There are 2,668 billionaires in the world this year. Almost a quarter of them live in 10 cities. New York has more billionaires than any other city in the world. Beijing which has lost 17 billionaires over the past year had the highest number of billionaires in 2021. Seoul which also features on this list is home to 38 of South Korea’s 41 billionaires. This article lists the 10 cities with the most billionaires in the world.
1. New York City 107 billionaires
This year, New York City has eight more billionaires compared to last year, making it the city with the most billionaires. According to Forbes, all the 107 billionaires in the city have a combined wealth of about $640.4 billion. The richest resident is Michael Bloomberg — former mayor and the founder of financial and software company Bloomberg L.P — who has a net worth of $82 billion. Julia Koch is the city’s second-wealthiest resident with a fortune of $60 billion. NFT billionaires Alex Atallah and Devin Finzer are some of the 8 new billionaires in the city.
2. Beijing 83 billionaires
The city has fallen to second place after losing 17 billionaires over the past year — including Will Wei Cheng, the founder of DiDi, a ride-hailing company, and Kate Wang the founder of e-cigarettes company RLX Technology. Zhang Yiming, who owns Tik Tok is the richest billionaire in the city with a fortune of $50 billion which accounts for about 16% of the total wealth of the city’s 83 billionaires. Zhang is the second richest individual in China. All the billionaires in Beijing have a combined net worth of $310 billion.
3. Hong Kong 68 billionaires
Hong Kong is one of the cities with the most billionaires in the world. However, the city has seen 12 of its residents fall from the thee-comma club in the last year. Some of them include two billionaires Lee Man Tat and Shing-bor Tang who died in 2021 as well as Lawrence Ho, Ina Chan, and Zhao Tongtong whose businesses were affected by the Covid-19 pandemic. The 68 billionaires in the city have a combined fortune of $304.6 billion with the richest of them being Lee Shau Kee, a real estate tycoon who has a net worth of $32.6 billion.
4. London 66 billionaires
Like New York City, London has also seen an increase in its number of billionaires since 2021. Last year with 63 billionaires, the city was ranked 7th on this list. Two of these new billionaires in London are Dennis Sverdlow, founder of Arrival, a manufacturer of electronic vehicles, and Vlad Yatsenko, the CTO of Revolut, a digital banking company. Len Blavatnik, owner of Warner Music Group is the city’s richest resident with a fortune of $32.5 billion. Real estate investors and brothers David and Simon Reuben are the second richest billionaires in London, each with a fortune of $7 billion.
5. Shanghai 61 billionaires
Shanghai follows closely with 61 billionaires who have a total net worth of $187 billion. The city lost three billionaires – Tony Zhao the chief executive officer of Agora, an online video and communication platform, Chen Rui and Xu Yi founders of the video-sharing website Bilibili. Liu Yongxing is the city’s wealthiest billionaire. He’s the founder and CEO of the Chinese agribusiness company East Hoe Group.
6. Shenzhen 59 billionaires
Shenzhen is one of the major cities in China and is one of the 10 cities in the world with the most billionaires. However, the city has seen a drop in the number of its billionaires with 9 residents falling off the billionaires club this year. According to Forbes, three of these billionaires were investors in the e-cigarettes company Smoore International whose share value plunged more than 60% amid the threat of a crackdown on electronic cigarettes by the Chinese government. Ma Huateng the founder of Tencent, one of the world’s largest internet and technology companies is the city’s wealthiest billionaire with a fortune of $37.2 billion.
7. Moscow 53 billionaires
According to Forbes Moscow has lost 26 billionaires since 2021, the highest number of any other city. The invasion of Ukraine by Vladimir Putin is mostly to blame for the woes of these billionaires. Last year the Russian capital had 79 billionaires and was placed 4th on this list. Arkady Volozh, the founder of Yandex is one of the people whose wealth has shrunk below the billion mark. Real estate tycoon Andrei Molchanov is also one of the billionaires who has been sanctioned and has seen his fortune drop to less than a billion. Vladimir Lisin, the city’s wealthiest billionaire has lost $8 billion and now has a net worth of $18.4 billion.
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8. Mumbai 51 billionaires
India’s second-most populous city has 51 billionaires with a combined net worth of $301.3 billion. The city has three new billionaires this year including Falguni Nayar who’s now the richest self-made woman in India with an estimated fortune of $4.5 billion. Mukesh Ambani is Mumbai’s richest resident with a fortune that accounts for about 30% of the total wealth of the 51 billionaires in the city.
9. San Francisco 44 billionaires
Although San Francisco has lost four billionaires this year, it still remains one of the 10 cities in the world with the most billionaires. The city also welcomed several members to the three-comma club including Max Lytvyn, Grammarly’s co-founder, Pedro Franceschi, the cofounder of Brex, a fintech startup and Max Levchin the co-founder of Affirm, a San Francisco-based fintech company. Brian Chesky, co-founder of Airbnb, and Dustin Moskovitz, cofounder of Facebook have a net worth of $11.5 billion each and are the city’s richest residents. The 44 billionaires in Francisco have a combined net worth of $160.8 billion.
10. Seoul 38 billionaires
The largest city in South Korea is home to 38 billionaires including four newcomers. Jay Y. Lee, the vice-chairman of Samsung, and Kim Beom-su the founder of South Korea’s biggest messaging app, Kako are jointly the city’s two wealthiest individuals with a net worth of $9.1 billion each. All the billionaires in the city have a combined net worth of $108.3 billion. Some of the new billionaires in the city include Lee Seung-Gun, Cho Young-sik, and Park Kwan-ho. LG electronics chairman and CEO, Koo Kwang-mo and Chung Mong-joon, son of Hyundai Group founder are among the city’s other billionaires.