OMG: Hyderabad has 510 multi millionaires

One more feather in the cap of Hyderabad, capital city of Telangana that it is also a super rich city with 510 multi millionaires.It has been tagged as one of seven Indian prime cities among the 20 best cities of Asia Pacific, for super rich. Ironically the number of super rich increased from 60 to 510 in just one decade from 2004-2014.

Hyderabad is among seven Indian prime cities, on par with Mumbai and political hub Delhi besides Pune, Bangalore, Chennai and Kolkata are the other Indian cities in the list of 20 cities in Asia Pacific (APAC) for the decade that ended December 2014, said the report by New World Wealth.

Ho Chi Minh City in Vietnam topped the list of the multi millionaires. An individual with net assets of USD 1 million or more, whilst a multi-millionaire is an individual with net assets of at least USD 10 million, says the report of the NEW World Wealth in its article- Fastest growing cities for the super-rich. They include not only the GVK, GMR and Dr Reddy's, but also Pulla Reddy and oil and biscuit man from old city as well-Khaitans.

Pune saw the fastest growth in terms of number of super-rich people which increased from 60 in December 2004 to 250 in December 2014, a jump of 317 per cent. After Pune, Mumbai witnessed the sharpest rise in number of multi-millionaires. As of December 2014, it was home to 2,690 multi-millionaires. During the period, the number of multi-millionaires in Hyderabad increased from 160 to 510. In Bangalore the number increased from 140 to 440, Delhi (430 to 1,350), Chennai (130 to 390), Kolkata (210 to 570).