According to a report by New World Wealth, Mumbai, the financial capital of India is the 12th richest city in the world with $ 950 billion (Rs 61 lakh crores approx.) in total wealth in the 15 country-list.

Mumbai was followed by Toronto at the 13th position with a total wealth of $944 billion, Frankfurt at 14th ($912 billion) and Paris at 15th ($ 860 billion).

Total wealth for the report was the private wealth held by all the individuals living in each city including all their assets (property, cash, equities, business interests) less any liabilities. Government funds are excluded from the figures.

Mumbai was also featured among the top 10 cities in terms of billionaire population. It is home to 28 billionaires (individuals with USD 1 billion or more in net assets).

Going forward, Mumbai is expected to be the fastest growing city (in terms of wealth growth over the next 10 years) said the report.

New York topped the list of the wealthiest city with a total wealth of $3 trillion.

Inputs From PTI