Mumbai dethrones Beijing to become Asia's billionaire capital

The report noted a significant addition of 26 new wealthy individuals to take the city's billionaire number to 92 surpassing the Chinese capital, which is home to 91 billionaires.

Globally, Mumbai is at the third position, only behind cities like New York and London.

In India, the Maharashtra capital is followed by Delhi and Hyderabad. The order of cities is also the same for the most preferred city for Hurun India Rich Listers.

In a significant achievement, Hyderabad has for the first time overtook Bengaluru with 18 billionaires.

Moreover, India has seen a raise by 29 percent in the number of billionaires, taking the overall tally to 334. The new entrants included Bollywood celebrities like Shah Rukh Khan, Juhi Chawla, Hrithik Roshan, Karan Johar, and Amitabh Bachchan.