Most billionaires around the world live in New York. The number was 144, an increase of nine cases from last year. Hong Kong is second, and Los Angeles is third. Billionaires increased their wealth by a total of 9% last year, according to the Billionaire Census report.
According to the latest Billionaire Census 2024 report prepared by Altrata, the number of people with assets worth at least $50 billion has increased by 4% compared to last year. – There are already 3,323 billionaires who have increased their wealth by a total of 9% during this period. The size of these assets is currently US$12.1 trillion.
Of all the cities, New York has seen the biggest increase in millionaire residents. Currently, 144 billionaires live there. This is an increase of 9 people from last year.
Hong Kong ranked second with 107 billionaires, but lost five in 2023. Next are San Francisco, with 87 wealthy residents, and London, with 78. The last two cities each gained three new billionaires. Rounding out the top five is Moscow, which has just one new billionaire and currently has 77.
Most billionaires live in New York. Chinese cities fall from rankings
“Most of the major cities where billionaires live have seen an increase in the number of their wealthiest residents, with New York and Los Angeles seeing the biggest increases.(…) China's economic problems are contributing to population decline. “The number of billionaires in all three of China's biggest wealth centers – Beijing, Shenzhen and Hangzhou – and Hong Kong,” Robb Report noted.
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He added that this allowed Los Angeles to overtake Beijing and move into sixth place. The western US city gained five new billionaires and now has 62 millionaires, but the Chinese capital has lost two members of its elite club, dropping to seventh place. Currently, 60 millionaires live there.
India had the highest proportion of new millionaires (15.9%). Currently, 304 of the world's richest people live there, 40 of whom live in Mumbai (formerly Bombay). Approximately 30% of the wealthiest people on earth are residents of only 15 cities.
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