With $950bn private wealth, Mumbai is 12th richest city in world, home to 28 billionaires
India's financial capital Mumbai, with a total wealth of $950 billion, is among the top 15 wealthiest cities globally, while New York tops the list, says a report.
According to a report by New World Wealth, the economic hub of India is the 12th wealthiest city, followed by Toronto with a total wealth of $944 billion, Frankfurt ($912 billion) and Paris ($860 billion).
Total wealth refers to the private wealth held by all the individuals living in each city. It includes all their assets (property, cash, equities and business interests) less any liabilities. Government funds are excluded from the figures.
Mumbai also features among the top 10 cities in terms of billionaire population. The city is home to 28 billionaires, individuals with $1 billion or more in net assets.