Almost a third of all the billionaires in the world live in just 15 cities, a study has found.
Twenty-eight percent of the planet’s billionaires live in cities, including New York City, Beijing, London and Paris, according to Altrata’s Billionaire Census for 2024.
The census shows the Big Apple retained the top spot as the city with the most billionaires and saw the largest increase in numbers.
Three cities in China along with Hong Kong saw the total of their billionaire count drop as the Asian giant’s economy continued to sputter.
A push for wealth to be shared in China by Chinese premier, Xi Jinping, also led some billionaires to leave the country, according to the experts.
This compares to India where its population of billionaires rose 15.9%, with the country now hosting 304, according to the figures cited by Business Insider.
In total, there are 3,323 billionaires in the world – a rise of 4% – with their wealth increasing 9% to £9.62trillion ($12.1tn).
According to Altrata, Hangzhou is in 15th place in the ranking, with 33 billionaires, a loss of one since 2022.
Istanbul, São Paulo and Paris each have 34 billionaires, with the first two gaining an extra billionaire and the capital of France another two.
There were 39 billionaires in Dubai in 2023, an increase of one, and 40 in Mumbai, which added an extra billionaire year on year, according to Altrata.
Shenzhen shed one billionaire and ended last year on 41, while Singapore gained four billionaires, taking its total to 58.
Two billionaires left Beijing last year, taking its total to 60, with Los Angeles being home up to 62 after adding another five to its mega-rich population.
Moscow’s total was 77, with an extra billionaire on 2022, while London hosted 78, a gain of three since 2022.
The top three cities for billionaires are San Francisco (87, a gain of three), Hong Kong (107, with five lost) and New York City (144, up nine).
