Mumbai is 12th richest city globally with total wealth at $90 bn
According to a report by New World Wealth, India’s financial capital Mumbai, with a total wealth of USD 950 billion, has been named among the top 15 wealthiest cities globally, while New York topped the list.
Mumbai is the 12th wealthiest city, followed by Toronto with a total wealth of USD 944 billion, Frankfurt (14th, USD 912 billion) and Paris (15th, USD 860 billion).
Total wealth, refers to the private wealth held by all the individuals living in each city. It includes all their assets (property, cash, equities, business interests) less any liabilities. Government funds are excluded from the figures.
Mumbai, also features among the top 10 cities in terms of billionaire population. The city is home to 28 billionaires, individuals with USD 1 billion or more in net assets.
London ranked second in the list with USD 2.7 trillion, followed by Tokyo (USD 2.5 trillion), and San Francisco Bay area (USD 2.3 trillion). Others in the list include Beijing (USD 2.2 trillion), Shanghai (USD 2 trillion), Los Angeles (USD 1.4 trillion), Hong Kong (USD 1.3 trillion), Sydney (USD 1 trillion), Singapore (USD 1 trillion) and Chicago (USD 988 billion).