New York City Retains Top Spot in Forbes’ Ranking of Cities with the Most Billionaires
For the fourth consecutive year, New York City has taken the top spot in Forbes’ annual ranking of cities with the most billionaires. The city is home to 123 super-rich individuals, a 13-person increase from the previous year, with a combined net worth of approximately $759 billion. Michael Bloomberg, the city’s former mayor, tops the list with an estimated net worth of $105 billion.
Moscow, the Russian capital, has climbed to the second spot, with 90 billionaires, a 16-person increase from last year. Eleven of the new billionaires have made it to the global list for the first time, while the remaining five have re-entered the list after a hiatus. The concentrated wealth in Moscow is estimated to be around $409 billion, a $31 billion increase from last year. Vagit Alekperov, an oil magnate, is reportedly the richest resident of Moscow, with an estimated net worth of $28.7 billion.
Hong Kong, which shared the second spot with Moscow last year, has dropped to third place, with 72 billionaires, a two-person decrease from the previous year and a combined net worth of approximately $309 billion.
The top ten cities with the most billionaires also include London, Beijing, Mumbai, Singapore, Shanghai, San Francisco and Los Angeles. Forbes reported that it was unable to identify the primary residence of 40 of the 3,028 billionaires on the list.