The ranking of the 10 richest cities and countries in the world has crowned Asia with some surprises. Where do billionaires live globally?
Where do the richest billionaires in the world live?
The ranking of cities and states that boast the presence of a larger number of rich people has been updated by the Hurun Research Institute, which has revealed a twist. The first Asian city for the number of billionaires is not China, but India, demonstrating how the balance of power in the region is changing.
There are currently 3,279 billionaires globally, a 5% increase from 2023, the report shows. According to the country ranking, China still tops the list with 814 billionaires, although the country has lost 155 billionaires compared to a year ago. The United States came second with 800 billionaires while India came third with 271.
The 10 cities with the most billionaires in the world
Mumbai is now the Asian city with the most billionaires, according to the Hurun Research Institute’s global rich list.
This is the first time that India’s most populous city has achieved primacy in Asia.
At the top of the global ranking of the cities with the richest in 2024 is New York (119), followed by London (97). In Asia, Mumbai – India’s financial capital – went ahead with 92 billionaires, according to Hurun. Beijing (91) and Shanghai (87) follow closely behind.
These are the 10 cities with the most billionaires globally:
- New York (USA) - 119
- London (UK) - 97
- Mumbai (India) - 92
- Beijing (China) - 91
- Shanghai (China) - 87
- Shenzhen (China) - 84
- Hong Kong (China) - 65
- Moscow (Russia) - 59
- New Delhi (57)
- San Francisco (USA) - 52
Asia dominates the list, with only London and Moscow representing Europe.
The 10 countries with the most billionaires in the world
At the level of nations, China continues to dominate the rest of the world in terms of the number of billionaires, even if it has lost momentum towards the US which follows in second place. In detail, these are the 10 countries with the most billionaires:
- China - 814
- United States of America - 800
- India - 271
- United Kingdom - 146
- Germany - 140
- Switzerland - 106
- Russia - 76
- Italy - 69
- France - 68
- Brazil - 64
China’s Zhong Shanshan, founder and chairman of bottled water giant Nongfu Spring, has retained his place as China’s richest person. Colin Huang, founder of e-commerce player Pinduoduo, leapfrogged Tencent CEO Ma Huateng to take second place this year.
According to Hurun, the United States – which added 109 billionaires in 2023 – has only 14 fewer billionaires than China.
The report lists artificial intelligence as a significant factor in the rise of ultra-wealthy people in the United States.
“While Nvidia CEO Jensen Huang grabbed a lot of headlines when Nvidia surpassed the $2 trillion mark, subsequently catapulting it into the Hurun Top 30, billionaires tied to Microsoft, Google, Amazon, Oracle, and Meta have seen significant surges in their wealth as investors bet on the value generated by artificial intelligence”, the report said.
The Bloomberg Billionaires Index showed that Amazon founder Jeff Bezos and Tesla CEO Elon Musk are the top two billionaires in the United States with a net worth of 201 respectively billion dollars and 190 billion dollars.
Taylor Swift joined Hurun Research’s list with a net worth of $1.2 billion after starting her Eras Tour in March and performing in the United States, South America, Australia, Singapore, and Tokyo.
After the United States, India ranks second in terms of new entries, with 84 more members on the ultra-rich list.
The South Asian nation is now the world’s fastest-growing economy after its GDP grew 8.4% in the October-December period.
In December, the Indian stock market surpassed that of Hong Kong to become the seventh largest in the world, and is now valued at more than $4 trillion, Refinitiv data shows.
The Indian chairman of Reliance Industries, Mukesh Ambani, continues to be the richest person in Asia and the 11th in the world, with a total net worth of $110 billion, according to the Bloomberg index.
Original article published on Money.it Italy 2024-03-27 15:18:49. Original title: 10 città e Paesi con più miliardari al mondo
