Mumbai: economy

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Mumbai: economy

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In Mum, more billionaires than Paris, LA

Kounteya Sinha TNN 2013/05/10

timesofindia

London: Mumbai is among the world’s top 10 cities with the highest number of billionaires, according to a study released on Thursday by premier research agency WealthInsight.

There are more billionaires in India’s financial capital than in Shanghai, Paris or Los Angeles. Ranked sixth, Mumbai is home to 26 billionaires. With 70 billionaires, New York tops the list, followed by Moscow (64), London (54), Hong Kong (40) and Beijing (29).

The list also includes Istanbul, ranked seventh with 24 billionaires, Shanghai (23), Paris (22) and Los Angeles (19).

In another list of top 20 cities with most millionaires, no Indian city made the cut. The list is led by Tokyo with 4.6 lakh millionaires. India, however, stood 11th with respect to overall number of millionaires. US boasts the most with 5,231 in 2012.

China and India have been designated as the countries to look out for by 2020, with China tipped to beat Japan and Germany to become the world’s second largest wealth market.