Rich people live anywhere in the world. However, it has been discovered that billionaires tend to favor the same spots, making some cities stand out as the richest cities in the world.
Out of 2,153 members of 2019 Forbes World’s billionaire’s list, 551 members live in just ten cities out of all the cities in the world.
When these billionaires live in a town, it tends to increase the GDP of that city. This article will discuss the richest cities in the world.
1. New York
New York is also called the Big Apple. It is the largest city in the US and home to two of the world’s largest stock exchange markets.
New York has been the number one richest city in the world for several years now.
Also, New York is home to many billionaires and celebrities such as Trevor Noah, Carl Ichan, etc.
New York has a net worth of $560.5 billion, and her richest resident is Micheal Bloomberg, a media magnate who has a net worth of $59 billion.
China has many cities in the top 10 richest cities in the world. China is a country with a lot of billionaires due to its production and commerce ability.
Beijing is China’s capital and is home to a lot of young tech billionaires and entrepreneurs.
Beijing has a net worth of $484.3 billion, and her richest resident is Zhang Yiming, who has a net worth of $35.8 billion.
3. Hong Kong
Hong Kong is another of China’s cities on the list of richest cities in the world. Hong Kong is home to some real estate billionaires.
Moreover, a survey says that Hongkongers anticipate a drop in residential real estate prices in 2019.
Hong Kong has a net worth of $448.4 billion, and her richest resident is Li Ka-Shing, a conglomerate kingpin who has a net worth of $35.2 billion.
Moscow used to be the number one richest city in the world before New York overthrew it. Nearly all billionaires in Russia live in the capital, Moscow. Moscow is home to five billionaires who the US Treasury has sanctioned.
Also, Moscow is the most populous city in Russia. Additionally, Moscow has a net worth of $420.6 billion, and her richest resident is Alexey Mordashov, who has a net worth of $31.3 billion.
Shenzhen is a city in China and is considered one of the richest cities in the world. Shenzhen is considered to be a modern metropolis.
During the Chinese economic reforms in the 1980s, Shenzhen was known as the special economic zone. Moreover, today Shenzhen has become an economic and tourist hub.
Every list-maker in the city is a self-made billionaire. For example, Hui Ka Yan, the second richest resident of the city, was a factory technician for ten years before establishing one of China’s foremost real estate developers.
Also, Frank Wang became the world’s first drone billionaire in 2016 after founding Dorm Room.
Additionally, Shenzhen has a net worth of $415.3 billion, and her richest resident is Ma Huateng, Tencent CEO, who has a net worth of $55.3 billion.
London is the capital of England and is known for its public surveillance. London is one of the most expensive cities globally and one of the richest cities in the world.
Moreover, London has more 5-star hotels than any other city in the world. London is home to the uber-rich.
London is home to many celebrities such as Rihanna, Elton John, etc., and expatriate billionaires from countries such as Russia, India, and Iceland.
Furthermore, London has a net worth of $316.1 billion, and her richest resident is Len Blavatnik, a conglomerate kingpin who has a net worth of $31.5 billion.
Hangzhou is also another of China’s cities on the list of richest cities in the world. Hangzhou has become one of China’s renowned and prosperous cities in the last millennium.
Also, Hangzhou has beautiful attraction sites and is one of the world’s top financial centers. Additionally, Hangzhou has a net worth of $269.2 billion, is home to over 47 billionaires.
Her richest resident is Shanshan Zhong, a businessman with a net worth of $74.8 billion.
Mumbai is the financial capital of India and one of the richest cities in the world. Mumbai has the most expensive residence on earth, Ambani’s $1 billion 27-story palaces.
In 2018, Armani hosted a week-long celebration for the wedding of his daughter, Isa, and the son of a fellow billionaire. This wedding made Mumbai the site of one of the biggest weddings ever.
Additionally, Mumbai is also the home of the richest person in Asia, Mukesh Ambani.
Although Mumbai has a net worth of $265 billion, and her richest resident is Mukesh Ambani, an oil and gas heir with a net worth of $80.4 billion.
Shanghai is another of China’s cities on the list of richest cities in the world. With the increase of e-commerce in the world, Shanghai became the world’s biggest port.
Shanghai is also home to four major package delivery companies. Shanghai has a net worth of $259.6 billion, and her richest resident is Colin Zheng Huang, an e-commerce entrepreneur who has a net worth of $37.9 billion.
10. San Francisco
San Francisco is the most expensive city in the US and one of the richest cities in the world. Silicon Valley, San Francisco is the heart of America’s tech revolution. San Francisco is the home of digital age companies such as Pinterest, Airbnb, and Uber.
Additionally, San Francisco has a net worth of $190 billion, and her richest resident is Dustin Moskovitz, co-founder of Facebook, who has a net worth of $23.9 billion.
Seoul is the capital of South Korea and its biggest city. Seoul is one of the richest cities in the world, all the billionaires living in Seoul are South Koreans.
These billionaires control the nation’s most prominent businesses, such as Samsung and Hyundai. Also, South Korea is the world’s fourth-largest online gaming market, and this sector has produced many billionaires.
Furthermore, the net worth of Seoul is $99.9 billion, and her richest resident was Lee Kun-hee, Chairman of Samsung Electronics, who had a net worth of $21 billion before his death in October 2020.
Singapore is the capital of the Republic of Singapore and one of the richest cities in the world. Singapore is an island with over 31 billionaires and has a net worth of $95.3 billion.
Singapore is known for its tourist attraction sites such as Sentosa and Sri Mariamman Temple. Her richest resident is Li Xiting, the founder and chairman of Shenzhen Mindray Bio-Medical Electronics, who has a net worth of $25.8 billion.
When you feel like vacating and exploring expensive and affluent cities, you can use this article as a guide in making your decision.
Since billionaires live there, these cities have a lot of beautiful attraction sites, food, and culture.