Tuesday, July 16, 2024

Beijing overtakes New York City as home to most billionaires, Mumbai behind London | Top 10 cities

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New York City lost its crown of being the home to most number of dollar billionaires to Beijing, according to the latest Forbes’ annual rich list released on Wednesday. While NYC added 7 new billionaires, Beijing added 33 billionaires as China quickly bounced back from the coronavirus disease (Covid-19) pandemic which has adversely impacted the global economy. A record number of new billionaires in Beijing took the Chinese capital from the fourth position to the first position.

Beijing now boasts of 100 dollar billionaires, one more than New York City which remains ahead of the Chinese capital in terms of the total net worth of the billionaires. As per the Forbes report, Beijing’s billionaires have a total net worth of around $484 billion while the billionaires of New York City have a total net worth of more than $560 billion, with NYC resident Michael Bloomberg being the richest individual among them.

New York City got sandwiched between two Chinese cities as Hong Kong, a former British colony, claimed the third position with 80 dollar billionaires, per Forbes. Other Chinese cities to make it to the top 10 cities of most numbers of billionaires are Shenzhen, Shanghai, and Hangzhou.Mumbai is the only Indian city to feature in the list with 48 dollar billionaires as it added 10 billionaires last year. Mukesh Ambani, chair of conglomerate Reliance Industries and now Asia’s richest man, doubled his net worth to nearly $85 billion, about one-third of Mumbai billionaires’ total wealth, according to Forbes. The list of top 10 cities with the most number of billionaires features five Chinese cities, two American cities, and one city each from India, Russia, and Britain.

Here’s the Forbes list of top 10 cities with most billionaires:

1. Beijing

2. New York City

3. Hong Kong

4. Moscow

5. Shenzhen

6. Shanghai

7. London

8. Mumbai

9. San Francisco10. Hangzhou


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