Beijing Overtakes NYC As the City With the Most Billionaires
May 5, 2021
Last year saw 493 newly minted billionaires, bringing the total number to 2,755. Nearly a quarter of them live in just 10 cities, and, for the first time in seven years, New York City no longer has the highest number of billionaire residents. Beijing has overtaken the Big Apple, adding 33 new billionaires, raising its total to 100, narrowly topping New York’s 99.
Visual Capitalists has created an infographic showing the rest of the top 10, as well as each city’s wealthiest individual.
As you can see, half of the top 10 are in China, which saw its billionaire population boom. Four Chinese cities, Beijing, Hangzhou, Shanghai, and Shenzen, added 96 new billionaires between them. The only city aside from these four to add more than 10 billionaires was San Francisco.
While the United States still holds the most billionaires with 724, China is catching up quickly with 698.