A report titled New World Wealth report has found that 28 billionaires live in Mumbai, contributing significantly to making the Maximum City the world’s 12th richest city.
Mumbai’s wealth of USD 950 billion makes it an economic powerhouse. Toronto, Frankfurt, and Paris have been beaten by Mumbai! New York, London, and Tokyo are the world’s top 3 cities.
While Mumbai is expected to grow the fastest in the next decade, its infrastructure is poised to take off in a big way, thanks to the initiatives of the Centre and the state governments.
“Why do the rich stay here? Cheap and abundant labor (read domestic help) and optional laws make for a great quality of life. Compared to this, a first world country would seem burdensome,” says Anupam Gupta on Twitter.