Country’s financial capital Mumbai has set his position in the top ten billionaire cities of the world. Forbes, the American business magazine has listed Mumbai at position seven in its survey available on the website of Forbes.

Mumbai comes in the list with an average net worth of 7.6 billion dollars ahead of San Francisco, Dallas and Tokyo.

The Russian capital city Moscow has bagged top position in terms of billionaire population housing the largest number of billionaires, as much as 74.

“Moscow knocked off New York from its perennial No 1 position since 2001,” the magazine said.

However when it comes to the degree of affluence, the Indian city of Mumbai transcends the Russian capital with an average wealth of around 7.6 billion dollars.

Moscow is home to as many as 74 billionaires with an average net worth of 5.9 billion dollar while Mumbai boasts of 20 billionaires, with an average worth of 7.6 billion dollar, as compared by Forbes.

Hong Kong, the most popular city for billionaires in Asia, is the home for 30 billionaires.

“Mumbai earns bragging rights as the city on our list with the richest billionaires,” the magazine added.

“Mumbai’s 20 billionaires, including two of the world’s 10 richest (brothers Mukesh and Anil Ambani), are worth an average 7.6 billion dollar, handily besting Moscow’s 5.9 billion dollar average,” the magazine added.

New York and London are home to 71 and 36 billionaires respectively. New York comes with an average net worth of 3.3 billion.

The other cities included in the list are Istanbul which boasts of 34 billionaires, Hong Kong with 30 and Los Angeles with 24 billionaires.

London homes 36 billionaires but interestingly 18 of them are citizens of other countries. New York City has just one foreign billionaire who claims residence there, and Moscow is home only to Russian billionaires.