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 the 2,153 members of the 2019 Forbes World’s Billionaire list, 551 live in just 10 cities worldwide.
When these billionaires live in a town, it tends to increase the city’s GDP. 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 world’s richest city for several years. It also has many billionaires and celebrities, such as Trevor Noah and Carl Icahn.
New York has a net worth of $560.5 billion; its richest resident is Michael Bloomberg, a media magnate with a net worth of $59 billion.
2. Beijing
China has many of the top 10 richest cities in the world. Due to its production and commerce ability, China has many billionaires.
Beijing is China’s capital and home to many young tech billionaires and entrepreneurs.
Beijing has a net worth of $484.3 billion; its richest resident is Zhang Yiming, with a net worth of $35.8 billion.
3. Hong Kong
Hong Kong is another city in China on the list of richest cities in the world. It is home to some real estate billionaires.
Moreover, a survey says Hongkongers anticipate a drop in residential real estate prices in 2019.
Hong Kong’s net worth is $448.4 billion; its richest resident is Li Ka-Shing, a conglomerate kingpin with a net worth of $35.2 billion.
4. Moscow
Moscow used to be the number one richest city in the world before New York overthrew it.
Nearly all Russian billionaires live in Moscow, the capital. Moscow is home to five billionaires who the US Treasury has sanctioned.
Moscow is also the most populous city in Russia. Its net worth is $420.6 billion, and its richest resident is Alexey Mordashov, who has a net worth of $31.3 billion.
5. Shenzhen
Shenzhen is a city in China and is considered a modern metropolis. It is one of the richest cities in the world.
During the Chinese economic reforms in the 1980s, Shenzhen was known as the special economic zone. Moreover, 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 becoming 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; her richest resident is Ma Huateng, Tencent CEO, with a net worth of $55.3 billion.
6. London
London is the capital of England and is known for its public surveillance. It is also one of the most expensive and richest cities in the world.
Moreover, London has more 5-star hotels than any other city worldwide. London is home to the uber-rich.
London is home to many celebrities such as Rihanna, Elton John, etc., and expatriate billionaires from Russia, India, and Iceland.
Furthermore, London has a net worth of $316.1 billion, and its richest resident is Len Blavatnik, a conglomerate kingpin with a net worth of $31.5 billion.
7. Hangzhou
Hangzhou is another one 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.
Hangzhou has beautiful attraction sites and is one of the world’s top financial centers. Additionally, it has a net worth of $269.2 billion and is home to over 47 billionaires.
Her richest resident is Shanshan Zhong, a businessman with a net worth of $74.8 billion.
8. Mumbai
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 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.
9. Shanghai
Shanghai is another city in China on the list of richest cities in the world. With the increase of e-commerce, 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 with 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. It is the home of digital-age companies such as Pinterest, Airbnb, and Uber.
Additionally, San Francisco has a net worth of $190 billion; her richest resident is Dustin Moskovitz, co-founder of Facebook, with a net worth of $23.9 billion.
11. Seoul
Seoul is the capital and biggest city of South Korea. It is also 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. South Korea is the world’s fourth-largest online gaming market, and this sector has produced many billionaires.
Furthermore, Seoul’s net worth is $99.9 billion, and its richest resident was Lee Kun-hee, Chairman of Samsung Electronics, who had a net worth of $21 billion before his death in October 2020.
12. Singapore
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 attractions, such as Sentosa and Sri Mariamman Temple. Its 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 to guide your decision.
Since billionaires live there, these cities have a lot of beautiful attractions sites, food, and culture.
