US overtakes China as world’s billionaire capital, India holds 3rd spot: Hurun Global rich list – The Times of India-OxBig News Network

The US has reclaimed its position as the world’s leader in billionaires, surpassing China for the first time since 2016, according to the latest Hurun Global rich list.
The US now has 870 billionaires, an increase of 70 from the previous year, while China follows with 823 billionaires, adding just 9 to its tally but reversing a two-decade decline in billionaire numbers. Together, these two countries dominate the global billionaire landscape.

India ranks third, with 284 billionaires, adding 13 new billionaires this year. Singapore saw a notable rise, jumping three places to 13th, surpassing Indonesia, Thailand, and Japan. Other countries showing progress include Russia, Canada, Turkey, and Mexico. By city, New York retained its title as the world’s billionaire capital for the second consecutive year, while London held second place. Shanghai, on the other hand, emerged as the Asian Billionaire Capital for the first time.
US regains top spot after 10 years
The US, with 870 billionaires, reclaimed its top spot after a decade, driven by a surge of 96 new billionaires. The country saw only 17 drop-offs, showcasing strong entrepreneurial growth. New York remains the billionaire hub, home to 129 billionaires, a title it held until Beijing overtook it in 2016.
American billionaires hold 42% of the total wealth listed, with 45 of them in the Hurun Top 100. The US leads in immigrant billionaires, with 206, reinforcing its status as a global wealth creation centre.

Key sectors driving billionaire wealth in the US include Financial Services (170 billionaires), Media & Entertainment (111), and Software & Services (106). The US also has 130 women billionaires, second only to China.
China falls to second spot
China, which had held the top spot for a decade, now ranks second with 823 billionaires. Despite losing 82 billionaires, China added 91 new ones, with Shanghai leading as the top city for billionaires, home to over 92.
Chinese billionaires contribute 16% of the total wealth on the list, and the country has the highest number of self-made billionaires (90%), with many of them in the Industrial Products, Consumer Goods, and Healthcare sectors.
India at 3rd position
India maintains its position as the third-largest home to billionaires, with 284 billionaires, 45 more than the previous year. Mumbai remains the country’s billionaire capital, housing 90 billionaires. Indian billionaires contribute 7% of the total wealth, with 7 billionaires in the Hurun Top 100.
India has a notable number of emigrant billionaires, with 42 moving to countries like the US, though the country has a low count of immigrant billionaires (6). Key sectors include Healthcare, Consumer Goods, and Industrial Products. Notably, Gautam Adani saw a 13% surge in wealth, securing 18th place globally, while Mukesh Ambani remains India’s wealthiest person.