The latest Forbes World’s Billionaires list reveals that just ten cities are home to nearly a quarter of the world’s billionaires, with a total combined wealth of $3 trillion. New York City tops the list with 110 billionaires worth a collective $694 billion, including notable figures like Michael Bloomberg and Julia Koch. Hong Kong and Moscow tie for second place with 74 billionaires each, seeing an increase in billionaire residents compared to the previous year.
Mumbai made a significant jump to fourth place, adding 13 more billionaires and climbing up the ranks. Beijing, on the other hand, saw a decrease in the number of billionaires, dropping from the top spot in 2021 to fifth place with 63 billionaires. London, Shanghai, Los Angeles, Singapore, and San Francisco also made it to the top ten cities with the most billionaires, showcasing the global distribution of extreme wealth.
Despite economic struggles in certain regions, cities like Moscow and Mumbai have seen a rise in billionaire residents and total net worth. Shanghai, however, experienced a decline in the number of billionaires, with some individuals seeing a decrease in wealth compared to the previous year. Los Angeles saw a significant increase in billionaire residents, thanks to the inclusion of surrounding areas in Forbes’ methodology.
Singapore continues to be a popular city for the ultra-wealthy, gaining a net of six billionaires and moving up in the rankings. San Francisco, known for its connections to Silicon Valley, also saw an increase in billionaire residents, with notable figures like Dustin Moskovitz leading the pack. Overall, the distribution and concentration of billionaires in elite cities around the world highlight the disparities in global wealth and economic opportunities.
