Support the Wall Street Examiner! Choose your level of support to receive a free proprietary report as my thanks. Click the button below to see your options. Become a Patron!

Beijing Displaces New York To Become The Billionaire Capital

This is a syndicated repost courtesy of Statista | Infographics. To view original, click here. Reposted with permission.

For the first time in seven years, New York City has lost its title as the world’s billionaire capital. In 2020, the Big Apple was displaced by Beijing which recorded a net gain of 33 billionaires. Beijing is now in top spot with 100 individuals worth a billion dollars or more, narrowly ahead of New York’s 99.

The findings come from the 2021 Forbes World’s Billionaires list which shows that a quarter of its 2,755 members live in just 10 cities with more than 10 percent resident in just four Chinese metropolises. Along with Beijing, Shanghai, Shenzhen and Hangzhou also make the list of the world’s top-10 billionaire capitals. Hong Kong, a special administrative region of China, is also present on the list and it comes third with 80 billionaires.

Even though New York is in second place, the collective worth of its billionaire population amounts to $560.5 billion, beating Beijing’s collective $484.3 billion. Zhang Yiming is the richest resident in the Chinese capital with a net worth of $35.6 billion while Michael Bloomberg is New York’s wealthiest inhabitant with a $59 billion fortune.

This chart shows the number of billionaires living in cities in 2020.

The Cities With The Most Billionaires

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.