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3 minutes read

Forbes’ List Of 10 Richest Cities In World With Most Billionaires

| Published on April 9, 2020

Forbes has recently released a list of top 10 richest cities in the world. So we bring you the winners ranked according to the maximum numbers of billionaires each city has.

10. Singapore

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The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. Singapore’s richest resident, Zhang Yong, is also China’s richest restaurateur — the owner of Sichuan hot pot chain Haidilao is $4.2 billion richer than he was in 2019, thanks to a 53% rise in the company’s stock over the past year.

No. of Billionaires: 31

Total Net Worth: $95.3 Billion

09. San Fransisco

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The city by the bay has five fewer billionaires than a year ago in part because fortunes fell below $1 billion for former Uber CEO Ryan Graves and Pinterest co-founder Ben Silbermann. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis.

No. of Billionaires: 37

Total Net Worth: $90.7 Billion

08. Mumbai

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Mumbai gained one billionaire residents since 2019, losing five billionaires but adding six newcomers. Those include Abhay Vakil, who heads India’s largest paint company, Asian Paints, and the Parekh brothers, who control adhesives and sealants maker Pidilite Industries. One dropoff is Rajan Raheja, a member of the city’s Raheja real estate clan, who was worth an estimated $2.3 billion last year.

No. of Billionaires: 38

Total Net Worth: $149.3 Billion

07. Shenzhen

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The manufacturing and export hub across from Hong Kong added five members to the three-comma-club in the last year, all of them self-made.

No. of Billionaires: 44

Total Net Worth: $220.2 Billion

06. Shanghai

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E-commerce has seen a boom in China since millions of citizens were locked down in an effort to slow the spread of the coronavirus in January, boosting the fortunes of online retail titans like Colin Huang.

No. of Billionaires: 46

Total Net Worth: $130.7 Billion

05. London

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No. of Billionaires: 56

Total Net Worth: $212.7 Billion

04. Beijing

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The Chinese capital’s tally of ten-figure-fortunes rose by six since last year to reach 67 billionaires. Two of those in Beijing are new billionaires this year: Larry Xiangdong Chen of GSX Techedu and Liu Yachao of TAL Education Group, both of whom own companies that provide online education and after-school tutoring for students.

No. of Billionaires: 67

Total Net Worth: $218.2 Billion

03. Moscow

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Moscow is the only other city among the top 10, besides Shenzhen, where every single billionaire is self-made (as opposed to inheriting a fortune); many have close ties to Russian President Vladimir Putin. More than 80% of Russia’s billionaires call its capital home, including mining mogul Vladimir Potanin, who is also the richest person in the nation.

No. of Billionaires: 70

Total Net Worth: $301.7 Billion

02. Hong Kong

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Hong Kong remains No. 2 on the list, but the city recorded a net loss of eight billionaire residents.

No. of Billionaires: 71

Total Net Worth: $321 Billion

01. New York

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New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019.

No. of Billionaires: 92

Total Net Worth: $424 Billion

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