Cities with the Most Billionaires, 2011# Stock
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Cities with the Most Billionaires, 2011
By Morgan Brennan, Forbes.com
May 24, 2011
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When the U.S. economy was riding high for most of the 20th century, it would
have been impossible to imagine a foreign city--especially one in a
Communist country--with more of the planet's very richest than New York,
home of old-money Wall Street. But that indeed is the case. Today Moscow is
the city with the most billionaire residents in the world.
The Russian capital boasts 79 billionaires, a stunning increase of 21 in
just one year. That more than edges out No. 2 New York, with 59 billionaires
, and No. 3 London with 41. Other cities in the top 15 include such rising
stars as Mumbai, Taipei, Sao Paolo and Istanbul. Los Angeles manages a tie
for No. 8.
The combined fortunes of Moscow's billionaire population top $375 billion,
more privately amassed wealth than in any other city in the world.
In Pictures: Billionaire CitiesIn Pictures: Billionaire Cities
Despite New York's relegation to second place, the city remains a favored
locale of billionaires, whose collective net worth is $221 billion. The Big
Apple boasts some of the most expensive ZIP codes in the U.S., due in part
to the real estate prices paid by billionaires in this city. Indeed, many
Moscow residents own secondary homes in New York, including fertilizer and
coal magnate Andrey Melnichenko, whose wife recently closed on a $12.2
million penthouse apartment. Even the world's richest man, Carlos Slim (home
To compile our list, we tallied the primary residences of all 1,210
billionaires on the 2011 Forbes World's Billionaires list, our annual
assessment of people sporting seven-figure or higher fortunes in U.S.
dollars. We did not take secondary homes into account for this list.
In the U.S. we stuck strictly to city limits. For example, while a
smattering of prominent media barons like Viacom founder Sumner Redstone and
T.V. tycoon Haim Saban reside in Beverly Hills, they are not included in
the pile of Los Angeles residents since Beverly Hills is its own city (
although largely surrounded by Los Angeles).
Here are the the world's five top cities for billionaires:
Istanbul, Turkey scores No. 5.
Photo: Thinkstock
No. 5: Istanbul
Number of Billionaires: 36
Total combined wealth: $60.5 billion
Billionaires include: Turkey's richest person, Mehmet Emin Karamehmet,
chairman of mobile phone company Turkcell; Turkey's former richest, finance
and retail scion, Husnu Ozyegin; and Macedonian-born Sarik Tara, founder of
construction giant, ENKA.
Hong Kong scores No. 4.
Photo: Thinkstock
No. 4: Hong Kong
Number of Billionaires: 40
Total combined wealth: $176.8 billion
Billionaires include: Greater China's richest person, Hutchison Whampoa
chairman Li Ka-shing; the Kwok family, the brothers behind Hong Kong's
largest real estate developer, SHKP; and Angela Leong, the controversial
heiress of Stanley Ho's casino empire.
London scores No. 3.
Photo: Thinkstock
No. 3: London
Number of Billionaires: 41
Total combined wealth: $164.3 billion
Billionaires include: Indian citizen Lakshmi Mittal, the world's sixth-
richest man thanks to steel-maker ArcelorMittal; daredevil Virgin founder
Richard Branson; and Philip & Christina Green, the married couple behind
clothing company Topshop.
New York City scores No. 2.
Photo: Thinkstock
No. 2: New York
Number of Billionaires: 59
Total combined wealth: $220.8 billion
Billionaires include: media mogul and current mayor Michael Bloomberg;
fashion designer Ralph Lauren; and real estate developer-turned-reality T.V.
celebrity Donald Trump.
Moscow scores No. 1.
Photo: Thinkstock
No. 1: Moscow
Number of Billionaires: 79
Total combined wealth: $375.3 billion
Billionaires include: Russia's richest man, steel magnate Vladmimir Lisin;
commodities investor and Chelsea soccer team owner Roman Abramovich; and
venture capitalist and Facebook investor Yuri Milner.
http://realestate.yahoo.com/promo/cities-with-the-most-billiona
By Morgan Brennan, Forbes.com
May 24, 2011
Provided by:
tweet275
Send
When the U.S. economy was riding high for most of the 20th century, it would
have been impossible to imagine a foreign city--especially one in a
Communist country--with more of the planet's very richest than New York,
home of old-money Wall Street. But that indeed is the case. Today Moscow is
the city with the most billionaire residents in the world.
The Russian capital boasts 79 billionaires, a stunning increase of 21 in
just one year. That more than edges out No. 2 New York, with 59 billionaires
, and No. 3 London with 41. Other cities in the top 15 include such rising
stars as Mumbai, Taipei, Sao Paolo and Istanbul. Los Angeles manages a tie
for No. 8.
The combined fortunes of Moscow's billionaire population top $375 billion,
more privately amassed wealth than in any other city in the world.
In Pictures: Billionaire CitiesIn Pictures: Billionaire Cities
Despite New York's relegation to second place, the city remains a favored
locale of billionaires, whose collective net worth is $221 billion. The Big
Apple boasts some of the most expensive ZIP codes in the U.S., due in part
to the real estate prices paid by billionaires in this city. Indeed, many
Moscow residents own secondary homes in New York, including fertilizer and
coal magnate Andrey Melnichenko, whose wife recently closed on a $12.2
million penthouse apartment. Even the world's richest man, Carlos Slim (home
To compile our list, we tallied the primary residences of all 1,210
billionaires on the 2011 Forbes World's Billionaires list, our annual
assessment of people sporting seven-figure or higher fortunes in U.S.
dollars. We did not take secondary homes into account for this list.
In the U.S. we stuck strictly to city limits. For example, while a
smattering of prominent media barons like Viacom founder Sumner Redstone and
T.V. tycoon Haim Saban reside in Beverly Hills, they are not included in
the pile of Los Angeles residents since Beverly Hills is its own city (
although largely surrounded by Los Angeles).
Here are the the world's five top cities for billionaires:
Istanbul, Turkey scores No. 5.
Photo: Thinkstock
No. 5: Istanbul
Number of Billionaires: 36
Total combined wealth: $60.5 billion
Billionaires include: Turkey's richest person, Mehmet Emin Karamehmet,
chairman of mobile phone company Turkcell; Turkey's former richest, finance
and retail scion, Husnu Ozyegin; and Macedonian-born Sarik Tara, founder of
construction giant, ENKA.
Hong Kong scores No. 4.
Photo: Thinkstock
No. 4: Hong Kong
Number of Billionaires: 40
Total combined wealth: $176.8 billion
Billionaires include: Greater China's richest person, Hutchison Whampoa
chairman Li Ka-shing; the Kwok family, the brothers behind Hong Kong's
largest real estate developer, SHKP; and Angela Leong, the controversial
heiress of Stanley Ho's casino empire.
London scores No. 3.
Photo: Thinkstock
No. 3: London
Number of Billionaires: 41
Total combined wealth: $164.3 billion
Billionaires include: Indian citizen Lakshmi Mittal, the world's sixth-
richest man thanks to steel-maker ArcelorMittal; daredevil Virgin founder
Richard Branson; and Philip & Christina Green, the married couple behind
clothing company Topshop.
New York City scores No. 2.
Photo: Thinkstock
No. 2: New York
Number of Billionaires: 59
Total combined wealth: $220.8 billion
Billionaires include: media mogul and current mayor Michael Bloomberg;
fashion designer Ralph Lauren; and real estate developer-turned-reality T.V.
celebrity Donald Trump.
Moscow scores No. 1.
Photo: Thinkstock
No. 1: Moscow
Number of Billionaires: 79
Total combined wealth: $375.3 billion
Billionaires include: Russia's richest man, steel magnate Vladmimir Lisin;
commodities investor and Chelsea soccer team owner Roman Abramovich; and
venture capitalist and Facebook investor Yuri Milner.
http://realestate.yahoo.com/promo/cities-with-the-most-billiona