Hurun India Rich List 2025: Which city is the home to most billionaires this year?

 

India’s wealth map is becoming more layered than ever. Mumbai has cemented its crown as the country’s billionaire capital, leading the M3M Hurun India Rich List 2025 with 451 entrants, a leap from 255 in 2021, and home to Asia’s richest, Mukesh Ambani & family, with 91 billionaires.

New Delhi follows with 223 names, led by Roshni Nadar Malhotra & family, and counts 70 billionaires. Bengaluru, with 116 entrants, is powered by Azim Premji & family, while Hyderabad with 102, Chennai with 94, and Pune with 66 signal the decentralisation of wealth hubs across the country. Ahmedabad and Kolkata, each with 68 entrants, also feature prominently.

Sectorally, pharmaceuticals top the list with 137 listers, followed by industrial products (132), chemicals & petrochemicals (125), software & services (110), and real estate (99). Biotech has emerged as a fast-growing sector, adding to India’s diversified wealth engine.

India’s global standing

India ranks third globally for the number of billionaires, with 284 individuals on the Hurun Global Rich List 2025. Their combined wealth stands at Rs 98 trillion—nearly one-third of India’s GDP and greater than Saudi Arabia’s total GDP.

Mukesh Ambani retains his place as Asia’s richest man at Rs 8.6 trillion, despite a Rs 1 trillion dip from last year. He narrowly edges Gautam Adani, whose fortune rose 13% to Rs 8.4 trillion.

Other prominent names include Roshni Nadar (Rs 3.5 trillion), Dilip Shanghvi (Rs 2.5 trillion), Azim Premji (Rs 2.2 trillion), Kumar Mangalam Birla (Rs 2 trillion), Cyrus Poonawalla (Rs 2 trillion), Niraj Bajaj (Rs 1.6 trillion), Ravi Jaipuria (Rs 1.4 trillion), and Radhakishan Damani (Rs 1.4 trillion).

New entrants and city spread

India added 13 new billionaires this year, taking the total to 284. Of these, 175 saw their fortunes grow, while 109 recorded declines or remained flat. Mumbai remains the hub with the most billionaires, though it has slipped behind Shanghai (92 billionaires) and Beijing (91) in Asia. Still, Mumbai added 11 new billionaires, more than London (7) and Beijing (8).

The city rankings show the scale of change: Gurugram (38), Surat (32), and Coimbatore (17) continue to rise, while Rajkot, Ludhiana, Jaipur, and Indore each host a dozen or fewer but growing ultra-wealthy entrants. Indian names also feature abroad, with London hosting 12 and San Francisco 9.

Ambani vs Adani

Mukesh Ambani, Chairman of Reliance Industries, remains Asia’s richest man with a net worth of Rs 8.6 trillion. His wealth dipped by Rs 1 trillion from last year but was still enough to keep him ahead of rival Gautam Adani, whose fortune rose 13% to Rs 8.4 trillion.

Other top names include:

• Roshni Nadar (HCL) – Rs 3.5 trillion

• Dilip Shanghvi (Sun Pharma) – Rs 2.5 trillion

• Azim Premji (Wipro) – Rs 2.2 trillion

• Kumar Mangalam Birla (Aditya Birla Group) – Rs 2 trillion

• Cyrus Poonawalla (Serum Institute) – Rs 2 trillion

• Niraj Bajaj (Bajaj Auto) – Rs 1.6 trillion

• Ravi Jaipuria (RJ Corp) – Rs 1.4 trillion

• Radhakishan Damani (Avenue Supermarts) – Rs 1.4 trillion