The Forbes annual list of world’s billionaires is out. It marks the first time that the ranking tops 2,000 individuals with 10-figure fortunes, partly due to higher commodity prices as well as rising stock markets.
But in what parts of the worlds do most billionaires live?
Cities With The Most 10-Figure Earners
The wealthiest list spans six continents as well as 71 countries and territories. In terms of city distribution, New York occupies the top spot with 82 billionaires and a combined net worth of $397.9 billion, Forbes reported.
New York City’s richest resident is David Koch at $48.3 billion, followed by former mayor Michael Bloomberg. Just last September in the ranking of richest Americans, Bloomberg was richer than Koch.
Trailing NYC is Hong Kong, which boasts of a 75-billionaire population and a combined net worth of $297.8 billion. Leading the Asian city’s roster of billionaires is Li Ka-shing at $31.2 billion.
“In a city that’s home to more than seven million people, it’s easy to see how real estate has made the fortunes of so many of them. Some 25 of those billionaires get the bulk of their fortune from real estate,” wrote Ryan Salchert.
Other cities with the most billionaires are Moscow in Russia, with 73 billionaires and $297 billion combined net worth; Beijing in China, with 54 billionaires and $161.3 billion combined net worth; London with 50 billionaires and $217.3 billion combined net worth; and Mumbai with 41 billionaires and $149.1 billion combined net worth.
Shanghai, Seoul, Shenzhen, San Francisco, and Singapore also made it to the list.
Increasing Number of Planet’s Richest
This is a record year reflecting a 13 percent climb of the number of billionaires, from 1,810 last year to 2,043, and the biggest in the three decades that Forbes has been tracking them globally. The total net worth of these individuals jumped 18 percent to a record $7.67 trillion.
For the fourth consecutive year, Bill Gates is richest on Earth with an $86 billion fortune, up from $75 billion in the previous year.
Of any billionaire anywhere, Amazon founder Jeff Bezos logged the best year with an additional $27.6 billion in fortune, bringing his total net worth to $72.8 billion and taking him to the top 3 for the first time.
Warren Buffet had the second most wonderful year and the largest gain since Donald Trump emerged victorious in the November presidential elections. In 12 months, his fortune jumped $14.8 billion, enabling him to nab the second top spot from clothing maven and Zara founder Amancio Ortega.
Facebook head Mark Zuckerberg also moved up to the fifth spot for the first time, his fortune rising $11.4 billion in 12 months.
An analysis of charity group Oxfam harped on the wealth gap worldwide and revealed in January that the eight richest persons in the world hold as much wealth as the poorer half of the global population.
Trump In Forbes List
Trump slipped in the ranking this year with a $1 billion decrease in fortune. He fell from number 336 last year to number 544 this year, a dip of 208 spots.
His drop from the billionaires’ list, however, was not attributed to him stepping down from his businesses upon entering the White House but to swings seen in the real estate market. Trump owns properties such as Trump Tower as well as eight others in Midtown Manhattan.
He’s traditionally averse to the way Forbes estimates turn out. In a personal financial disclosure last year, Trump said he had a personal fortune of over $10 billion.
In a report last February, global credit rating agency Fitch deemed Trump a potential threat to the global economy. The unpredictability of U.S. policy and the Trump administration’s willingness to sever established international ties, the experts cited, are factors that could potentially destabilize markets worldwide.
