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Mapped: The Top 10 Billionaire Cities

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Mapped: The Top 10 Billionaire Cities in 2020

In 2020, the world gained 493 new billionaires—that’s one every 17 hours.

For the last seven years, New York City has been home to more billionaires than any other city in the world. However, last year marked a monumental shift in the status quo.

Beijing has unseated the Big Apple, and is now home to 100 billionaires. That’s one more billionaire than the 99 living in New York City.

Today’s map uses data from Forbes to display the top 10 cities that house the most billionaires.

Where do the Most Billionaires Live?

The richest of the rich are quite concentrated in cities, but some cities seem to best suit the billionaire lifestyle. Here’s a breakdown of the top 10 billionaire capitals and the collective net worth of all the ultra wealthy that live there.

RankCityRegionNumber of BillionairesNet Worth of the City's Billionaires
#1Beijing🇨🇳 Asia100$484.3B
#2New York City 🇺🇸 North America99$560.5B
#3Hong Kong🇨🇳 Asia80$448.4B
#4Moscow🇷🇺 Europe79$420.6B
#5Shenzhen🇨🇳 Asia68$415.3B
#6Shanghai 🇨🇳 Asia64$259.6B
#7London 🇬🇧 Europe63$316.1B
#8Mumbai🇮🇳 Asia48$265.0B
#9San Fransisco🇺🇸 North America48$190.0B
#10Hangzhou🇨🇳 Asia47$269.2B

Some cities have some obvious billionaires that come to mind. New York’s richest person and former mayor, Michael Bloomberg, is worth $59 billion. Beijing’s richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion.

In terms of the locations themselves, London, New York, and San Francisco are the only Western cities to make the list. Though New York was ousted from the top position last year, altogether the city’s billionaires are still worth more than Beijing’s.

One new city to make the top 10 list of billionaire cities was Hangzhou, the home of Jack Ma. It booted out Singapore from the 10th spot.

East Meets West

More than half of the top 10 cities are located in Asia, providing evidence of the shift eastwards when it comes to seats of wealth. Five of the six Asian cities listed are all in China.

What’s helped lead to this?

The country has seen an e-commerce boom, not in the least thanks to the pandemic. Additionally, the efficient handling of COVID-19 has allowed the economy to get back on track much more quickly than other countries. According to the BBC, 50% of China’s new billionaires have made their wealth either through tech or manufacturing.

Four of the Chinese cities on the list also had the biggest billionaire growth in 2020. Each of them gained more than 10 net new billionaires:

  • 🇨🇳 Hangzhou: 21
  • 🇨🇳 Shanghai: 18
  • 🇨🇳 Shenzhen: 24
  • 🇨🇳 Beijing: 33

The only other city to gain more than 10 new billionaires in 2020 was San Francisco with 11.

Now sitting at 698 billionaires, China is coming up on the 724 held by the United States. Beijing overtaking NYC could be the beginning of a larger tipping point.

Shifting Tides

Asia-Pacific’s collective 1,149 billionaires are worth $4.7 trillion, while U.S. billionaires are worth $4.4 trillion in total wealth.

Overall, it looks like the wealth tides may be turning as China continues to progress economically and more billionaires become based in the East over the West.

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Markets

The World’s Biggest Fashion Companies by Market Cap

LVMH Moët Hennessy Louis Vuitton (LVMH) is the industry’s biggest player by a wide margin.

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Bubble chart showing the world’s biggest fashion companies by market cap.

The World’s Biggest Fashion Companies by Market Cap

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Fashion is one of the largest industries globally, accounting for 2% of the global gross domestic product (GDP).

In this graphic, we use data from CompaniesMarketCap to showcase the world’s 12 largest publicly traded fashion companies, ranked by market capitalization as of Jan. 31, 2024.

LVMH Reigns Supreme

European countries dominate the list of the biggest fashion companies, with six in total. The U.S. boasts four companies, while Japan and Canada each have one.

LVMH Moët Hennessy Louis Vuitton (LVMH) is the industry’s biggest player by a wide margin. The company boasts an extensive portfolio of luxury brands spanning fashion, cosmetics, and liquor, including Marc Jacobs, Givenchy, Fendi, and Dior, the latter of which holds a 41% ownership stake in the global luxury goods company.

RankCountryNameMarket Cap (USD)
1🇫🇷 FranceLVMH421,600,000,000
2🇺🇸 United StatesNike153,830,000,000
3🇫🇷 FranceDior145,861,000,000
4🇪🇸 SpainInditex134,042,000,000
5🇺🇸 United StatesTJX Companies108,167,000,000
6🇯🇵 JapanFast Retailing81,489,917,976
7🇺🇸 United StatesCintas61,285,867,520
8🇨🇦 Canadalululemon57,267,998,720
9🇫🇷 FranceKering50,900,207,000
10🇺🇸 United StatesRoss Stores47,227,502,592
11🇩🇪 GermanyAdidas32,535,078,209
12🇸🇪 SwedenH&M25,564,163,571

As a result of the success of the company, in 2024, LVMH chairman Bernard Arnault overtook Elon Musk as the richest person in the world.

In second place, Nike generated 68% of its revenue in 2023 from footwear. One of the company’s most popular brands, the Jordan Brand, generates around $5 billion in revenue per year.

The list also includes less-known names like Inditex, a corporate entity that owns Zara, as well as several other brands, and Fast Retailing, a Japanese holding company that owns Uniqlo, Theory, and Helmut Lang.

According to McKinsey & Company, the fashion industry is expected to experience modest growth of 2% to 4% in 2024, compared to 5% to 7% in 2023, attributed to subdued economic growth and weakened consumer confidence. The luxury segment is projected to contribute the largest share of economic profit.

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