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August 1st, 2016

The majority of the world’s billionaires are in NYC : Report

JULY 27, 2016 12:08PM
by 

Bill and Melinda Gates during their visit to the Oslo Opera House in June 200 (photo credit:

Bill and Melinda Gates during their visit to the Oslo Opera House in June 200 (photo credit: Kjetil Ree via Wikicommons)

It’s not just Billionaire’s Row and Belgravia. A new study conducted by Richard Florida and the Martin Prosperity Institute’s Charlotta Mellander sets out to map this global geography of the super-rich — whose combined wealth exceeded $7 trillion in 2015.

The study used data from Forbes on the more than 1,800 billionaires across the globe, and Florida found that almost a third of the world’s billionaires call the U.S. home.

credit: Isabel Ritchie

credit: Isabel Ritchie

Some 12.2 percent of billionaires are from China, 4.5 percent each from India and Russia, and 4.3 percent from Germany.

Either a point of pride or a symptom of everything wrong with our economic system depending on your point of view, New York City is by far home to more billionaire than anywhere else in the world, according to City Labs.

Some 116 billionaires reside in NYC, followed by the San Francisco with 71, Moscow with 68, Hong Kong with 64, and L.A. with 51.

After that it is London with 50, Beijing with 46, Mumbai with 33, Miami with 31 and Istanbul with 30.

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credit: Isabel Ritchie

 

And number of individuals isn’t the only way in which New York tops the list. NYC also has the richest billionaires, with $537 billion, or 7.6 percent of all global billionaire wealth. San Francisco comes in second with $365 billion, or 5.2 percent, according to the study.


Filed under: EB-5 News