The top 15 cities with the most billionaires, ranked
15. Tokyo has the largest share of its country's billionaire population out of all the leading cities.
14. Hangzhou was impacted by negative stock market movements.
Country: China
Number of billionaires: 31
Number of billionaires gained or lost: -1
Growth in the innovation and technology industry has increased Hangzhou's high-net-worth population by 25% in the past five years, according to Knight Frank's "Wealth Report." There are now 26 unicorns — tech companies valued at $1 billion or more — in the city.
13. Istanbul saw a decrease in billionaires because of currency depreciation against the US dollar and negative equity prices.
Country: Turkey
Number of billionaires: 32
Number of billionaires gained or lost: -4
Istanbul's most expensive districts are Besiktas and Sariyer. The luxury lifestyle in the city involves going out and attending after parties in hotel penthouses, reported Jonathan Gorvett of The New York Times.
12. São Paulo is the only city with no change in the number of billionaires.
Country: Brazil
Number of billionaires: 33
Number of billionaires gained or lost: 0
Some of the ultra-rich in São Paulo own homes in Santos' exclusive beach havens, according to Joe Leahy of The Financial Times. They also eat at D.O.M., one of São Paulo's priciest restaurants, reported Alex Cuadros of Independent.
11. Shenzhen has become a tech hub in China, contributing to a rise in wealth among some of its residents.
Country: China
Number of billionaires: 37
Number of billionaires gained or lost: -2
Shenzhen is now one of the top five cities in the world with the most expensive housing, reported Alice Woodhouse of The Financial Times.
T9. Mumbai is a city of imbalance, with a large billionaire population while half of the city's population live in the slums.
Country: India
Number of billionaires: 38
Number of billionaires gained or lost: -1
In Mumbai, the divide between the rich and the poor is further accentuated by the the elite's tendency to show off. According to Aditya Chakrabortty of The Guardian, they've been known to throw lavish Bollywood parties for eight-year-olds.
T9. Dubai has a strong oil industry, leading to wealth accumulation.
Country: UAE
Number of billionaires: 38
Number of billionaires gained or lost: -2
One of the wealthiest parts of Dubai is Dubai Marina, according to Cleofe Maceda of Gulf News. The number of high-net-worth-individuals in Dubai is expected to grow 60% by 2026, according to a Wealth Report from Knight Frank.
T7. Los Angeles billionaires have benefited from strong real estate, equity, and start-up markets.
Country: USA
Number of billionaires: 39
Number of billionaires gained or lost: -2
Los Angeles billionaires grow their wealth by leading a variety of industries, from tech to entertainment, according to the Los Angeles Business Journal. Many are also entrepreneurs.
T7. Singapore saw the biggest decline in billionaires of all cities because of negative equity market performance.
Country: Singapore
Number of billionaires: 39
Number of billionaires gained or lost: -5
In Singapore, limited land makes owning a house the ultimate status symbol, Business Insider's Katie Warren reported. Billionaires spend millions snapping up the island's few single-family homes in secluded, ritzy neighborhoods like Orchard Road and Holland Village.
6. Beijing also suffered from negative equity market performance, but saw a less pronounced decrease in billionaires.
Country: China
Number of billionaires: 55
Number of billionaires gained or lost: -2
Luxury real estate in Beijing offers more traditional Chinese-style homes than Western-style villas to cater to the demand of the elite, Oscar Holland reported for CNN.
5. London saw an increase in its billionaire population thanks to exchange rate developments within its financial sector.
Country: UK
Number of billionaires: 65
Number of billionaires gained or lost: 3
Some London billionaires live on Kensington Palace Gardens, known as Billionaire's Boulevard, the most expensive street in Britain. Here, homes average about $53 million and can cost nearly $260 million, according to real estate agency Knight Frank.
4. Moscow's billionaires benefited from an economy that saw rising investment and higher oil prices.
Country: Russia
Number of billionaires: 70
Number of billionaires gained or lost: 1
Moscow is the homebase for Russia's richest known billionaire — Leonid Mikhelson, CEO of Novatek gas giant, who has an estimated net worth of $24 billion.
3. San Francisco has seen an influx of billionaires across its technology sector.
Country: USA
Number of billionaires: 75
Number of billionaires gained or lost: 1
San Francisco also has more billionaires per inhabitant than any other top city. Several San Francisco tech start-ups are expected to IPO this year, which is expected to increase wealth accumulation in the city.
2. Hong Kong saw a decrease in billionaires last year after suffering a rough year for Asian equities and global trade flows.
Country: Hong Kong
Number of billionaires: 87
Number of billionaires gained or lost: -6
Hong Kong's billionaires live in mansions in secluded neighborhoods like The Peak, bet big money on horse races, and dine at some of the city's 82 Michelin-starred restaurants, Katie Warren previously reported.
1. New York is the world's only city with more than 100 billionaires.
Country: USA
Number of billionaires: 105
Number of billionaires gained or lost: 2
New York City is home to more billionaires than nearly every country in the world, besides China and Germany.
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