Hyderabad home for 7,800 ultra-rich

Hyderabad: Hyderabad is the fast emerging as a city for ultra rich persons, if Asia Pacific 2016 Wealth Report is of any indication. As many as six Indian cities were featured among the 'emerging Asia Pacific cities' with less than 10,000 High Net-Worth Individuals, while Mumbai and Delhi featured 12th and 20th rank, respectively.

According to the report, the Pearl City has achieved the second place after Kolkata, with 7,800 high net-worth individuals (HNWIs). The six cities include -- Kolkata which is home to 8,700 HNWIs, followed by Hyderabad (7,800), Bangalore (6,700), Chennai (6,000), Pune (3,800) and Ahmedabad (3,700).

Under multi-millionaires category, the Indian cities include, Kolkata has 560 such individuals followed by Hyderabad (510), Bengaluru (430), Chennai (390), Pune (240) and Ahmedabad (230). On the other hand, Mumbai became a hub for 41,200 millionaires, and Delhi houses 20,600 high net worth individuals, the reported added.

The Asia Pacific 2016 Wealth Report was released by the New World Wealth. The report said, Tokyo tops Asia Pacific city for the ultra-rich with 2,64,000 millionaires. High Net-Worth Individuals or HNWIs (millionaires) were defined as those individuals with net assets of $1 million or more.

In terms of number of multi-millionaires (individuals with net assets of $10 million or more), Hong Kong topped the list with 9,650 such individual, while Mumbai was ranked at the eighth place with 2,690 super-rich people and Delhi was placed at the 14th place with 1,340 such individuals.