Do you ever wonder where the worldâ€™s billionaires live? Do they live in the secluded mountains? By the sea? Or in the hustling bustling cities? When youâ€™ve got a few billion lying around, it's not hard to understand that most prefer the happening metropolitan cities.
The worldâ€™s billionaires are quite nicely spread around the world. In many cases, the wealth of billionaires is closely linked to the places they live in. The number-one global industry for billionaire wealth is fashion and retail, with over $1 trillion, or more than 15 percent of total billionaire wealthâ€”topping finance, tech, and oil and natural resources. Technology is second, with $989 billion or 14 percent of the total, followed closely by finance and investment in third with $962 billion. Resources (i.e. oil, energy, metals, and mining) is fourth at $623 billion and automotive and manufacturing is fifth with $561 billion. Ultimately, the top four industries account for more than half of the worldâ€™s billionaires, and the top five account for 60 percent.
Hereâ€™s our list of the cities which hold the highest number of billionaires in attendance:
11. Paris, France - 27 Billionaires
- Being the fashion capital of the world, itâ€™s obvious that Paris is the city of the well-off. Paris is last on our list but hosts 27 billionaires within its boundaries, the most famous being Bernard Arnault, the owner of the LVMH group. FranĂ§oise Bettencourt Meyers â€“ heir to the Lâ€™OrĂ©al empire, FranĂ§ois Pinault â€“ founder of Kering and Artemis, GĂ©rard and Alain Wertheimer â€“ owners of Chanel also live in Paris.
10. Istanbul, Turkey - 28 Billionaires
- Many of the world's billionaires live in Istanbul as well. 28 in total, including Erman IlÄ±cak â€“ businessman and president of RĂ¶nesans Holding.
- Murat Ăślker - the chairman of YÄ±ldÄ±z Holding, the largest food company in the CEEMEA Region and HĂĽsnĂĽ Ă–zyeÄźin â€“ founder of Finansbank all reside in Istanbul.
9. Seoul, South Korea - 29 Billionaires
- Seoul is a mix of businesses but a handful of companies led by the Samsung Group, dominate the business community.
- A total of 29 billionaires live in Seoul. Lee Kun-hee the chairman of Samsung, Seo Jung-jin founder and CEO of biopharmaceutical company Celltrion, Kim Jung-ju founder of South Korea's biggest gaming company Nexon all reside in Seoul.
8. Singapore - 31 Billionaires
- The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10.
- Singapore's richest resident, Zhang Yong is also Chinaâ€™s richest restaurateur â€” the owner of Sichuan hot pot chain Haidilao is $4.2 billion richer than he was in 2019, thanks to a 53% rise in the companyâ€™s stock over the past year.
7. San Francisco - 37 Billionaires
- The city by the bay has five fewer billionaires than a year ago in part, because fortunes fell below $1 billion for former Uber CEO Ryan Graves and Pinterest co-founder Ben Silbermann.
- Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis.
6. Mumbai, India - 38 Billionaires
- Mumbai gained one billionaire residents since 2019, losing five billionaires but adding six newcomers.
- Those include Abhay Vakil, who heads Indiaâ€™s largest paint company, Asian Paints, and the Parekh brothers, who control adhesives and sealants maker Pidilite Industries.
- It is also home to Mukesh Ambani, owner of Reliance network.
5. London, UK - 56 Billionaires
- London comes up on number 6 and plays host to 56 billionaires which include Len Blavatnik the owner of Access Industries, Sri and Gopi Hinduja own the Hinduja Group, Sir Richard Branson, a London native and the founder and CEO of the Virgin Group, James Dyson an engineer and the inventor who founded Dyson Ltd.
4. Beijing, China - 67 Billionaires
- Beijing has moved up the list with 67 billionaires in residence.
- Renowned names such as Jack Ma, founder of Alibaba Group.
- Xu Jiayin chairman of Evergrande Group a real estate development company and Ma Huateng founder of Tencent the popular gaming platform, all call Beijing their home.
3. Moscow, Russia - 70 Billionaires
- Moscow houses 70 billionaires, just 1 short of Hong Kong, bringing it to number three.
- More than 80% of Russiaâ€™s billionaires call its capital home, including mining mogul Vladimir Potanin, is also the richest person in the nation.
- Other billionaires living in Moscow include Leonid Mikhelson founder of Novatek which is the Russian gas company, Mikhail Fridman who owns Alfa-group and Gennady Timchenko who founded the Volga Group, a private investment group.
2. Hong Kong - 71 Billionaires
- With 71 billionaires in residence, Hong Kong comes second on the list. The city recorded a net loss of eight billionaire residents in the past year, owing to the drop in the real estate industry.
- Billionaires living in Hong Kong include Sir Li Ka-Shing, Lee Shau-kee, Cheng Yu-tung, Henry Cheng all of whom own businesses in the real estate industry alongside other industries.
1. New York, USA - 92 Billionaires
- The big apple plays host to the largest number of billionaires as compared to the rest of the world.
- A total of 92 billionaires in the world call New York their home. Billionaires that reside in New York include Michael Bloomberg, Jay-Z, David, and Julia Koch.