Mumbai 12th richest city globally, New York tops the list: Report by New World Wealth
According to a report by New World Wealth, Mumbai has ranked 12th out of 15 wealthiest cities globally.
About New World Wealth’s list of 15 wealthiest cities:
New World Wealth is a global market research group, based in Johannesburg, South Africa. It specializes in ratings, surveys, country reports and wealth statistics.
- In context of this report, total wealth, refers to the private wealth held by all the individuals living in each city. Government funds are not included in total wealth.
- Private Wealth includes assets (property, equities, cash, and business stakes) less any liabilities.
About 15 wealthiest cities:
With USD 950 billion total wealth, Mumbai is the only India city to feature in the list of 15 wealthiest cities.
- Although Mumbai is ranked 12th in terms of total wealth, in terms of billionaire population it featured among the top 10 cities. Mumbai is home to 28 billionaires (individuals with USD 1 billion or more in net assets).
- Mumbai is regarded as the economic hub of India. It is also home to the Bombay Stock Exchange (BSE), the 12th largest stock exchange in the world.
- The report has outlined that Mumbai is expected to be the fastest growing city (in terms of wealth growth) over the next 10 years.
- With USD 3 trillion total wealth, New York has topped the list of 15 wealthiest cities.
- As per the estimates in the report, San Francisco, Beijing, Shanghai, Mumbai and Sydney have been found to be the fastest growing cities in terms of wealth growth over the past 10 years.
Top 15 wealthiest cities:
|Rank||Cities||Total Wealth(in USD)|
|1||New York, US||3 Trillion|
|2||London, UK||2.7 Trillion|
|3||Tokyo, Japan||2.5 Trillion|
|4||San Francisco Bay Area, US||2.3 Trillion|
|5||Beijing, China||2.2 Trillion|
|6||Shanghai, China||2 Trillion|
|7||Los Angeles, US||1.4 Trillion|
|8||Hong Kong||1.3 Trillion|
|9||Sydney, Australia||1 Trillion|
|11||Chicago, US||988 billion|
|12||Mumbai, India||950 billion|
|13||Toronto, Canada||944 billion|
|14||Frankfurt, Germany||912 billion|
|15||Paris, France||860 billion|