Nearly a third of the world’s billionaire population is concentrated in just 15 cities, according to Wealth-X’s recently released annual. From San Francisco to Shenzhen, the world’s billionaire population counts over 2,600 billionaires in the world and over a quarter of these ultra-high-net-worth individuals reside in the U.S., with a large share in eastern Asia, where China ranks 2nd as the country with the second-highest number of billionaires. New York City alone has more billionaires than most countries.
According to Wealth-X reports, these are the 10 countries with the largest populations of billionaires:
- 10 (2) / United Arab Emirates: 55 billionaires, total wealth of $165 billion
- 10 (1) / France: 55 billionaires, total wealth of $195 billion
- 9 / Saudi Arabia : 57 billionaires, total wealth of $145 billion
- 8 / India: 82 billionaires, total wealth of $284 billion
- 7 / Hong Kong: 87 billionaires, total wealth of $259 billion
- 6 / Switzerland: 91 billionaires, total wealth of $240 billion
- 5 / United Kingdom: 97 billionaires, total wealth of $209 billion
- 4 / Russia: 102 billionaires, total wealth of $355 billion
- 3 / Germany: 146 billionaires, total wealth of $442 billion
- 2 / China: 285 billionaires, total wealth of $996 billion
- 1 / United States: 705 billionaires, total wealth of $3.013 trillion
Strong tech sectors are responsible for wealth accumulation in several cities, from San Francisco to Shenzhen in China. A large share of the world’s billionaire population resides in eastern Asia — several cities like Hong Kong and Beijing made the list. According to the report, 29% of the world’s billionaire population is concentrated in the 15 major cities.
- 10 / Mumbai (India): 38 billionaires / Asia’s wealthiest family, the Ambanis, hail from Mumbai. Mukesh Ambani has an estimated net worth of $64.4 billion.
- 9 / Shenzhen (China): 39 billionaires / Shenzhen is home to famed Alibaba cofounder Jack Ma.
- 8 / Los Angeles (USA): 44 billionaires / Billionaire Angelenos include Tesla Founder and CEO Elon Musk, who has an estimated net worth of $46.3 billion, and Hollywood’s richest mogul, David Geffen, who has an estimated net worth of $9 billion.
- 7 / Singapore (Singapore): 45 billionaires
- 6 / Beijing (China): 57 billionaires / Hong Kong’s billionaire newcomers operate at the nexus of technology and education (Larry Xiangdong Chen and Liu Yachao became billionaires in the fields of online education and after-school tutoring.
- 5 / London (UK): 66 billionaires / Some London billionaires live on Kensington Palace Gardens, known as Billionaire’s Boulevard, the most expensive street in Britain. Here, homes average about $53 million and can cost nearly $260 million.
- 4 / Moscow (Russia): 73 billionaires / Moscow is the homebase for Russia’s richest known billionaire — Vladimir Potanin, a mining mogul with an estimated $23.5 billion net worth.
- 3 / San Francisco (USA): 77 billionaires / San Francisco has consistently risen in its ranking of billionaire cities over the last 10 years thanks to gains in the tech industry.
- 2 / Hong Kong (Hong Kong): 96 billionaires / Hong Kong’s billionaires live in mansions in secluded neighborhoods like The Peak.
- 1 / New York City (USA): 113 billionaires / Wealth-X noted there are more billionaires in New York City than almost every country in the world, with the exception of China and Germany. Former New York City mayor and failed presidential candidate Michael Bloomberg, who has an estimated net worth of $60.1 billion, is the city’s richest person.
Discover here the most expensive districts where the world’s billionaire population resides:
Malabar Hill (Mumbai, India): Most of the posh localities in Mumbai are located close to the sea or offer a view of the water body. Bollywood celebrities, businessmen and start-up entrepreneurs, own or rent a home in these posh areas, which make these localities exclusive and popular amongst Mumbaikars. Malabar Hill is not just Mumbai’s but India’s most exclusive residential address, where most of the residents are billionaires and millionaires. Apart from luxurious condos and penthouses, the hillock area also has few marquee properties priced at Rs 300 crores and above. Malabar Hill is located on the southern-most tip of Mumbai, which gives it a three-side view of the Arabian Sea. The area is also famous for Hanging Gardens, a hillside park which has hedges sculpted into animal figures.
Altamount Road (Mumbai, India): Altamount Road also known as India’s billionaires row is an affluent neighbourhood in the city of Mumbai, Maharashtra. It consists of ultra-luxury residential skyscrapers, constructed or in development. Most influential towers are The Imperial, Lodha Altamount, Antilia and Raheja One Altamount present on this affluent street.
Futian (Shenzhen, China): The city is a leading global technology hub, dubbed by media China’s Silicon Valley. The city is divided into several districts. Futian is the government and financial district of Shenzhen, which makes it also one of the more expensive places to live. In Futian you’ll find an ample choice of schools (international or not), shopping malls and nightclubs. The areas with the highest concentrations of expatriates are Coco Park and OCT (Overseas Chinese Town), where you’ll find the most “renowned” apartments in the city. The district of Futian is Shenzhen’s business and administrative centre. While mostly residential, Futian contains important buildings such as the Shenzhen Stock Exchange, the Shenzhen Library and Concert Hall, Shenzhen City Hall and Shenzhen Development Bank—symbols of Shenzhen’s rapid growth. One of the world’s tallest buildings, Shun Hing Square, is also in Futian. It is China’s tallest steel structure.
Malibu Colony Beach (Los Angeles, USA): Home to stars such as Tom Hanks, Malibu Colony Beach is a private gated community by the shore, offering its homeowners exceptional views. This coveted neighborhood in L.A.’s residential area is safe and secure, making it an optimal location for celebrities (and regular folks) with kids.
Beverly Hills Gateaway (Los Angeles, USA): Beverly Hills is a dreamland for the ultra-elite. Highlights of the neighborhood include upscale boutiques and exquisite dining experiences such as Avra Beverly Hills Estiatorio, Maude, Tempura Endo, and MÍRAME. Nestled away in the hills of L.A., this neighborhood is all about privacy and seclusion. It’s also home to The Beverly Hilton, where the annual Golden Globe Awards are hosted. When in Beverly Hills (cue Weezer), you can also stroll the Virginia Robinson Gardens and check in to the Beverly Hills Hotel for an evening spent among Hollywood starlets. Given these attributes, Beverly Hills is a desirable place to live and is among the richest neighborhoods in L.A.is coveted neighborhood in L.A.’s residential area is safe and secure, making it an optimal location for celebrities (and regular folks) with kids. The highly exclusive gated community of Beverly Park is located North of Beverly Hills, allowing for exceptional scenic views from these stunning estates. It is home to the most expensive homes in Los Angeles. Beverly Park is divided into South Beverly Park and North Beverly Park and is located high in a canyon above Beverly Hills, near the summit of the Santa Monica Mountains and well-known Mulholland Drive, just minutes north of Sunset Boulevard in Beverly Hills. Each section of Beverly Park has easy access to the Westside (Beverly Hills, Century City, Bel Air and West Hollywood) as well as to the Valley. Interestingly, The Beverly Park HOA mandates a minimum size for houses here, which is 5,000 square feet!
Trousdale (Los Angeles, USA): Located within the City of Beverly Hills, Trousdale Estates is known for its mid-century modern homes. Since they were designed by respected architects, the houses in this neighborhood gained a good reputation and attracted many high-profile residents, including Jane Fonda. Thanks to its luxuriant landscapes, gated properties, and private security, the exclusive community is safe and well-maintained. Trousdale Estates is a community within the City of Beverly Hills, carved out of the hillside from what was once the Doheny Ranch. Most of the homes within the development were built during the 1960s and feature mid-century modern homes sited on terraced lots. Trousdale Estates real estate consists of a high concentration of homes designed by notable architects and led to the neighborhood’s reputation as an enclave for mid-century modern chic. Other architectural styles are represented within the neighborhood, ranging from the more traditional to ultra-modern glass jewel boxes. The community is home to many high-profile residents, who value the privacy afforded by lush landscaping, gated lots, and a private security firm with armed guards patrolling the neighborhood around the clock.
Landed Houses (Singapore): Super-rich people spend millions to snap up the island’s few single-family homes in secluded, ritzy neighborhoods like Orchard Road and Holland Village. Also known as Good Class Bungalows (GCBs), Landed Houses are the most prestigious type of housing in Singapore. For this upper crust, the most coveted homes are called “landed properties,” which means the residents own the tract of land, not just a condominium within a building. With space at a premium, it’s unsurprising that this type of property is also highly expensive. Owners have to comply with the requirements imposed by the Urban Redevelopment Authority (URA) such as two storey building height restriction and the minimum lot size requirement of 1,400 square metres. It guarantees that the neighborhoods will have the least disruption to your views. These premium homes range from $ 4.4 million to more than $ 100 million, with price per square meter starting at $2,000. Most are located in exclusive areas of Orchard Road, Holland Park, and Chatsworth Park. They are usually equipped with amenities such as a swimming pool, a garden, and off road parking.
Chaoyang District (Beijing, China): A neighborhood marked by wealth and home to an equal mix of both urban and suburban lifestyles, the Chaoyang District is best known for its bars, business district, embassies, and sprawling parks. With the district being as built up as it is, residents here have access to everything and anything they could need; many expat living spaces are equipped with modern appliances, imported goods, and opportunities to shop, party, and eat like nowhere else. Chaoyang Park is located in what is considered to be the richest district in all of Beijing, complete with a sprawling green area located in the center of a suburban neighborhood. Residents here are typically very wealthy and live very modern lifestyles.
Kensington Palace Gardens (London, UK): located in West London and known as “Billionaires’ Boulevard,” this street is the most expensive one in England, with average home prices estimated at an eye watering £33 million ($41 million).
Rublyovka (Moscow, Russia): 73 billionaires / Moscow is the homebase for Russia’s richest known billionaire — Vladimir Potanin, a mining mogul with an estimated $23.5 billion net worth. The most exclusive part of Moscow, that’s been compared to Beverly Hills and where homes go for up to $80 million, is Rublyovka. Here ultra-wealthy Russian individuals can live according to their priorities: privacy and security. In Rublyovka, the area surrounding the Rublyovskoye highway, government officials and wealthy businesspeople live in homes that cost up to $80 million. In the lavish Mayendorf Gardens gated community of Rublyovka, a 12,000-square-foot mansion with a swimming pool, sauna, and staff apartments is for sale for $62.4 million. But the most expensive homes may not even be publicly listed.
Pacific Heights (San Francisco, USA): 77 billionaires / San Francisco has consistently risen in its ranking of billionaire cities over the last 10 years thanks to gains in the tech industry. Pacific Heights is one of the most desirable places to live in San Francisco. The neighborhood boasts some of the nicest views in the city and also has easy access to The Presidio national park. Additionally, with areas known as “billionaires row,” where Larry Ellison and Marc Benioff have taken up residency, this neighborhood is the most expensive place to live in San Francisco. The average rent for a one-bedroom apartment runs around $3,971 a month.
The Peak (Hong Kong): 96 billionaires / Hong Kong’s billionaires live in mansions in secluded neighborhoods like The Peak. The Asian financial center hasn’t given up the first position in the list of the most expensive housing markets, also topping the ranking for the world’s most luxurious housing market for the last two years. The Peak has become the epitome of wealth since the British times and still doesn’t give up the title. Not only it is the most expensive neighborhood in Hong Kong, but it also heads the list in the world. Prices for the apartments here increase proportionally with the altitude (and reach more than HK$120,000 per square foot). No wonder that the residents of The Peak are wealthy bankers, celebrities and billionaires from Mainland China. Although it has never been confirmed, the rumors have it that Jack Ma has bought a 191 million mansion. But what moguls around the world find so attractive about this area? For starters, the view is hard to beat. Lush greenery all around, turquoise waters of the bay and the concrete jungle skyline can be seen from the apartment windows. The law restriction doesn’t allow buildings to rise high to skyscraper level not to obstruct the scenery around. So most of the properties at The Peak are townhouses and low-rise apartment buildings with private pools, lawns, and gardens. With various hiking trails and clear air, The Peak is great for fitness enthusiasts who prefer outdoor activities. Besides, the area has several tennis courts and some of the city’s best and most expensive hospitals such as Matilda. When it comes to prestigious private schools, there are plenty in the nearby areas.
Manhattan (New York City, USA): 113 billionaires / Wealth-X noted there are more billionaires in New York City than almost every country in the world, with the exception of China and Germany. Former New York City mayor and failed presidential candidate Michael Bloomberg, who has an estimated net worth of $60.1 billion, is the city’s richest person. New York City has some of the priciest real estate in the world. It costs an average of $1,371 per square foot (as of Jan. 31, 2020) to buy your piece of the Big Apple, and that’s just in Manhattan. Of course, this is just a start when you begin to look at luxury residential homes in the city. In January 2019, the city had the most expensive condo sale in history when a Central Park South property sold for $238 million. It is no surprise Manhattan tops the list with some of the most expensive neighborhoods in New York City. The following are the top 10 costly neighborhoods in Manhattan.
- SoHo is known for its fancy shops and trendy coffee shops, and it is also home to the most expensive residential real estate in the entire city of New York. Many of the apartment buildings within the neighborhood have been converted from 19th-century warehouses, giving SoHo a unique appeal. These warehouse-converted loft apartments have attracted celebrities such as Tyra Banks, Jonah Hill, and Kelly Ripa. Due to the larger, older structures, SoHo is home to many oversized penthouses. For example, condos within the historic Puck Building have gone for as high as $28 million. The median sale price for a home in this neighborhood is $2.8 million.
- Tribeca is a neighborhood almost as glitzy as SoHo, and it has more celebrities per capita than any other neighborhood in the city. Celebrities such as Jon Stewart, Jay-Z, and Meryl Streep live in the neighborhood and are often seen frequenting the restaurants and coffee shops that line the streets. Similar to Soho, Tribeca is known for its warehouses that have been renovated into large lofts with high ceilings, massive windows, and high-end finishes. For example, an apartment that sold for $5.425 million in the neighborhood was originally an olive oil and feta factory. Luxury high-rises have been developed to the south of the neighborhood, providing lessees and residents with pricey but picturesque views of New York Harbor. The median sale price for a home in this neighborhood is also $2.8 million.
- The Flatiron District is named after the historic Flatiron Building that sits on the corner of Fifth Avenue and Broadway. With Madison Square Park to the north and Union Square to the south, this neighborhood is in the middle of Manhattan. The neighborhood has given rise to new luxury hotels and critically acclaimed restaurants, enticing celebrities to live there. Jennifer Lopez, Chelsea Clinton, and Jeff Gordon all have boutique condos in this neighborhood, where certain penthouses have been listed for as much as $40 million. The median sale price for a home in this neighborhood is $1.8 million.
- Midtown Manhattan, a neighborhood that once was a place for office buildings and office towers. Midtown Manhattan has given way to the top luxury residences in New York City. In 2015, a penthouse here sold for a price tag of $100.5 million at One57. Additionally, the 432 Park Avenue building in Midtown Manhattan is the tallest residential building in the city and has a penthouse that sold for $95 million. The neighborhood has perks by being within walking distance to Central Park and Fifth Avenue. The median sale price for a home in this neighborhood is $1.2 million.
- Hudson Square: flanked by Greenwich Village, Tribeca, and SoHo, Hudson Square is another extremely desirable neighborhood. It has a median sale price of $2,264,000, and it was once known as the Printing District. Today, the area is still a hotbed of media-related activity, housing a variety of creative agencies.
- West Village: median sales prices in West Village, according to Property Shark, are slightly lower than other neighborhoods at $1.4 million. The area is historically known as a center for American bohemian culture. It contains a vibrant, artistic scene with quirky consignment shops, historic brownstones, and is a magnet for celebrity sightings.
- Garment District: this area is also known as the Fashion District, and it’s currently home to a growing number of fashion warehouses, showrooms, and designers like Cally Rieman, Ann Yee, and Daniel Vosovic. This district is one of the epicenters of the fashion industry, not just in New York, but for the entire world. The median sales price is $2.7 million, according to Property Shark.
- Central Park South: some of the best views in New York can be found in Central Park South, which surrounds the southern boundary of Central Park. The median sales price was $1.5 million, in 2019, according to an analysis by the Wall Street Journal. The area is within an easy walk to high-end shopping on Fifth and Madison Avenues, and as such, this neighborhood attracts a wide range of luxury real estate buyers and investors from all over the world.
- East Village: east Village is home to New York University, and therefore, droves students, artists, and musicians populate this area. Despite the high prices, the area is known as the center of the counterculture in NYC and the birthplace of artistic movements like punk rock and the Nuyorican literary movement. The median sales price is over $1 and a half million.
- Chelsea: Chelsea was once an industrial neighborhood, but now, it’s primarily residential. In addition to luxury townhouses, renovated row houses, and popular restaurants like Txikito and Toro, Chelsea is famous for Chelsea Market and the High Line. This posh neighborhood has a median sales price of $1.9 million, as of 2019.