Wealth

Charted: Which City Has the Most Billionaires in 2024?

Published

1 week ago

April 25, 2024

Pallavi Rao

See this visualization first on the Voronoi app.

Charted: Which Country Has the Most Billionaires in 2024?

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.

Some cities seem to attract the rich. Take New York City for example, which has 340,000 high-net-worth residents with investable assets of more than $1 million.

But there’s a vast difference between being a millionaire and a billionaire. So where do the richest of them all live?

Using data from the Hurun Global Rich List 2024, we rank the top 20 cities with the highest number of billionaires in 2024.

A caveat to these rich lists: sources often vary on figures and exact rankings. For example, in last year’s reports, Forbes had New York as the city with the most billionaires, while the Hurun Global Rich List placed Beijing at the top spot.

Ranked: Top 20 Cities with the Most Billionaires in 2024

The Chinese economy’s doldrums over the course of the past year have affected its ultra-wealthy residents in key cities.

Beijing, the city with the most billionaires in 2023, has not only ceded its spot to New York, but has dropped to #4, overtaken by London and Mumbai.

Rank	City	Billionaires	Rank Change YoY
1	🇺🇸 New York	119	+1
2	🇬🇧 London	97	+3
3	🇮🇳 Mumbai	92	+4
4	🇨🇳 Beijing	91	-3
5	🇨🇳 Shanghai	87	-2
6	🇨🇳 Shenzhen	84	-2
7	🇭🇰 Hong Kong	65	-1
8	🇷🇺 Moscow	59	No Change
9	🇮🇳 New Delhi	57	+6
10	🇺🇸 San Francisco	52	No Change
11	🇹🇭 Bangkok	49	+2
12	🇹🇼 Taipei	45	+2
13	🇫🇷 Paris	44	-2
14	🇨🇳 Hangzhou	43	-5
15	🇸🇬 Singapore	42	New to Top 20
16	🇨🇳 Guangzhou	39	-4
17T	🇮🇩 Jakarta	37	+1
17T	🇧🇷 Sao Paulo	37	No Change
19T	🇺🇸 Los Angeles	31	No Change
19T	🇰🇷 Seoul	31	-3

In fact all Chinese cities on the top 20 list have lost billionaires between 2023–24. Consequently, they’ve all lost ranking spots as well, with Hangzhou seeing the biggest slide (-5) in the top 20.

Where China lost, all other Asian cities—except Seoul—in the top 20 have gained ranks. Indian cities lead the way, with New Delhi (+6) and Mumbai (+3) having climbed the most.

At a country level, China and the U.S combine to make up half of the cities in the top 20. They are also home to about half of the world’s 3,200 billionaire population.

In other news of note: Hurun officially counts Taylor Swift as a billionaire, estimating her net worth at $1.2 billion.

Related Topics:top 1%New Delhi billionaire residences UHNWIs cities with most billionaires Mumbai Moscow Los Angeles beijing london new york rich list billionaires shenzhen shanghai hong kong cities

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Charted: Which Country Has the Most Billionaires in 2024?

According to the annual Hurun Global Rich List, the U.S. and China are home to nearly half of the world’s 3,279 billionaires in 2024.

Published

5 days ago

April 28, 2024

Pallavi Rao

A cropped chart showing the top countries with the most number of billionaires in 2024, sourced from the annual Hurun Global Rich list.

Charted: Which Country Has the Most Billionaires in 2024?

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.

The world has always had people with incredible wealth: from Roman emperors to John D. Rockefeller who became the world’s first billionaire in measurable dollars. But where do the very wealthiest people live right now?

We visualize the countries with the most billionaires in 2024, sourced from the annual Hurun Global Rich list. A country and city aggregate is also available here.

A caveat to this data. Total wealth estimates are notoriously difficult to get right, and different sources can vary in their billionaire data. For example, Forbes, switches ranks for the U.S. and China, though the overall top three remain the same.

Forbes also has Bernard Arnault as the current richest individual, while Hurun places Elon Musk atop the ranks. Nevertheless, their overall top 10 is similar with a few ranking differences.

Ranked: Countries with the Most Billionaires in 2024

China has 814 billionaires, the most in the world, according to the Hurun Global Rich List 2024. Despite holding on to the top spot, China lost 155 billionaires year-over-year, while the U.S. gained 109. The gap between the two countries has now reduced to just 14 billionaires.

Rank	Country	Billionaires	Change YoY
1	🇨🇳 China	814	-155
2	🇺🇸 U.S.	800	+109
3	🇮🇳 India	271	+84
4	🇬🇧 UK	146	+12
5	🇩🇪 Germany	140	-4
6	🇨🇭 Switzerland	106	+6
7	🇷🇺 Russia	76	+6
8	🇮🇹 Italy	69	+11
9	🇫🇷 France	68	-4
10	🇧🇷 Brazil	64	+13
11	🇨🇦 Canada	53	+8
12	🇹🇭 Thailand	49	+3
13	🇮🇩 Indonesia	47	+12
14	🇦🇺 Australia	45	0
15	🇯🇵 Japan	44	+12
16	🇸🇬 Singapore	42	+5
17	🇰🇷 South Korea	37	+4
18	🇮🇱 Israel	29	+9
19	🇪🇸 Spain	27	+1
20	🇸🇪 Sweden	25	-2
N/A	🌍 Other	327	N/A

Together, the U.S. and China account for nearly half of the 3,279 billionaires globally, leagues ahead of closest peers, #3 India (271) and #4 UK (146).

Collectively however, European countries account for six of the top 10 and eight of the top 20 countries with the most billionaires.

Naturally, the world’s largest economies tend to be overrepresented on billionaire counts, as they provide more opportunities for wealth creation.

Switzerland, Singapore, and Sweden are outliers in this regard, with only one of them making the top 20 economies by total gross domestic product.

All three countries are perceived to have high tax rates, generally not conducive to amassing wealth. But perceptions can be misleading. Sweden, for example, has no inheritance tax, a flat rate on capital gains, and a corporate tax rate at 21%.