A prominent business magazine, Forbes, has unveiled its 2024 list spotlighting the cities with the highest concentration of billionaires worldwide.
Despite the global count of 2,781 billionaires in 2024, only a select few reside in top-tier and prestigious urban centers.
As per a Forbes report dated April 26, 2024, approximately a quarter of the world’s billionaires, collectively valued at $3 trillion, reside in just ten cities across six countries, according to the latest iteration of the World’s Billionaires list.
Leading the list is New York City, boasting the highest number of billionaires globally, with a collective net worth of $694 billion. Among these, 62 are associated with Wall Street and other financial and investment firms, while 14 are involved in real estate, and many others are active in the fashion and retail sectors.
Tied for second place are Hong Kong and Moscow, each hosting 74 billionaires. Additionally, Mumbai has surged from seventh to fourth place, with an increase of 13 billionaires since 2023, as reported by Forbes.
See the full list below compiled by Forbes:
1. New York City
Total billionaires: 110
Since last year: +9
Total net worth: $694 billion
Richest resident: Michael Bloomberg ($106 billion)
2. (tie) Moscow
Total billionaires: 74
Since last year: +12
Total net worth: $378 billion
Richest resident: Vagit Alekperov ($28.6 billion)
2. (tie) Hong Kong
Total billionaires: 74
Since last year: +4
Total net worth: $326 billion
Richest resident: Li Ka-shing ($37.3 billion)
4. Mumbai
Total billionaires: 69
Since last year: +13
Total net worth: $379 billion
Richest resident: Mukesh Ambani ($116 billion)
5. Beijing
Total billionaires: 63
Since last year: flat
Total net worth: $211 billion
Richest resident: Zhang Yiming ($43.4 billion)
6. London
Total billionaires: 62
Since last year: -1
Total net worth: $326 billion
Richest resident: Len Blavatnik ($32.1 billion)
7. Shanghai
Total billionaires: 54
Since last year: -11
Total net worth: $167 billion
Richest resident: Colin Huang ($38.9 billion)
8. Los Angeles
Total billionaires: 53
Since last year: +19
Total net worth: $222 billion
Richest resident: John Tu ($13.6 billion)
9. Singapore
Total billionaires: 52
Since last year: +6
Total net worth: $156 billion
Richest resident: Eduardo Saverin ($28 billion)
10. San Francisco
Total billionaires: 50
Since last year: +13
Total net worth: $185 billion
Richest resident: Dustin Moskovitz ($18.3 billion)