The top 15 cities with the most billionaires, ranked

Drazen_/Getty ImagesLondon has the fifth highest concentration of billionaires.

Billionaires are increasingly becoming concentrated in a cluster of cities, according to Wealth-X’s 2019 Billionaire Census report. The report analysed data from Wealth-X’s global database of more than one million records of the world’s richest people.

According to its findings, nearly 30% of the world’s billionaire population as of 2018 is concentrated in the 15 cities outlined below. The report also looked at how these billionaire populations grew or shrank compared to the previous year. Both country and city dynamics influenced wealth accumulation, according to the report.

Strong tech sectors are responsible for wealth accumulation in several cities, from San Francisco to Hangzhou and Shenzhen in China. A large share of the world’s billionaire population reside in eastern Asia – six Eastern Asian cities made the list. However, billionaires in many of those cities were impacted by negative stock market movements, according to the report.

Note that the number of billionaires gained or lost marks the increase or decrease in each city’s billionaire population from 2017 to 2018.


15. Tokyo has the largest share of its country’s billionaire population out of all the leading cities.

f11photo/Shutterstock

Country: Japan

Number of billionaires: 29

Number of billionaires gained or lost: -1

In Japan, 81% of the country’s billionaires – four out of five – live in Tokyo.


14. Hangzhou was impacted by negative stock market movements.

rongyiquan/Shutterstock

Country: China

Number of billionaires: 31

Number of billionaires gained or lost: -1

Growth in the innovation and technology industry has increased Hangzhou‘s high-net-worth population by 25% in the past five years, according to Knight Frank’s “Wealth Report.” There are now 26 unicorns – tech companies valued at $US1 billion or more – in the city.


13. Istanbul saw a decrease in billionaires because of currency depreciation against the US dollar and negative equity prices.

Country: Turkey

Number of billionaires: 32

Number of billionaires gained or lost: -4

Istanbul‘s most expensive districts are Besiktas and Sariyer. The luxury lifestyle in the city involves going out and attending after parties in hotel penthouses, reported Jonathan Gorvett of The New York Times.


12. São Paulo is the only city with no change in the number of billionaires.

ESB Professional/Shutterstock

Country: Brazil

Number of billionaires: 33

Number of billionaires gained or lost: 0

Some of the ultra-rich in São Paulo own homes in Santos’ exclusive beach havens, according to Joe Leahy of The Financial Times. They also eat at D.O.M., one of São Paulo’s priciest restaurants, reported Alex Cuadros of Independent.


11. Shenzhen has become a tech hub in China, contributing to a rise in wealth among some of its residents.

Shutterstock/HelloRF Zcool

Country: China

Number of billionaires: 37

Number of billionaires gained or lost: -2

Shenzhen is now one of the top five cities in the world with the most expensive housing,reported Alice Woodhouse of The Financial Times.


T9. Mumbai is a city of imbalance, with a large billionaire population while half of the city’s population live in the slums.

Towering Goals/Shutterstock

Country: India

Number of billionaires: 38

Number of billionaires gained or lost: -1

In Mumbai, the divide between the rich and the poor is further accentuated by the the elite’s tendency to show off. According to Aditya Chakrabortty of The Guardian, they have been known to throw lavish Bollywood parties for eight-year-olds.


T9. Dubai has a strong oil industry, leading to wealth accumulation.

Luciano Mortula – LGM/Shutterstock

Country: UAE

Number of billionaires: 38

Number of billionaires gained or lost: -2

One of the wealthiest parts of Dubai is Dubai Marina,according to Cleofe Maceda of Gulf News. The number of high-net-worth-individuals in Dubai is expected to grow 60% by 2026, according to a Wealth Report from Knight Frank.


T7. Los Angeles billionaires have benefited from strong real estate, equity, and start-up markets.

Sean Pavone/Shutterstock

Country: USA

Number of billionaires: 39

Number of billionaires gained or lost: -2

Los Angeles billionaires grow their wealth by leading a variety of industries, from tech to entertainment, according to the Los Angeles Business Journal. Many are also entrepreneurs.


T7. Singapore saw the biggest decline in billionaires of all cities because of negative equity market performance.

MOLPIX/Shutterstock

Country: Singapore

Number of billionaires: 39

Number of billionaires gained or lost: -5

In Singapore, limited land makes owning a house the ultimate status symbol, Business Insider’s Katie Warren reported. Billionaires spend millions snapping up the island’s few single-family homes in secluded, ritzy neighbourhoods like Orchard Road and Holland Village.


6. Beijing also suffered from negative equity market performance, but saw a less pronounced decrease in billionaires.

HelloRF Zcool/Shutterstock

Country: China

Number of billionaires: 55

Number of billionaires gained or lost: -2

Luxury real estate in Beijing offers more traditional Chinese-style homes than Western-style villas to cater to the demand of the elite, Oscar Holland reported for CNN.


5. London saw an increase in its billionaire population thanks to exchange rate developments within its financial sector.

Pajor Pawel/Shutterstock

Country: UK

Number of billionaires: 65

Number of billionaires gained or lost: 3

Some London billionaires live on Kensington Palace Gardens, known as Billionaire’s Boulevard, the most expensive street in Britain. Here, homes average about $US53 million and can cost nearly $US260 million, according to real estate agency Knight Frank.


4. Moscow’s billionaires benefited from an economy that saw rising investment and higher oil prices.

Reidl/Shutterstock

Country: Russia

Number of billionaires: 70

Number of billionaires gained or lost: 1

Moscow is the homebase for Russia’s richest known billionaire – Leonid Mikhelson, CEO of Novatek gas giant, who has an estimated net worth of $US24 billion.


3. San Francisco has seen an influx of billionaires across its technology sector.

IM_photo/Shutterstock

Country: USA

Number of billionaires: 75

Number of billionaires gained or lost: 1

San Francisco also has more billionaires per inhabitant than any other top city. Several San Francisco tech start-ups are expected to IPO this year, which is expected to increase wealth accumulation in the city.


2. Hong Kong saw a decrease in billionaires last year after suffering a rough year for Asian equities and global trade flows.

EarnestTse/Shutterstock

Country: Hong Kong

Number of billionaires: 87

Number of billionaires gained or lost: -6

Hong Kong’s billionaires live in mansions in secluded neighbourhoods like The Peak, bet big money on horse races, and dine at some of the city’s 82 Michelin-starred restaurants, Katie Warren previously reported.


1. New York is the world’s only city with more than 100 billionaires.

Atanas Bezov/Shutterstock

Country: USA

Number of billionaires: 105

Number of billionaires gained or lost: 2

New York City is home to more billionaires than nearly every country in the world, besides China and Germany.

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