According to the latest global rich list by the Hurun Research Institute, Mumbai has surpassed Beijing as Asia’s billionaire capital for the first time, boasting 92 billionaires, trailing behind New York and London. Led by figures like Mukesh Ambani and Gautam Adani, India added 94 billionaires in 2023, marking its highest number since 2013, with confidence in the economy reaching record levels. Meanwhile, China still leads the list with 814 billionaires, though its numbers declined by 155 from 2022 due to struggles in real estate and renewable energy sectors.