The Hurun India Wealth Report 2025 declared Mumbai as the ‘Millionaire Capital’ of India. Seeing a 194% growth since 2021, Maharashtra has the maximum number of millionaire households. With 1,42,000 millionaires, Mumbai is the flagship city to house the rich, with India’s wealthiest man Mukesh Ambani, residing in his tall-standing Antilia.
Maharashtra also has immense wealth dominance supported by a 55% surge in GSDP. Mumbai also tops the list among the most important cities for the next decade, with its wealth concentration alone. The city also has an unrivalled financial ecosystem with the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, and the SEBI headquartered there.
Top 7 Billionaires of Maharashtra
Mukesh Ambani (Rs 9 lakh crore)
Chairman of Reliance Industries, Mukesh Ambani, is the epitome of business dominance. A prevalent stakeholder in almost all major sectors of India, his $119.5 billion net worth alone is more than that of Iceland, Estonia, and Bosnia and Herzegovina ($109.1 billion). Not just business development, the Amabni family has several personal assets to their name, from luxurious cars to extravagant real estate.
Dilip Sanghvi (Rs 2.85 lakh crore)
Founder of Sun Pharmaceuticals, Forbes ranks him the 88th richest in the world with his $25 billion net worth. Today, Sun Pharma is one of the most valuable listed pharma outfits with a $5.3 billion annual revenue from overseas markets. They also made their biggest purchase in 2014 when they acquired Ranbaxy Laboratories, their biggest rival, for $4 billion.
Cyrus S Poonawalla (Rs 2.1 lakh crore)
Leading the Serum Institute of India, Cyrus S Poonawalla is the world’s largest vaccine maker. Driving Maharashtra to the heights of financial dominance, these billionaires are alone worth $140 billion.
Bajaj Family (Rs 2 lakh crore)
The Bajaj Family dominates the 99-year-old Bajaj Group with mega players like Bajaj Auto and Bajaj Finserv under their name. Chaired by Rahul Bajaj, 83, who hailed from Pune and passed away in 2022. After the patriarch, the group was taken over by his sons, Rajiv and Sanjiv Bajaj.
Radhakishan Damani & family (Rs 1.9 lakh crore)
The Damani family, Radhakishan and brother Gopikishan, is one of the biggest billionaires in the fashion and retail industry in India. The retail mogul, after launching its IPO in 2017, has stakes in several companies, such as tobacco firm VST Industries, and also formerly in India Cements. They are also holders of one of the biggest real estate purchases in India, including hotels and private residences.
Kumar Birla ( Rs 1.8 lakh crore)
This fourth-generation billionaire has a massive $21 billion net worth and leads the $66 billion Aditya Birla Group today. Making their presence felt in 40 countries, this Mumbai-based billionaire spans stakes in the cement, textiles, aluminium, telecom, financial services, and paints industries.
Shapoor Mistry & Family ( Rs 1.7 lakh crore)
Controlling the 159-year-old constructional giant, Shapoor Mistry leads the Shapoorji Pallonji Group. The family’s biggest asset is an 18.4% stake in Tata Sons, the holding company of the $165 billion (revenue) Tata Group.
