The World's Richest People Are Concentrated in These 8 Cities

July 22, 2016
Jared Kaltwasser

The world's richest people are concentrated in some of the world's biggest cities. Which cities? The answers might surprise you.

With an election year just a few months away, much of the political debate has centered on a handful of billionaires who like to use their largesse to support political candidates of their liking.

However, most of the world’s billionaires aren’t involved in politics, and most aren’t household names. In fact, many billionaires live in unexpected places. For instance, 25 billionaires live in Shenzhen, China, a city not known to many Americans. Meanwhile, Delhi and Mumbai, India have a combined 50 billionaires.

The magazine Forbes, which each year tracks the wealthiest individuals in the world, used its data to compile a list of cities with the most billionaires.

Altogether, the magazine counted 1,826 billionaires in the world in 2015, an increase of 290 from 2014. Those billionaires had an aggregate wealth of more than $7 trillion.

Not surprisingly, Bill Gates was named the richest man in the world, with an estimated wealth of $79.2 billion. Carlos Slim Helu of Mexico held steady at No. 2, and the “Oracle of Omaha,” Warren Buffett, was in third place.

Notably, none of the richest three’s hometowns made it on the list of cities with the most billionaires.

So which cities did make the list? Below we present the eight cities with the most billionaires, according to Forbes’ latest list.

8. Istanbul

Number of Billionaires: 28

Population: 14 million

National Wealth Per Capita: $13,230

7. Seoul

Number of Billionaires: 29

Population: 10 million

National Wealth Per Capita: $46,300

6. Mumbai

Number of Billionaires: 33

Population: 12 million

National Wealth Per Capita: $2,800

5. Beijing

Number of Billionaires: 45

Population: 11.5 million

National Wealth Per Capita: $12,800

4. London

Number of Billionaires: 46

Population: 8.5 million

National Wealth Per Capita: $147,600

3. Hong Kong

Number of Billionaires: 64

Population: 7 million

National Wealth Per Capita: $12,800

2. Moscow

Number of Billionaires: 68

Population: 12 million

National Wealth Per Capita: $10,600

Number of Billionaires: 78

Population: 8.4 million

National Wealth Per Capita: $150,600

Sources: Forbes, New World Wealth’s W20 Report.

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