Mumbai ranked as 12th Wealthiest City in World, ahead of Paris and Toronto

On that way of becoming the top economic power of the world, India is making headlines one after another. As a mark of its boosting economy, Mumbai, the financial capital of the country recorded enough wealth to be named among the top 15 Wealthiest Cities in the World. The report published by New World Wealth ranked Mumbai as the 12th wealthiest city in the world ahead of Toronto, Frankfurt and Paris. The measurement was based on the net private wealth of all individuals, including business liabilities, immovable or movable properties and cash or equities.

Per the report, Mumbai residents has a total wealth of USD 950 Billion. It also suggests that in next 10 years the city will witness a sharp growth in net wealth further. In fact, the city will be the fastest growing city in the world in terms of wealth. At present, Mumbai is the home to 28 billionaires. This makes the city among the top 10 cities with billionaire population.

Also, there are reports that listed 46,000 millionaires in the city. Known as the financial capital of India, Mumbai also boast off the two largest stock exchanges of the nation. The Bombay Stock Exchange is also the 12th largest stock exchange in the world. In Mumbai, the richest localities are identified as Bandra, Juhu, Goregaon, Parel, Worli nand Palm Beach Road.

The list ranked London as the second wealthiest city with the figure of USD 2.7 trillion. The cities following London are Tokyo, San Francisco Bay Area, Beijing, Shanghai. Los Angeles, Honk Kong, Sydney, Singapore and Chicago. Within India, Mumbai is followed by Delhi and Bengaluru. Delhi has 18 billionaires and 23,000 millionaires amounting to USD 450 Billion.

Bengaluru stands with an aggregate of USD 320 Billion with a tally of 7,700 millionaires and 8 billionaires. Other top cities in India are Hyderabad, Kolkata and Pune. Per a 2016 report India had a total wealth of USD 6.2 trillion. The country had 2,64,000 millionaires and 95 billionaires in total.