According to the Mercedes-Benz Hurun India Wealth Report 2025, Mumbai has the highest number of millionaire households in India, with 1.42 lakh households, more than Delhi and Bengaluru combined. Maharashtra as a whole has 1.78 lakh millionaire households, with Mumbai alone contributing nearly 80% of this wealth.

The city's dominance as India's financial hub is supported by the dominance of RBI, SEBI, BSE and NSE. Strong growth in the stock market, business expansion and an increase in the state's GDP have led to a sharp 194% increase in the number of millionaire households since 2021.

In comparison, Delhi has 68,200 millionaire households and Bengaluru has 31,600 households. While wealth grows in other cities, Mumbai still accounts for 16% of India's total, making it the country's largest wealth hub and a major Asian wealth hub.