In a world constantly shifting with innovation, influence, and investment, the global capital of wealth remains unchanged—New York City has once again clinched the top spot in Forbes’ 2025 list of billionaire cities. With a staggering 123 billionaires whose combined net worth stands at $759 billion, the Big Apple continues to be a financial fortress, a haven for hedge fund kings, tech titans, and media moguls. But while Manhattan soars, the story back home in India is just as compelling.
In Mumbai: India’s Billionaire Beacon
Mumbai, India’s financial nerve center, retains its title as the country’s billionaire capital, ranking 6th globally with 67 billionaires worth $349 billion. Although the city slipped two spots from its 2024 ranking, its foundation only grew stronger. In a testament to India’s evolving economic narrative, Mumbai added six fresh billionaires in 2025 alone—four of whom hail from the Doshi family, thanks to the blockbuster IPO of Waaree Industries, a solar energy powerhouse reshaping India’s renewable landscape. This uptick isn’t just about numbers—it signals Mumbai’s metamorphosis from old-money dynasties to a bold generation of green-tech visionaries and startup disruptors.
“The city’s mix of legacy wealth and new-age entrepreneurship makes it one of the most dynamic financial ecosystems in the world,” said a senior analyst at Forbes India.
Solar Power to the Stock Market: The Doshi Ascent
Among the breakout stories of 2025 is the Doshi family, whose strategic pivot to renewable energy has paid solar-powered dividends. Waaree Industries, which went public earlier this year, is now a stock market darling—bringing not only massive valuations but also shining a spotlight on India’s green transition. From rooftop panels in Ratnagiri to utility-scale farms in Rajasthan, the Doshis have electrified India’s energy future—and billionaire charts—with sunlight.
A Global Game: Where the Wealth Resides
Here’s how the billionaire capitals stacked up in 2025:
| City | Number of Billionaires | Combined Net Worth |
|---|---|---|
| New York City | 123 | $759 billion |
| Hong Kong | 110 | $594 billion |
| London | 104 | $545 billion |
| Beijing | 91 | $488 billion |
| Shanghai | 81 | $441 billion |
| Mumbai | 67 | $349 billion |
(source: Forbes 2025)
Mukesh Ambani: Still the Maharaja of Wealth
While the charts shuffled and new names emerged, one figure stood unshaken: Mukesh Ambani, chairman of Reliance Industries, remains Asia’s richest man, now worth $92.5 billion. His continued dominance is underpinned by diversification—retail, telecom, green energy—all deeply rooted in Indian soil, yet with global reach.