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Charted: Which Country Has the Most Billionaires in 2024?
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Some cities seem to attract the rich. Take New York City for example, which has 340,000 high-net-worth residents with investable assets of more than $1 million.
But there’s a vast difference between being a millionaire and a billionaire. So where do the richest of them all live?
Using data from the Hurun Global Rich List 2024, we rank the top 20 cities with the highest number of billionaires in 2024.
A caveat to these rich lists: sources often vary on figures and exact rankings. For example, in last year’s reports, Forbes had New York as the city with the most billionaires, while Hurun Global Rich List placed Beijing at the top spot.
Ranked: Top 20 Cities with the Most Billionaires in 2024
The Chinese economy’s doldrums over the course of the past year have affected its ultra-wealthy residents in key cities.
Beijing, the city with the most billionaires in 2023, has not only ceded its spot to New York, but has dropped to #4, overtaken by London and Mumbai.
RankCityBillionairesRank Change YoY
1 New York119+1
2 London97+3
3 Mumbai92+4
4 Beijing91-3
5 Shanghai87-2
6 Shenzhen84-2
7 Hong Kong65-1
8 Moscow59No Change
9 New Delhi57+6
10 San Francisco52No Change
11 Bangkok49+2
12 Taipei45+2
13 Paris44-2
14 Hangzhou43-5
15 Singapore42New to Top 20
16 Guangzhou39-4
17T Jakarta37+1
17T Sao Paulo37No Change
19T Los Angeles31No Change
19T Seoul31-3
In fact all Chinese cities on the top 20 list have lost billionaires between 2023–24. Consequently, they’ve all lost ranking spots as well, with Hangzhou seeing the biggest slide (-5) in the top 20.
Where China lost, all other Asian cities—except Seoul—in the top 20 have gained ranks. Indian cities lead the way, with New Delhi (+6) and Mumbai (+3) having climbed the most.
At a country level, China and the U.S combine to make up half of the cities in the top 20. They are also home to about half of the world’s 3,200 billionaire population.
In other news of note: Hurun officially counts Taylor Swift as a billionaire, estimating her net worth at $1.2 billion.
The post Charted: Which City Has the Most Billionaires in 2024? appeared first on Visual Capitalist.