There are 2,095 billionaires on the planet, according to the latest list of World Billionaires published by Forbes magazine. Forbes points out that some 552 of these billionaires live in just ten cities. So, which city has the highest number of billionaires?
According to Forbes data, billionaire Jeff Bezos remains the world’s richest man this year with a net worth of $ 113 billion. He is followed by Bill Gates, the founder of Microsoft, with assets of approximately $ 98 billion. Both Bezos and Gates live in the Greater Seattle area. However this city does not get a place among the top ten cities with the most billionaires. However, eight of the ten richest people on the planet are from the United States.
As many as three cities in China are in the top ten. Beijing and Shanghai retained their respective places from last year, while the city of Shenzhen moved up one spot to 7th place. Here is a list of cities with the highest number of billionaire residents.
1. New York (92 People)
New York City is home to 92 billionaires worldwide. The city, nicknamed “The Big Apple”, has produced eight new billionaires since last year. New York billionaires’ combined net worth is $ 424 billion. Michael Bloomberg, the media giant and former Mayor, is the richest man in New York City with a net worth of approximately $ 48 billion. He once spent nearly a billion dollars on a failed Presidential campaign before dropping out of office.
2. Hong Kong (71 Pax)
Hong Kong maintains its position as the city with the second most billionaires. It is home to 71 billionaires with a combined net worth of $ 321 billion. Hong Kong has lost eight billionaires since last year due to falling property prices. This area is a semi-autonomous, Special Administrative Region (SAR) of China. Real estate mogul Lee Shau Kee is the richest man in Hong Kong with a net worth of $ 28.1 billion.
3.Moscow (70 people)
The Russian economy is not at its best. US economic sanctions coupled with falling oil prices and the Corona virus have cost Russia and its billionaires. Moscow is still home to 70 billionaires, down from 71 last year. Every billionaire in Moscow has his own business. And most of them have close ties to President Vladimir Putin. The combined net worth of Moscow billionaires is $ 301.7 billion. Mining businessman Vladimir Potanin is the richest man with a net worth of $ 19.7 billion.
4. Beijing (67 Pax)
Beijing added six new billionaires this year. According to Forbes data, the combined net worth of 67 billionaires in Beijing is approximately $ 218.2 billion. ByteDance founder and CEO, Zhang Yiming is Beijing’s richest man with a net worth of $ 16.2 billion. For those who don’t know, ByteDance is a company that owns various popular applications, such as TikTok and Toutiao.
5. London (56 People)
London is the leading financial center in the world, and is home to 56 billionaires. Brexit aside, the city has an additional one billionaire, compared to last year. Access Industries’ Len Blavatnik is London’s richest man with a net worth of $ 17 billion. Blavatnik is just one of many international billionaires who have made London their home.
6. Shanghai (46 Pax)
Shanghai has more billionaires than the city of Shenzhen. But the billionaires’ combined net worth in Shanghai is $ 130.7 billion, much lower than Shenzhen’s $ 220.2 billion. Pinduoduo Chairman and CEO Colin Huang is the richest man in Shanghai with a net worth of $ 16.5 billion. Shanghai billionaires, especially those who run online businesses, saw strong growth in their wealth as China locked down millions of its citizens to contain the spread of COVID-19.
7. Shenzhen (44 people)
Shenzhen City is one of China’s largest manufacturing and export centers. It is home to 44 billionaires, up from 39 last year. Their combined net worth is $ 220.2 billion. Tencent Holdings chairman and CEO, Ma Huateng is the richest individual in Shenzhen with a net worth of $ 38.1 billion. Huateng is the second richest person in China after Jack Ma from Alibaba.
8. Mumbai (38 Pax)
Mumbai is the financial capital of India. There are 38 billionaires in the city, with a combined fortune of $ 149.3 billion. The chairman of Reliance Industries, Mukesh Ambani is Mumbai’s richest man with a net worth of $ 36.8 billion. The city has lost five billionaires since last year, but added six new arrivals.
9. San Francisco (37 People)
The city that is known as the “world’s technology hub” is home to 37 billionaires, down from 42 last year. Their total net worth is $ 90.7 billion. Facebook co-founder Dustin Moskovitz is the richest person living in San Francisco. He has a net worth of $ 9.3 billion. Facebook CEO Mark Zuckerberg has a much higher net worth of $ 57.3 billion, but he lives outside of San Francisco in Palo Alto.
10.Singapore (31 Pax)
Singapore is one of the richest and largest financial centers in the world. The total number of billionaires in the island city jumped from 22 to 31. Singapore billionaires’ combined net worth is $ 95.3 billion. Zhang Yong, chairman of the Sichuan Haidilao hot pot network, is the richest man with a net worth of around $ 11 billion.