May 10, 2013
LONDON: Mumbai is among the top 10 cities with the most billionaires in the world, said a study by WealthInsight, a premier research agency, on Thursday.
May 10, 2013
LONDON: Mumbai is among the top 10 cities with the most billionaires in the world, said a study by WealthInsight, a premier research agency, on Thursday.
Ranked sixth, Mumbai is home to 26 billionaires. There are more billionaires in Mumbai than in Shanghai, Paris or Los Angeles. New York tops the list with 70 billionaires, followed by Moscow (64), London (54), Hong Kong (40) and Beijing at fifth spot with 29.
The top 10 list includes Istanbul, ranked seventh with 24 billionaires, Shanghai (23), Paris (22) and Los Angeles (19).
There is no Indian city on WealthInsight's top 20 cities with millionaires. Tokyo tops with 4.6 lakh millionaires. Twenty cities have more than 100,000 millionaires. In terms of the overall number of millionaires; India ranks 11th.
The US boasts the most with 5,231 in 2012, a figure WealthInsight expects to jump to 7,318 by 2020. China and India have been designated as countries to look out for, by 2020. It predicted that China will overtake Japan and Germany to become the second largest wealth market by 2020.
India is also expected to rise from 11th place in 2012 to 5th place in 2020.
Courtesy: TNN
