Mumbai ranks as world's 12th most wealthy city
The Wealth Report launched globally Wednesday by Knight Frank, a property consultant ranked Mumbai as world's 12th most wealthy city, up from the 18th spot it was put at in 2017

- Mar 7, 2019,
- Updated Mar 7, 2019 5:53 PM IST
Seems the ubiquitous line marking the rich-poor divide in India continues to widen with the rich getting richer by the day than in any other country.
The Wealth Report launched globally Wednesday by Knight Frank, a property consultant, ranked Mumbai as world's 12th most wealthy city, up from the 18th spot in 2017. London is at number spot reclaiming the position from New York despite Brexit concerns.
The report also said that India tops the list when it comes to increase in its billionaire population clocking 116% growth percentage. The country also leads with a rise in the number of ultra high net worth individuals (UHNWI) globally.
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UHNWIs or ultramillionaires are individuals with an investible surplus of Rs 225 crore, whereas, millionaires are persons with an investible surplus of Rs 7.2 crore, and billionaires are those with an investible surplus of Rs 7,200 crore.
While Mumbai overshadows other cities in India in terms of the country's millionaires and ultramillionaires, Bengaluru is where the country's richie rich are concentrated at, with their number at 33.
Seems the ubiquitous line marking the rich-poor divide in India continues to widen with the rich getting richer by the day than in any other country.
The Wealth Report launched globally Wednesday by Knight Frank, a property consultant, ranked Mumbai as world's 12th most wealthy city, up from the 18th spot in 2017. London is at number spot reclaiming the position from New York despite Brexit concerns.
The report also said that India tops the list when it comes to increase in its billionaire population clocking 116% growth percentage. The country also leads with a rise in the number of ultra high net worth individuals (UHNWI) globally.
Also Read:
UHNWIs or ultramillionaires are individuals with an investible surplus of Rs 225 crore, whereas, millionaires are persons with an investible surplus of Rs 7.2 crore, and billionaires are those with an investible surplus of Rs 7,200 crore.
While Mumbai overshadows other cities in India in terms of the country's millionaires and ultramillionaires, Bengaluru is where the country's richie rich are concentrated at, with their number at 33.