Most wealthy individuals prefer living in major cities. These urban hubs offer numerous investment opportunities and luxurious amenities. Here are the top cities with the highest number of billionaires today
New York
The largest city in the US remains the billionaire capital. Currently, New York boasts 110 billionaires with a combined wealth of nearly $700 billion, up by 9 from last year. Notable new residents include Jean Madar, co-founder of French perfume company Interparfums, and Assaf Rappaport, founder of the Israeli cloud startup Wiz. The richest New Yorker is still former mayor Michael Bloomberg, with a fortune exceeding $106 billion.
Moscow
This year, the Russian capital climbed from sixth to second place in the ranking of cities with the most billionaires. The total wealth of Moscow's billionaires has grown to nearly $380 billion, with the number of super-rich residents increasing to 74, 12 more than last year. The wealthiest Muscovite remains Vagit Alekperov, former president of the oil company Lukoil, with a personal fortune of over $28 billion.
Hong Kong
This Asian city-state shares the second spot with Moscow for the number of billionaires. Hong Kong is home to 74 billionaires with a combined wealth of $326 billion, eight more than last year. The richest resident is still Li Ka-shing, owner of the conglomerate Cheung Kong Group, with a fortune of over $37 billion.
Mumbai
The Indian metropolis jumped three spots to third place this year. Mumbai now has 69 billionaires, 11 more than last year, with a total wealth of nearly $380 billion. The city's wealthiest billionaire remains Mukesh Ambani, owner of Reliance Industries, with a personal fortune of $116 billion.
Beijing
China's capital, which led the ranking three years ago, has since lost 32 billionaires, dropping to fourth place. Beijing currently has 63 billionaires with a combined wealth of $211 billion. The richest resident is Zhang Yiming, founder of ByteDance, the company behind TikTok, with a fortune exceeding $43 billion.
London
The British capital is rounding out the top five. London is home to 62 billionaires with a total wealth of over $265 billion. The richest Londoner is Soviet-born Leonard Blavatnik, owner of the multinational industrial group Access Industries, which includes Warner Music. His personal fortune exceeds $32 billion.