Billionaire city: where do the world’s wealthiest live?

New research reveals the cities with the most billionaires.

New research has revealed that New York is home to more billionaires than any other city in the world – boasting 113.

The Big Apple is closely followed by European cities London and Moscow, with 82 and 70 billionaires respectively.

The new findings show that Asia dominates the list, with ten cities featured. Hong Kong comes in fourth place with 55 billionaires, while Beijing maintains fifth spot with 40 billionaires.

Commenting on the findings, Oliver Williams, Head of WealthInsight said: ‘Most billionaires live very transient lives, often darting between homes in several cities with a handful of passports. Such moves are prompted by profitable opportunities, both economic and social: Many relocate purely for the benefit of their children’s upbringing and education.

‘Some billionaires move for reasons against their choosing. Political uncertainty, arbitrary laws and poor business climates often force billionaires from one town to another. For these reasons, we have seen London overtake Moscow into second place for the first time since we started this ranking. Many oligarchs have swapped Moscow for London in recent years as sanctions have a deepening effect.’

2016 Rank	City	No. of Billionaires	Position change from last year
1	New York	113	0
2	London	83	2
3	Moscow	70	-1
4	Hong Kong	55	-1
5	Beijing	40	0
6	São Paulo	37	2
8	San Francisco	36	11
7	Los Angeles	35	7
9	Mumbai	31	-3
10	Istanbul	29	-3
11	Singapore	25	-2
11	Tokyo	25	0
13	Paris	22	-1
13	Shenzhen	22	2
15	Chicago	18	1
15	Jakarta	18	2
15	Taipei	18	-5
18	Houston	17	4
18	Seoul	17	-5
18	Shanghai	17	1
18	Washington DC	17	0