NYC Is Home to 79 Billionaires, More Than Any City in the World

All of the major news outlets were reporting last week that Beijing had overtaken New York City as the billionaire capital of the world, not at all hard to believe considering that in 2016, 70 new members to the World’s Billionaires List were Chinese, more than double the number of newly-added Americans. However, the original report from Chinese research firm Hurun has been disproven by research from Forbes. The new data shows that NYC is home to 79 billionaires, more than any other city in the world. This includes David Koch and Michael Bloomberg, two of the ten richest people in the world. The city’s billionaires’ total wealth amounts to a whopping $364.6 billion.

The Forbes list shows that Beijing is actually in fourth place, with 51 billionaires who have a combined net worth of $149.9 billion. The city did surpass London this year, however, where 47 billionaires reside. And Hong Kong, with its 68 billionaires, surpassed Moscow’s 60. In total, six of the cities on the top-ten list are in Asia. As Forbes explains, “More billionaires hail from the Asia-Pacific region than any other region of the world – 590 compared to 540 from the United States.” However, America still has twice as many billionaires as China (540 compared with 252), who have four times as much wealth ($2.4 trillion versus $594 billion).

Here’s the full list:

1. New York — 79 billionaires; $364.6 billion combined net worth
2. Hong Kong — 68; $261.3 billion
3. Moscow — 60; $217.6 billion
4. Beijing — 51; $149.9 billion
5. London — 47; $186.2 billion
6. Mumbai — 32; $115.1 billion
7. Shanghai — 31; $66.1 billion
8. Shenzhen — 30; $78 billion
9. Seoul — 29; $72.8 billion
10. San Francisco — 28; $74.5 billion

[Via Forbes]

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