Hong Kong ranked number two on world’s 40 best cities for billionaires

Where are all the billionaires? Here’s where - in some of the world’s most expensive cities

PUBLISHED : Tuesday, 25 October, 2016, 2:09pm
UPDATED : Tuesday, 25 October, 2016, 2:09pm

There are more billionaires than ever: 2,473, according to research firm Wealth-X , which releases an annual Billionaire Census .

Where do the world’s billionaires reside?

New York City is home to the most, 97, with Hong Kong, Moscow, London, and Beijing rounding out the top five.

“When looking at the top cities home to global billionaires, it’s important to acknowledge that finance remains the dominant industry for this demographic,” Wealth-X tells CNBC. “As a result, more billionaires are likely to be located in large financial centres such as London and New York.”

The firm also notes that billionaires like to be surrounded by other billionaires: “There has been a rise in the concentration of wealth in recent years. ... This makes having some sort of presence in the likes of New York, London, and Hong Kong almost a prerequisite for billionaires.”

Here are the 40 cities with the largest population of billionaires, courtesy of Wealth-X.