While New York remains the world’s capital for billionaires, WealthInsight finds that three Chinese cities are now listed in the top 10 cities with the largest population of billionaires, with only two US cities making the cut
New York still the global capital for billionaires
China is the country with the most billionaire cities in the top 10
Europe has the most billionaire cities in the top 10
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While New York remains the world’s capital for billionaires, WealthInsight finds that three Chinese cities are now listed in the top 10 cities with the largest population of billionaires, with only two US cities making the cut. With Moscow, London and Paris all in the rankings, Europe also has more cities with large numbers of billionaires in the top 10 than the US. In fifth place, Mumbai is poised to continue rising the ranks. The large number of billionaires in Istanbul, which ranks sixth place, underscores Turkey’s growing economic clout. Interestingly, no cities in oil-rich countries made the list.
Top ten cities by number of billionaires, from WealthInsight HNWI database
1. New York
2. Moscow
3. London
4. Hong Kong
5. Mumbai
6. Istanbul
7. San Francisco
8. Shanghai
9. Paris
10. Beijing
“This time next year there could be four Chinese cities appearing in the top 10 and only two European cities, as Shenzhen is likely to replace Paris,” said Ollie Williams, Research Manager of WealthInsight’s HNWI Database.
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These figures are taken from WealthInsight ‘s HNWI Database (high-net-worth individuals (HNWIs) – those with a net worth greater than US$1 million) which currently counts 1340 billionaires worldwide, with an average wealth of US$3.27 billion and a combined wealth totalling US$4.37 trillion.
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