The latest 2024 Hurun Global Rich List has unveiled significant insights into the distribution of wealth worldwide. According to the report released this week, the United Arab Emirates (UAE) stands 22nd among countries accommodating ultra-high net worth individuals, boasting a total of 24 billionaires. Notably, Dubai, one of the UAE’s prominent cities, secured the 28th position globally, serving as the residence for 21 billionaires.
The Hurun Global Rich List for 2024 encompasses a staggering 3,279 billionaires, marking an increase from the previous year’s 3,112. This surge in billionaire numbers indicates a 5 per cent rise, with their collective wealth witnessing a notable uptick of 9 per cent. The wealth calculations were based on data up to January 15 this year, encompassing individuals from 73 countries and representing 2,435 companies.
Despite a slight decline in the number of billionaires, China continues to maintain its stronghold as the world’s leading hub for billionaires, with 814 individuals, followed closely by the United States, which added 109 billionaires, reaching a total of 800.
India emerges as a significant player, securing the third position with 271 billionaires, almost double the count of billionaires in the UK, which stands at fourth place with 146 individuals. Germany, Switzerland, Russia, Italy, France, and Brazil follow suit in the top ten rankings.
In terms of cities, New York reaffirms its status as the global billionaire capital, closely trailed by London. Mumbai climbs to the third spot, marking the fastest growth among billionaire capitals, with 26 additions over the year. New Delhi makes its debut in the top ten.
Elon Musk retains his title as the world’s richest individual, with a net worth of $231 billion, followed by Jeff Bezos and Bernard Arnault. Notably, Mukesh Ambani, representing India, retains his status as the country’s wealthiest individual despite dropping to the tenth position globally.
Hurun, established in the UK in 1999, remains a prominent authority in tracking global wealth distribution, fostering entrepreneurship through its research and media initiatives. The organization has been actively hosting high-profile events across various international locations, including China, India, Europe, and the Middle East.