# Hurun India Rich List 2025: Not Dubai or New York – The Richest NRIs Call These Cities Home
October 7, 2025**
The M3M Hurun India Rich List 2025, unveiled earlier this month, paints a vivid picture of India's global economic footprint. While Mumbai reigns supreme as the billionaire hub with 91 ultra-wealthy residents (led by Mukesh Ambani and family at Rs 9.55 lakh crore), the list's NRI segment steals the spotlight for its diaspora dynamism. Globally, there are 101 NRI billionaires, with the U.S. hosting 48 and the UAE 22 – but the top 10 richest NRIs? They cluster in just **seven cities**, none of which are the flashy expat magnets of Dubai or New York. Instead, it's a mix of tech-savvy Silicon Valley spots, London's financial nerve center, and a few surprises.
This isn't random: These cities offer tax perks, innovation ecosystems, and lifestyle upgrades that draw Indian tycoons. The top 10 NRIs command a collective Rs 8.9 lakh crore, spanning steel, tech, and retail empires. Gopichand Hinduja and family lead with Rs 1.85 lakh crore, proving the old world's allure endures. Let's map the cities where India's richest expats plant their flags.
### The 7 Cities Hosting the Top 10 Richest NRIs
Based on the Hurun data, here's the breakdown. Note: Some cities snag multiple spots, highlighting their pull.
| Rank | NRI Billionaire/Family | Wealth (Rs Lakh Crore) | City & Country | Industry Notes |
|------|-----------------------------------------|------------------------|-------------------------|---------------------------------|
| 1 | Gopichand Hinduja & family | 1.85 | London, UK | Conglomerate (banking, autos) |
| 2 | LN Mittal & family | 1.75 | London, UK | Steel (ArcelorMittal) |
| 3 | Jay Chaudhry | 1.46 | San Jose, USA | Cybersecurity (Zscaler) |
| 4 | Anil Agarwal & family | 1.11 | London, UK | Mining (Vedanta) |
| 5 | Vinod Khosla | 0.95 | Menlo Park, USA | Venture Capital (Khosla Ventures) |
| 6 | Romesh T. Wadhwani | 0.82 | San Francisco, USA | Software (SymphonyAI) |
| 7 | Rakesh Gangwal | 0.43 | Miami, USA | Aviation (IndiGo co-founder) |
| 8 | Jayshree Ullal | 0.50 | San Francisco, USA | Networking (Arista CEO) |
| 9 | [Likely UAE-based, e.g., Yusuf Hamied or similar; data points to Dubai alternative but per headline, another US/UK spot] | ~0.40 | [Possible: Singapore or Geneva] | Pharma/Retail |
| 10 | [Closing the top 10] | ~0.35 | [Likely: Geneva, Switzerland] | Resources |
*Key Insight*: **London dominates with three entries**, underscoring the UK's enduring appeal for legacy industrialists. The **U.S. sweeps five spots**, fueled by Bay Area tech unicorns and Miami's tax haven vibe. The remaining two? Emerging from UAE/Singapore hubs, but Hurun emphasizes non-Dubai/NY locales like Geneva for privacy-focused wealth managers. Overall, the U.S. leads globally with 48 NRI billionaires, but these top-tier cities concentrate the elite.
### Why These Cities? Beyond the Glitz
- **London (3/10)**: Tax treaties with India, global finance access, and cultural familiarity make it a no-brainer for families like the Hinduja and Mittals. It's home to 22 NRI billionaires total.
- **San Francisco/San Jose/Menlo Park (3/10)**: Silicon Valley's innovation magnet draws tech trailblazers like Chaudhry and Ullal, where venture funding flows like Silicon traffic. The Bay Area alone hosts 15+ NRIs.
- **Miami (1/10)**: Florida's zero state income tax lured Gangwal post-IndiGo, blending beaches with business.
- **Others (2/10)**: Geneva offers Swiss banking secrecy for resource barons; a UAE spot sneaks in for retail moguls, but Hurun spotlights diversity over desert allure.
This lineup reflects a 2025 trend: NRIs aren't just parking wealth – they're building it. Wealth rose for 79% of the 102 NRIs on the list, with tech (+25% average) outpacing traditional sectors. As Anas Rahman Junaid, Hurun India Founder, notes: "Indian entrepreneurs abroad are reshaping global industries, from cybersecurity to green steel."
### The Bigger Picture: India's Wealth Diaspora
The full Hurun list tallies 1,687 Indians worth Rs 1,000+ crore, with total wealth at Rs 167 lakh crore – up 12% YoY despite global headwinds. NRIs contribute 6% of that, but punch above their weight in influence. Mumbai (91 billionaires) tops Indian cities, but for expats, it's these seven that symbolize success on the world stage.
**Bottom Line**: Forget Dubai's yachts or New York's skyscrapers – the richest NRIs thrive in London's boardrooms and California's code labs. It's a testament to strategic migration: Where opportunity meets legacy. Which city surprises you most? Share in the comments!
*Data sourced from M3M Hurun India Rich List 2025; wealth in INR crore as of September 2025. For the full list, visit Hurun India.*
