In June, Wealth X released its annual report on the world’s billionaire population.
Using RelSci, a data-driven platform, WealthX looked at a database of 11 million influential individuals and 1.8 million organizations to assess and provide insight into where billionaires live based on what they use as their primary business address.
Overall, the report found the top cities ranked were home to 29% of billionaires in 2022.
Almost all of the ones that made the list were major global cities, which proves that the allure of high-end businesses and cultural and lifestyle opportunities remains strong for billionaires.
New York City topped the list as the city home to the most billionaires, according to Wealth X.
Alexander Spatari | Moment | Getty Images
Top 10 cities around the world with the most billionaires
- New York City
- Hong Kong
- San Francisco
- Moscow
- London
- Beijing
- Los Angeles
- Singapore
- Shenzhen
- Mumbai
New York City topped the list with 136 billionaires in 2022.
The city’s uber-rich population lost two people from 2021 to 2022, but it’s still the global billionaire capital.
New York is home to the world’s largest stock markets, New York Stock Exchange and Nasdaq, and is also considered the biggest regional economy in the U.S., according to the report.
Hong Kong is home to 112 billionaires, according to the Wealth X report.
Yang Liu | Corbis Documentary | Getty Images
Like New York, Hong Kong had a similar dip of just 2 billionaires — they now total 112.
According to the Wealth X report, although wealth portfolios were slightly less exposed in Hong Kong to the fluctuating global economy, the region’s divided political developments weigh on how attractive it is for billionaires to move their non-financial businesses there.
According to an ECA International survey, Hong Kong is also considered one of the most expensive locations for expats in the world.
San Francisco rounds out the top three. The city is home to 84 billionaires, one less than in 2021.
Although San Francisco lost a billionaire, it saw a growth of 68% in its population of high-net-worth individuals from 2012 to 2022, according to a Henley & Partners report.
San Francisco is home to 84 billioanires, according to the Wealth X report.
Dan Kurtzman | Moment | Getty Images
According to a March study from Wealth-X and REALM, there’s one ultra-wealthy homeowner in San Francisco for every 505 residents.
Over the last 10 years, San Francisco has become synonymous with Silicon Valley and it was one of the fastest-growing cities in the U.S. in 2022. The tech hub starts in the southern part of the San Francisco Bay Area and also includes other cities such as San Mateo, Santa Clara, San Jose, Palo Alto, Cupertino and Mountain View.
Silicon Valley is home to big companies like Apple, Facebook, Google, Twitter, Nvidia, and more.
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Source: CNBC