Wealth finds a home here: The 20 richest cities in the world - Global Billionaire Club Swells to 2,781, Led by Arnault, Bezos, Musk
The global billionaire club continues to grow, with French business magnate Bernard Arnault, Amazon's Jeff Bezos, and Tesla's Elon Musk leading the pack. Since 2001, the number of billionaires worldwide has nearly sextupled, reaching a staggering 2,781 last year.
The surge in billionaire numbers is evident in various regions. In Germany, economic research institutes like GfK track disposable income to reveal where wealth is concentrated. Meanwhile, Henley & Partners, a firm specializing in services for the wealthy, identifies cities with the highest concentrations of ultra-rich residents. New York, Beijing, Hong Kong, and San Francisco top the list, driven by growth in the technology sector, venture capital investments, and expansion of wealth in digital and AI-driven industries. Companies like Alphabet, Microsoft, and Meta have significantly contributed to this wealth concentration.
However, the assumption that many millionaires and billionaires living in a city indicates widespread prosperity is not always accurate. In India, for instance, billionaire density does not necessarily translate to overall wealth growth or prosperity among the general population. When billionaire density is equal, the rate of wealth growth carries more weight than the sheer number of (multi-)millionaires.
The global billionaire count continues to rise, with tech-driven cities leading the way. However, the relationship between billionaire density and overall prosperity remains complex and varies by region.
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