Top 10 cities with the most billionaires in the world
Last year, Beijing was the city with the most billionaires in the world. Now there's a new number one. New York City has reclaimed its crown.
With 107 billionaires and total assets exceeding $640 billion, Big Apple has more Samsung club members than any other city on earth. Rich wealth-and the turmoil in Asian markets in the past year-helped to end the short-lived rule of Beijing, and new york became the first billionaire city in six years in 2021.
With the rapid development of new york, Beijing and other China cities are trying to cope with the pressure from the China government on industries such as e-commerce and after-school education. Only Shanghai rose one place in the ranking, ranking fifth. Beijing fell to the second place, Shenzhen fell to the sixth place, and Hangzhou fell from the top 10 in 2021 to the tenth place. Since last year, the top ten cities in China have lost 29 billionaires and about $375.6 billion in assets. However, China has more cities in the top ten than any other country, beating the United States, second only to new york and San Francisco.
No city has fallen more than Moscow, which fell from the fourth billionaire in 2021 to the seventh this year. Severe international sanctions and market closures mean that by 2022, 34 Russians will be removed from the list of world billionaires; About three quarters of the people live in Moscow. The total wealth of billionaires living in the Russian capital is $214.9 billion, down from $420.6 billion last year. Ten years ago, Moscow was the city where billionaires lived the most.
Although the ranking has changed, the cities where billionaires choose to live are basically the same. The only new location on this year's list is Seoul, the capital of South Korea, which replaced the 10th place in Hangzhou. At 2. Of the 668 billionaires on this year's billionaire list, nearly a quarter live in only 10 places.
1. New York: 107 billionaires
Since last year: +8 Total net worth: $640.4 billion (+$79.9 billion compared to 2021) Richest resident: Michael Bloomberg, $82 billion New York has added 8 residents new billionaires in the past year, more than any other city on the list. Most are in the financial industry, including Thrive Capital founder Josh Kushner and private equity giant Ramzi Musallam. Other NYC newcomers include the first NFT billionaires identified by Forbes: Devin Finzer and Alex Atallah, co-founders of popular blockchain startup OpenSea. Despite increasingly fierce competition, media mogul Michael Bloomberg remains the richest resident, accounting for about 13% of the city's total billionaire wealth.
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2. Beijing: 83 billionaires
Since last year: -17 Total net worth: $310 billion (-$174.3 billion compared to 2021) Richest resident: Zhang Yiming, $50 billion Increased government scrutiny has opens up a world of pain for the Chinese capital's super-rich, who have shed $174.3 billion from their collective net worth since 2021. 17 missing billionaires include Kate Wang, founder of Chinese computing giant RLX Technology, and Will Wei Cheng, CEO of ride-hailing company Didi Global, whose assets fell below the three-comma threshold. A rare winner amid the chaos is Zhang Yiming, founder of ByteDance, owner of TikTok and Beijing's richest resident, who is $14.4 billion richer than last year.
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3. Hong Kong: 68 billionaires
Since last year: -12 Total net worth: $304.6 billion (-$143.8 billion compared to 2021) Richest resident: Lee Shau Kee, $32.6 billion Top 10 cities with the world's most billionaires in residence Another city with a significant drop in rates, Hong Kong has lost dozens of people amid a year of market volatility and strict Covid-19 curfew regulations. A stagnant tourism industry has knocked casino billionaires Ina Chan and Lawrence Ho, as well as hotel tycoon Zhao Tongtong, from the ranks of the city's super-rich. Hong Kong also lost two billionaires, Shing-bor Tang and Lee Man Tat, who died in 2021.
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4. London: 66 billionaires
Since last year: +3 Total net worth: $324.1 billion (+$8 billion compared to 2021) Richest resident: Len Blavatnik, $32.5 billion London rose to 4th place as loosen long-standing pandemic restrictions. Although the city's billionaire count only increased by three, the city actually welcomed six new three-comma club members, including the first Bulgarian and Estonian citizens ever named billionaires by Forbes. rich, all of whom have their main residence in London. Vlad Yatsenko, chief technology officer of digital banking giant Revolut, and Denis Sverdlow, founder of British e-vehicle maker Arrival, are other new billionaires living in London.
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5. Shanghai: 61 billionaires
Since last year: -3 Total net worth: $187 billion (-$72.6 billion compared to 2021) Richest resident: Liu Yongxing, $13.2 billion Shanghai lost fewer billionaires than other other Chinese cities but the proportion of super-rich residents remained steadily decreasing, from 64 to 61. Xu Yi and Chen Rui, chief executives of Chinese media giant Bilibili, and Tony Zhao, CEO of the platform video and media Agora is among the Shanghai-based billionaires who fell to the millionaire ranks. Bucking the trend, Shanghai's richest man, Liu Yongxing, chairman of agricultural and chemical company East Hope Group, doubled his wealth to an estimated $13.2 billion.
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6. Shenzhen: 59 billionaires
Since last year: -9 Total net worth: $286.6 billion (-$128.7 billion compared to 2021) Richest resident: Ma Huateng, $37.2 billion A hub for Self-made billionaire, “China's Silicon Valley” fell to 6th place after losing 9 resident billionaires in the past year. Three of them were investors in vaping company Smoore International, whose market share plummeted 64% as the Chinese government threatened to crack down on e-cigarettes. Shenzhen's richest man, Tencent Chairman and CEO Ma Huateng, was also affected. The internet media mogul's assets have decreased by more than $28 billion since 2021.
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7. Moscow: 53 billionaires
Since last year: -26 Total net worth: $214.9 billion (-$205.7 billion compared to 2021) Richest resident: Vladimir Lisin, $18.4 billion Moscow loses more billionaires any city on the list amid the fallout from Russia's invasion of Ukraine. In fact, all but two billionaires living in the Russian capital were worse off than the previous year. Vladimir Lisin, chairman of steel products manufacturer NLMK Group and the richest man in Moscow, has reduced his personal wealth by about $8 billion. Another 26 people missed the billionaires list altogether, including Oleg Tinkov, founder of digital bank Tinkoff; the sanctioned billionaires are Andrei Molchanov and Dmitry Pumpyanskiy; and Arkady Volozh, founder of Yandex, the platform equivalent to search engines like Google and Yahoo.
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8. Mumbai: 51 billionaires
Since last year: +3 Total net worth: $301.3 billion (+$36.3 billion compared to 2021) Richest resident: Mukesh Ambani, $90.7 billion Indian capital holds the position 8th place with a net increase of 3 billionaires compared to last year. Balancing the three eliminations, Mumbai has actually welcomed six new billionaires in the past year, including Falguni Nayar, who became India's richest self-made woman, with an estimated net worth of 4.5 billion USD, after successfully listing her fashion and beauty retailer Nykaa last November. The city's richest resident, Reliance Industries Chairman Mukesh Ambani, alone accounts for more than 30% of the collective net worth of Mumbai's billionaires.
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9. San Francisco: 44 billionaires
Since last year: -4 Total net worth: $160.8 billion (-$29.2 billion from 2021) Richest residents: Brian Chesky and Dustin Moskovitz, $11.5 billion Dropped out At No. 8, San Francisco is home to four fewer billionaires than last year. The city actually welcomed a new crop of super-rich entrepreneurs, such as Grammarly co-founder Max Lytvyn; and Henrique Dubugras and Pedro Franceschi, the 26- and 25-year-old co-founders (respectively) of fintech startup Brex. But the fortunes of others, such as Affirm co-founder Max Levchin, RingCentral Vlad Shmunis and Skillz CEO Andrew Paradise — each of whom fell off the Forbes list — left the city with a net decrease in the number of billionaires. .
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10. Seoul: 38 billionaires
Since last year: +4 Total net worth: $108.3 billion (- $13.8 billion from 2021) Richest residents: Kim Beom-su and Jay Y. Lee, 9.1 billion USD South Korea's capital returns to the list for the first time since 2019. Seoul's three new billionaires (the fourth is a returnee) are all self-made: Covid-19 testing entrepreneur Cho Young- sik, fintech startup founder Lee Seung-Gun and gaming tycoon Park Kwan-ho. Listed among the city's richest residents are Kim Beom-su, founder of Kako, South Korea's largest messaging app, and Jay Y. Lee, vice chairman of Samsung Electronics, each with an estimated worth 9.1 billion USD.
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