Mumbai Is 12th Richest Global City With $950 Bn Private Wealth
Mumbai is also home to 28 billionaires, putting it in the top 10 cities in terms of the billionaire population.
Mumbai, the financial capital of India, is now the 12th richest city in the world, according to a latest report by New World Health, reported Times of India.
According to the report, Mumbai is the 12th richest city with $950 billion of private wealth owned by individuals including all assets such as property, cash, equities and business interests. The figures did not take government funds into consideration.
The city is also home to 28 billionaires, putting it in the top 10 cities in terms of the billionaire population.
Total wealth held in the city amounts to $950 billion. Mumbai is the economic hub of India. It is also home to the Bombay Stock Exchange, the 12th largest stock exchange in the world. Major industries in the city include financial services, real estate and media giants.The report as quoted by Times of India
The list was topped by New York with a total wealth of $3 trillion, London at second place with $2.7 trillion and Tokyo in third position with $2.5 trillion, reported TOI.
Beijing ranked 4 with $2.2 trillion followed by Shanghai ($2 trillion), Los Angeles ($1.4 trillion), Hong Kong ($1.3 trillion), Sydney ($1 trillion), Singapore ($1 trillion) and Chicago ($988 billion).
TOI reported that Mumbai was followed by Toronto with a total wealth of $944 billion, Frankfurt ($912 billion) and Paris ($860 billion).
According to the report, San Francisco, Beijing, Shanghai, Mumbai and Sydney were the fastest-growing cities in terms of wealth growth during the past 10 years.
(With inputs from Times of India)
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