The United States has regained its position as the global leader in billionaires, overtaking China for the first time in nearly a decade, according to the latest Hurun Global Rich List. The US now boasts 870 billionaires, an increase of 70 from the previous year, while China follows with 823 billionaires, adding just nine new billionaires. This marks the first reversal in China’s billionaire count after two years of decline.
India ranks third with 284 billionaires, up 45 from last year. The country’s billionaire population continues to grow, with Mumbai remaining the capital for the nation’s wealthy, home to 90 billionaires. Singapore has also made significant strides, rising three places to 13th, overtaking Indonesia, Thailand, and Japan. Meanwhile, Russia, Canada, Turkey, and Mexico all saw growth in their billionaire numbers.
New York has retained its title as the world’s billionaire capital for the second consecutive year, with London in second place. Shanghai, however, has emerged as the Asian city with the highest concentration of billionaires, marking a notable shift in the region.
After holding the top spot for a decade, China has fallen to second place despite still being home to many billionaires. While the country lost 82 billionaires, it added 91 new ones, with Shanghai leading the charge, housing over 92 billionaires. China also boasts the highest percentage of self-made billionaires, with many emerging from the Industrial Products, Consumer Goods, and Healthcare sectors.
In the US, the strong growth of 96 new billionaires has propelled the country back to the top spot. American billionaires now account for 42% of the total wealth on the list, with New York continuing to serve as a major hub. The financial services, media, and software sectors remain key drivers of wealth in the US, and the country also leads in the number of immigrant billionaires.
India’s wealthiest individuals include Mukesh Ambani, who continues to lead the country’s billionaires, and Gautam Adani, whose wealth surged by 13%, securing 18th place globally. With the wealth of Indian billionaires contributing 7% of the list, the country maintains its position as a significant global player in the billionaire landscape.
