Which city is richer Shanghai or Mumbai
RankingMost billionaires live in these cities
The US business magazine Forbes had to remove 58 billionaires from its list of billionaires compared to the previous year. The wealth of the richest people in the world has also fallen by almost a tenth - around 700 billion US dollars - to 8 trillion US dollars compared to the previous year.
In the ten favorite metropolises of the super-rich, however, the decline is hardly noticeable. Because many of them have - albeit few - newcomers. More than a quarter of all billionaires - and thus more than a quarter of the total wealth of all billionaires worldwide - are now concentrated in ten cities. The top four in the Forbes ranking of cities with the most billionaires alone have 228 super-rich.
While a large part of the metropolises was one of the favorite places of residence of the richest in the world in previous years, the current ranking also includes a newcomer. The Korean capital Seoul, which was recently in ninth place, has to leave the ranking this year. Since last year it has ten billionaires fewer. These cities, on the other hand, attract a particularly large number of super-rich:
Most billionaires live in these ten cities
# 10 Singapore
The city-state is home to 31 super-rich and is new to the ranking of cities with the most billionaires. Together, the super-rich of Singapore own a fortune of 95.3 billion US dollars. The richest resident is Zhang Yong, the owner of the Haidilao restaurant chain. Last year, Haidilao shares rose 53 percent in value, according to Forbes. Zhang Yong's net worth has increased by US $ 4.2 billion and is currently at US $ 11 billion.
# 9 San Francisco
37 of the richest people in the world live in San Francisco. This means that the Californian metropolis has five fewer super-rich than in 2019. The remaining billionaires have a combined fortune of 90.7 billion US dollars. IT entrepreneur Dustin Moskovitz accounts for almost a tenth of the assets. Moskovitz is a co-founder of Facebook and still holds 2.3 percent of the shares.
# 8 Mumbai
Mumbai has also lost five billionaires compared to the previous year, but gained six newcomers. These include Abhay Vakil, who heads the largest Indian paint manufacturer Asian Paints, and Madhukar Parekh, CEO of the adhesive and sealant manufacturer Pidilite. The Indian capital has 38 billionaires with total assets of 149.3 billion US dollars. The richest of them is Reliance CEO Mukesh Ambani with a final net worth of $ 52.7 billion. Ambani is also the richest man in Asia.
# 7 Shenzhen
Shenzhen has recently been very popular with self-made billionaires in particular. All five of the new super-rich in the Chinese metropolis owe their fortunes to their own hard work. This means that Shenzhen will have 44 billionaires with assets of US $ 220.2 billion in 2020. It is true that the trade war between China and the United States has also troubled China's billionaires. The wealthiest residents of Shenzhen were still able to grow their wealth by $ 29.7 billion. The richest of them is Tencent CEO Ma Huateng with assets of $ 38.1 billion.
# 6 Shanghai
If it were about their total wealth, the super-rich of Shanghai would be well behind Shenzhen and Mumbai with 130.7 billion US dollars. Nevertheless, the Chinese metropolis has significantly more billionaires than the other two cities - there are 46 in total. They also include Pinduoduo CEO Colin Huang, who currently has assets of $ 35.6 billion. The success of his e-commerce platform during the lockdown in China has more than doubled his net worth since March 23 - by $ 17.9 billion.
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