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This city dethrones New York as the billionaire capital of the world

For the first time, China has overtaken the US as the country with the most billionaires.
By Nina Zipkin |

Beijing just surpassed New York City to become the city with the most billionaires in the world.

 

A hundred billionaires are based in the Chinese capital compared to New York City’s 95, according to findings from the Hurun Global Rich List, an annual wealth ranking from the Shanghai-based Hurun Report.

 

Bill Gates and Warren Buffett are still the first and second wealthiest people in the world, with net worths of $80 billion and $68 billion, respectively. Zara founder Amancio Ortega comes in at number three with assets totaling $64 billion, followed by Amazon’s Jeff Bezos ($53 billion). Mexican business magnate and investor Carlos Slim Helu rounds out the top five with a net worth of $50 billion.

 

Related: These are the world's top 10 young billionaires


The two wealthiest people in China are Wang Jianlin ($26 billion), the chairman of the Wanda Group, a luxury commercial property company and the world’s largest movie chain operator, and Li Ka-Shing ($25 billion), the 87-year-old chairman of CK Hutchison Holdings, investor, and philanthropist.

 

For the first time, China has overtaken the US as the country with the most billionaires. The 5-year-old list reports that there are now 2,188 billionaires around the world, 50% more than in 2013.

 

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This article also appeared on Entrepreneur.com. Minor edits have been done by the Entrepreneur.com.ph editors.

 

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