May 29, 2024
Which cities in the world have the most billionaires in 2024? 

According to rankings compiled at the beginning of the year, the following cities lead in the number of billionaires:

New York (USA):
110 billionaires with a total net worth of $694 billion.
The wealthiest resident—Michael Bloomberg ($106 billion).
The ‘Big Apple’ has topped this list for 11 years in a row, except for 2021.
Among New York’s billionaires are 62 Wall Street magnates, as well as figures from the financial and investment sectors, 14 real estate tycoons, and a dozen moguls from the fashion and retail industries.

Moscow (Russia):
74 billionaires.
The wealthiest resident—Vagit Alekperov ($28.6 billion).
Moscow made an impressive leap from sixth to second place after the number of billionaires increased by 12.
The growth in the number of billionaires in the Russian capital is attributed to the economic recovery following the downturn in 2022. This includes the owner of Gloria Jeans, which benefited from the departure of foreign companies from the fast-fashion segment.

Sharing second place with Moscow is Hong Kong (China):
74 billionaires.
The wealthiest resident—Li Ka-Shing ($37.3 billion).
This year, Hong Kong saw an increase of four billionaires—newcomers to this ranking, such as Jean-Louis van der Velde, the CEO of Tether.

Mumbai (India):
66 billionaires.
The wealthiest resident—Mukesh Ambani ($116 billion).
Mumbai also made a significant jump, moving up from seventh place, adding 11 billionaires from the engineering and construction business.

Beijing (China):
63 billionaires.
The wealthiest resident—Zhang Yiming ($43.4 billion).
Beijing, which held the top spot in 2021, has dropped to fifth. The fall in the rankings is related to the country’s economic difficulties.

Other cities in the top ten include:

Los Angeles (USA).
San Francisco (USA).
Shanghai (China).
London (United Kingdom).
Abu Dhabi (UAE).

It is worth noting that the number of billionaires worldwide continues to grow. In 2024, the number of people with a net worth of over $1 billion reached a record 3,200. Almost a quarter of them (750 people) reside in just 10 megacities, and the list of cities with the most billionaires is constantly changing, reflecting shifts in the global economy.

The data on the number of billionaires in different cities may vary depending on the sources.

This information is based on data from Forbes, Hurun, and other authoritative rating agencies.