The Top 15 Global Cities Housing the Wealthiest Billionaires

Despite frequent discussions about the richest individuals leaving bustling metropolises like New York or San Francisco for more serene areas such as Jackson Hole and Palm Beach, many billionaires prefer the company of their peers in urban centers.

Findings from the 2024 Altrata Billionaire Census reveal that nearly 28% of the globe's billionaires reside in just 15 cities. These cities remain popular among the ultra-rich, seeing a rise in their affluent populations.

New York City continues to top the list as the leading city with the highest number of billionaires. The city not only retained its title but also experienced the most significant increase in its billionaire residents, surpassing all but the United States, China, and Germany in individual country counts.

Meanwhile, cities in China such as Beijing, Shenzhen, Hangzhou, and the region of Hong Kong have witnessed reductions in their billionaire numbers. This decline is attributed to economic struggles and a downturn in real estate. Additionally, China's push for 'common prosperity' under Xi Jinping has encouraged many wealthy individuals, including Alibaba's founder Jack Ma, to leave the country.

India saw a significant rise in billionaire numbers, with a 15.9% annual increase, now totaling 304. The growth is driven by strengthening infrastructure, an expanding consumer base, and an improved stock market performance.

Globally, the billionaire count has reached an all-time high, with Altrata reporting 3,323 billionaires, marking a 4% increase from the previous year. The collective wealth of these elite groups has also grown by 9%, amassing approximately $12.1 trillion.

15. Hangzhou, China

With a billionaire population of 33 in 2023, the city saw a decrease of one billionaire in a year.

12. Istanbul, Turkey (tie)

Istanbul's billionaire population stands at 34, having increased by one in the last year.

12. São Paulo, Brazil (tie)

This Brazilian city also hosts 34 billionaires, gaining one more since last year.

12. Paris, France (tie)

Paris reports a billionaire count of 34, with an addition of two in the past year.

11. Dubai, United Arab Emirates

Dubai's tally of billionaires reached 39 in 2023, marking an increase of one.

10. Mumbai, India

This bustling city has seen its billionaire count rise to 40, with an increase of one over the year.

9. Shenzhen, China

Shenzhen's billionaires number 41, which is a reduction of one from the previous year.

8. Singapore

The city-state of Singapore now has 58 billionaires, an increase of four from last year.

7. Beijing, China

Beijing hosts 60 of the world’s billionaires, showing a decrease of two from last year.

6. Los Angeles, United States

The glamorous city of Los Angeles reports a billionaire count of 62, having welcomed five new billionaires in the last year.

5. Moscow, Russia

Moscow's billionaire population is 77, showing a slight increase by one over the past year.

4. London, England

Housing 78 billionaires, London added three more to its tally from the previous year.

3. San Francisco, United States

With a count of 87 billionaires in 2023, San Francisco saw an increase of three.

2. Hong Kong

Despite losing five from its previous count, Hong Kong remains a major hub with 107 billionaires.

1. New York City, United States

Leading the ranking, New York City is home to 144 billionaires, gaining nine additional members in just one year.