A new study of the super-rich finds that New York more billionaires than any other city. A study done by the wealth research and consulting firm Wealth-X and UBS says New York had 103 billionaires.
It is followed by Moscow, at 85; Hong Kong at 82; London at 72; and Beijing at 37.
Mumbai, with 28, occupies that 11th spot in the list of top 20 billionaire cities. In total, the study said there are 100 billionaires in India with their combined wealth pegged at $175 billion.
Eight of the top 20 global billionaire cities are located in Asia, "a further indication that Asia is at the beginning of a new cycle in wealth creation," the study said. "And only two of the top 20 cities are located in the United States, despite it being the single largest billionaire country. "
Billionaires choose their residences and business holdings not just because of government regulations, but also because of the unique benefits that a specific location can offer, the study said.
The study cited New York's role as the financial capital of the world as helping the city attract new billionaire financiers. "In addition, certain cities are particularly attractive because of the lifestyle they offer, from cultural attractions to a desirable environment in which to raise a family," the study added.
Source: Wealth-X and UBS
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