7. London: 63 Billionaires
London city, the capital of England and the United Kingdom is home to 63 billionaires whose cumulative net worth is $316.1 Billion. London added seven new billionaires this year in spite of facing challenging economic conditions due to Brexit and the Covid-19 pandemic.
There was a rise of 37% in the net worth of London’s billionaire residents compared to last year. Leonard Blavatnik, Ukrainian-born oil and media magnate added $10 billion dollars to his net worth which is now $32 billion. José Neves, the founder of online luxury fashion retailer Farfetch, is a newcomer this year as Farfetch stock gained a whopping 500% in the past year.
8. Mumbai: 48 Billionaires
Mumbai, the Financial Hub of India, is at eighth position in the list of the world’s richest cities. The city added record 10 billionaires to its list which is now home to 48 billionaires. Mukesh Ambani, chairman and managing director of Reliance industries is a resident of Mumbai.
Mukesh Ambani, the richest person in Asia almost doubled his net worth to $84.5 billion this year, thanks to record stock market gains despite the economic slowdown caused by the pandemic which led to GDP contraction. Mukesh Ambani is the world’s 10th richest person accounting for nearly 33% of Mumbai billionaires’ total wealth which is $265 Billion. Reliance Industries raised record capital in the history of corporate India last year by diluting its stake in telecom arm, Reliance Jio to US companies like Google, Facebook, Microsoft, etc.
