The US business magazine Forbes had to remove 58 billionaires from its billionaires list compared to the previous year. The wealth of the world’s richest people has also decreased by almost a tenth – around $ 700 billion – to $ 8 trillion compared to the previous year.
In the ten favorite metropolises of the super-rich, however, the decline should hardly be noticed. Because many of them – although only a few – have newcomers. Meanwhile, more than a quarter of all billionaires – and thus more than a quarter of the total wealth of all billionaires worldwide – are concentrated in ten cities. The first four in the Forbes ranking of cities with the most billionaires recorded 228 super-rich.
While a large part of the metropolises had been one of the favorite places of residence of the richest in the world in previous years, the current ranking also includes a newcomer. The Korean capital Seoul, which was recently in ninth place, has to leave the ranking this year. It has counted ten billionaires less than last year. These cities, on the other hand, attract a particularly large number of super-rich people:
Most of the billionaires live in these ten cities
# 10 Singapore
The city-state is home to 31 super-rich countries, which places it in the ranking of cities with the most billionaires. Together, the super rich of Singapore own a fortune of $ 95.3 billion. The richest inhabitant is Zhang Yong, the owner of the Haidilao restaurant chain. According to Forbes, Haidilao shares gained 53 percent in value last year. Zhang Yong’s net worth has thus increased by $ 4.2 billion and is currently at $ 11 billion.
# 9 San Francisco
37 of the richest people in the world live in San Francisco. This means that the Californian metropolis counts five super-rich people less than in 2019. The remaining billionaires together have assets of $ 90.7 billion. Almost a tenth of the wealth falls to IT entrepreneur Dustin Moskovitz. Moskovitz is a Facebook co-founder and still holds 2.3 percent of the shares.
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# 8 Mumbai
Mumbai also lost five billionaires compared to the previous year, but gained six newcomers. These include Abhay Vakil, who heads the largest Indian paint manufacturer Asian Paints, and Madhukar Parekh, CEO of the adhesives and sealants manufacturer Pidilite. The Indian capital has 38 billionaires with total assets of $ 149.3 billion. The richest of them is Reliance CEO Mukesh Ambani, who recently had assets of $ 52.7 billion. This makes Ambani the richest man in Asia.
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# 7 Shenzhen
Shenzhen has been particularly popular recently among self-made billionaires. All five of the new super-rich in the Chinese metropolis owe their fortunes to their own hard work. Shenzhen will have 44 billionaires in 2020 with assets of $ 220.2 billion. The trade war between China and the United States has also hit China’s billionaires. The richest residents of Shenzhen were still able to increase their wealth by $ 29.7 billion. The richest of them is Tencent CEO Ma Huateng, with assets of $ 38.1 billion.
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# 6 Shanghai
At $ 130.7 billion, the super-rich of Shanghai would be significantly behind Shenzhen and Mumbai when it comes to their total wealth. Nevertheless, the Chinese metropolis has significantly more billionaires than the other two cities – 46 in total. Pinduoduo CEO Colin Huang is one of them, with assets of currently $ 35.6 billion. Due to the success of his e-commerce platform during the lockdown in China, his fortune has more than doubled since March 23 – by $ 17.9 billion.
# 5 London
The Brexit on January 31 has barely shaken Britain’s super-rich, and a billionaire has even come to the UK. The 56 billionaires now have assets of $ 212.7 billion. The richest of them is Len Blavatnik, with net worth of $ 17 billion. In 2011 Blavatnik took over one of the largest music labels worldwide, the Warner Music Group. In 2020, he successfully returned the label to the stock exchange.
# 4 Beijing
67 billionaires live in China’s capital Beijing. Your net worth: $ 218.2 billion. Compared to 2019, the metropolis has gained six super rich people. New additions include GSX-Techedu founder and CEO Larry Xiangdong and Liu Yachao, COO of the Tal Education Group. Both companies rely on digital educational offerings. The leader among Beijing’s billionaires is Zhang Yiming, the head of the software company Bytedance, which also includes the Tiktok app. His net worth is $ 16.2 billion.
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# 3 Moscow
80 percent of Russian billionaires live in Moscow. In numbers, that’s 70 billionaires with total assets of $ 301.7 billion. Similar to Shenzhen, most super-rich are self-made billionaires. However, many are well connected and, according to Forbes, maintain good relations with Russian President Vladimir Putin. Moscow’s richest is mining mogul Vladimir Potanin, who has assets of $ 19.7 billion.
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# 2 Hong Kong
Many of the billionaires in Hong Kong have built their fortunes in the real estate business. The fall in property prices has therefore also made itself felt in the ranks of the super rich. In 2020, the metropolis will count eight billionaires less. A total of 71 super-rich live in Hong Kong, with total assets of $ 321 billion. Hong Kong’s richest resident is real estate tycoon Lee Shau Kee, with assets of $ 28.1 billion. He is the founder of Henderson Land Development and co-founder of Sun Hung Kai – both are real estate companies.
# 1 New York
Most billionaires settle in New York. For the sixth time in a row, the US metropolis is number one in the Forbes Ranking. Since 2019, eight other super-rich have moved to New York – including rapper Jay-Z. The city has around 92 billionaires with total assets of $ 424 billion. New York’s richest citizen is media mogul and ex-mayor Michael Bloomberg, with assets of $ 48 billion.