mars | 88 | USA | Food & Beverages |
| 31 | -4 | Giovanni Ferrero | 39 | -15 | -7 | Ferrero Rocher | 59 | Belgium | Food & Beverages |
| 31 | -2 | Klaus-Michael Kuehne | 39 | -5 | -2 | Kuehne & Nagel | 86 | Switzerland | Transportation & Logistics |
| 33 | 3 | Ken Griffin | 38 | 6 | 2 | Citadel | 55 | USA | Financial Services |
| 34 | 16 | Shiv Nadar & family | 37 | 42 | 11 | HCL | 78 | India | Software & Services |
| 35 | 17 | Stephen Schwarzman | 36 | 44 | 11 | Blackstone Group | 77 | USA | Financial Services |
| 36 | -8 | Francois Pinault & family | 35 | -19 | -8 | Kering | 87 | France | Consumer Goods |
| 36 | -7 | Phil Knight | 35 | -15 | -6 | Nike | 85 | USA | Consumer Goods |
| 36 | -2 | Miriam Adelson & family | 35 | -5 | -2 | Las Vegas Sands | 78 | USA | Hospitality |
| 36 | -5 | Ma Huateng | 35 | -10 | -4 | Tencent | 53 | China | Media & Entertainment |
| 40 | -6 | Zhang Yiming | 34 | -8 | -3 | ByteDance | 41 | Singapore | Media & Entertainment |
| 41 | -2 | Dieter Schwarz | 32 | 3 | 1 | Schwarz | 84 | Germany | Retail |
| 42 | -3 | Leonard Blavatnik | 31 | 0 | 0 | Warner Music | 66 | UK | Media & Entertainment |
| 43 | 0 | Gina Rinehart | 29 | 4 | 1 | Hancock Prospecting | 70 | Australia | Metals & Mining |
| 43 | 34 | Daniel Gilbert | 29 | 45 | 9 | Rocket Companies | 62 | USA | Financial Services |
| 43 | 3 | Ding Lei | 29 | 7 | 2 | Netease | 53 | China | Media & Entertainment |
| 46 | -3 | Thomas Peterffy | 28 | 0 | 0 | Interactive Brokers | 79 | USA | Financial Services |
| 46 | 325 | David Thomson & family | 28 | 12 | 3 | Thomson Reuters | 66 | Canada | Media & Entertainment |
| 46 | 44 | Abigail Johnson | 28 | 56 | 10 | Fidelity | 62 | USA | Financial Services |
| 46 | 0 | He Xiangjian & family | 28 | 4 | 1 | Midea | 82 | China | Consumer Goods |
| 46 | -7 | Li Ka-shing & Victor Li Tzar Kuoi | 28 | -10 | -3 | Cheung Kong | 9,660 | China | Investments |
| 51 | 1 | Tadashi Yanai | 27 | 8 | 2 | Fast Retailing | 75 | Japan | Retail |
| 51 | 0 | Jeff Yass | 27 | 0 | 0 | Susquehanna International Group, | 65 | USA | Trading |
| 53 | 6 | Low Tuck Kwong | 26 | 9 | 2 | Bayan Resources | 75 | Indonesia | Metals & Mining |
| 53 | 10 | James Simons | 26 | 18 | 4 | Renaissance Technologies | 85 | USA | Financial Services |
| 55 | -12 | Masayoshi Son | 25 | -11 | -3 | SoftBank | 66 | Japan | Investments |
| 55 | 2 | Vladimir Potanin | 25 | 4 | 1 | Norilsk Nickel | 63 | Russia | Metals & Mining |
| 55 | 4 | Harold Hamm | 25 | 9 | 2 | Continental Resources | 78 | USA | Energy |
| 55 | 8 | Iris Fontbona & family | 25 | 14 | 3 | Antofagasta | 81 | Chile | Metals & Mining |
| 55 | 16 | Dhanin Chearavanont & family | 25 | 17 | 4 | Ping An Insurance | 84 | Thailand | Financial Services |
| 55 | -9 | Cyrus S Poonawalla & family | 25 | -7 | -2 | Serum Institute of India | 82 | India | Pharmaceuticals |
| 61 | -15 | Takemitsu Takizaki & family | 24 | -11 | -3 | Keyence | 78 | Japan | Industrial Products |
| 61 | 2 | R Budi Hartono | 24 | 9 | 2 | Bank Central Asia | 83 | Indonesia | Financial Services |
| 61 | 10 | Michael Hartono | 24 | 14 | 3 | Bank Central Asia | 84 | Indonesia | Financial Services |
| 61 | 38 | Dilip Shanghvi & family | 24 | 41 | 7 | Sun Pharmaceutical Industries | 68 | India | Pharmaceuticals |
| 65 | -8 | Leonid Mikhelson | 23 | -4 | -1 | Novatek | 68 | Russia | Energy |
| 65 | -6 | Mark Mateschitz | 23 | 0 | 0 | Red Bull | 31 | Austria | Food & Beverages |
| 65 | -2 | Elaine Marshall & family | 23 | 5 | 1 | Koch Industries | 81 | USA | Energy |
| 65 | 6 | Susanne Klatten | 23 | 10 | 2 | BMW | 61 | Germany |
Automobile & Auto Components
|
| 65 | 25 | Vagit Alekperov | 23 | 28 | 5 | Lukoil | 73 | Russia | Energy |
| 65 | 43 | Vladimir Lisin | 23 | 44 | 7 | Novolipetsk Steel | 67 | Russia | Metals & Mining |
| 65 | 0 | Autry Stephens | 23 | 0 | 0 | Endeavor Energy Resources | 85 | USA | Energy |
| 65 | -6 | Lee Shau Kee | 23 | 0 | 0 | Henderson Land | 96 | China | Real Estate |
| 65 | -28 | Zeng Yuqun | 23 | -34 | -12 | CATL | 56 | China | Energy |
| 74 | -3 | Reinhold Wuerth & family | 22 | 5 | 1 | Wurth | 88 | Germany |
Automobile & Auto Components
|
| 74 | 16 | Andrew Forrest & family | 22 | 22 | 4 | Fortescue Metals | 62 | Australia | Metals & Mining |
| 74 | 16 | Jorge Paulo Lemann | 22 | 22 | 4 | 3G Capital | 84 | Switzerland | Investments |
| 74 | 25 | Diane Hendricks | 22 | 29 | 5 | ABC Supply | 77 | USA | Construction & Engineering |
| 74 | 79 | Alexey Mordashov & family | 22 | 69 | 9 | Severstal | 58 | Russia | Metals & Mining |
| 74 | 442 | Prajogo Pangestu | 22 | 293 | 16 | Barito Pacific | 79 | Indonesia | Chemicals |
| 74 | 0 | Gopichand Hinduja & family | 22 | 0 | 0 | Hinduja | 84 | UK |
Automobile & Auto Components
|
| 74 | -11 | Li Shufu & family | 22 | 0 | 0 | Geely | 61 | China |
Automobile & Auto Components
|
| 82 | -11 | Stefan Quandt | 21 | 0 | 0 | BMW | 57 | Germany |
Automobile & Auto Components
|
| 82 | 39 | Thomas Frist Jr & family | 21 | 40 | 6 | HCA Healthcare | 85 | USA | Healthcare |
| 82 | 224 | Eduardo Saverin | 21 | 163 | 13 | 41 | Singapore | Media & Entertainment | |
| 82 | -19 | Yan Hao | 21 | -9 | -2 | China Pacific Construction | 38 | China | Construction & Engineering |
| 82 | -30 | Ma Yun & family | 21 | -16 | -4 | Alibaba | 60 | China | Retail |
| 87 | -10 | Lakshmi N Mittal | 20 | 0 | 0 | ArcelorMittal | 73 | UK | Metals & Mining |
| 87 | -2 | Eric Schmidt | 20 | 5 | 1 | Alphabet | 68 | USA | Media & Entertainment |
| 87 | 3 | Lukas Walton | 20 | 11 | 2 | Walmart | 37 | USA | Retail |
| 87 | 66 | Emmanuel Besnier | 20 | 54 | 7 | Lactalis | 53 | France | Food & Beverages |
| 87 | 175 | Vinod Shantilal Adani | 20 | 127 | 11 | Adani Enterprises | 75 | UAE | Energy |
| 92 | -15 | Ray Dalio | 19 | -5 | -1 | Bridgewater Associates | 74 | USA | Financial Services |
| 92 | -2 | Gennady Timchenko | 19 | 6 | 1 | Novatek | 71 | Russia | Energy |
| 92 | -2 | John Menard Jr | 19 | 6 | 1 | Menards | 84 | USA | Retail |
| 92 | 16 | Eyal Ofer | 19 | 19 | 3 | Ofer Global | 73 | Monaco | Transportation & Logistics |
| 92 | 29 | Andrey Melnichenko | 19 | 27 | 4 | EuroChem | 51 | UAE | Chemicals |
| 92 | 44 | Zhang Gang & family | 19 | 36 | 5 | Xinfalyudian | 43 | China | Metals & Mining |
| 92 | -15 | Lee Choi Mei Ling & family | 19 | -5 | -1 | Lee Kun Kee | 0 | China | Food & Beverages |
| 92 | -33 | Qin Yinglin & Qian Ying | 19 | -17 | -4 | Muyuan | 59 | China | Agriculture |
| 100 | -15 | Gianluigi Aponte | 18 | -5 | -1 | Mediterranean Shipping | 83 | Switzerland | Transportation & Logistics |
In the global arena, Tesla's Chief Executive Officer (CEO) Elon Musk secures the pinnacle of the billionaire hierarchy with a staggering wealth of $231 billion, closely followed by Jeff Bezos of Amazon with a net worth of $185 billion.
Pop sensation Taylor Swift, 34, joins the esteemed billionaire club, not through conventional celebrity endeavours, but predominantly fuelled by her music career. Over half of Swift's fortune originates from royalties and touring, with significant contributions from her music catalog's value, particularly after the sale of her first six albums to Shamrock Capital for $300 million in 2020.
The 2024 Hurun Global Rich List encapsulates not only wealth distribution but also heralds India's economic emergence and underscores the transformative potential of its entrepreneurial ecosystem.
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