Mumbai named in list of 15 wealthiest cities globally, as per latest report by New World Wealth

India’s financial capital Mumbai, with a total wealth of $950 billion, has been named 12th wealthiest city among the top 15 wealthiest cities globally. 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. According to a new report by New World Wealth, the list was topped by New York with a total wealth of $3 trillion. London ranked second in the list with $2.7 trillion, followed by Tokyo ($2.5 trillion), and San Francisco Bay area ($2.3 trillion). Total wealth, refers to the private wealth held by all the individuals living in each city. It includes all their assets (property, cash, equities, business interests) less any liabilities. Government funds are excluded from the figures.