Asia now home to most number of billionaires, report says.
‘I wanna be a billionaire so freakin’ bad,’ Bruno Mars once crooned. Well if he really wants to become one, then he should to move to Asia, which is now home to the most number of billionaires, according to the latest Hurun Global Rich List.
‘Asia is now home to the lion’s share of billionaires on the planet with 608 individuals, said the report, followed by North America with 440 and Europe with 324. China alone has 317.
In terms of cities, Moscow is home to the greatest number of billionaires with 76, followed by New York (70), Hong Kong (54), Beijing (41) and London (40).
The world has at least 1,453 billionaires, with about half of those residing in the U.S. and China, according to Shanghai-based Hurun. However, it estimates that for every billionaire it has found, it misses at least two. Hence there are probably 4,000 billionaires in the world.
According to the report, the billionaires on the list account for US$5.5 trillion in personal wealth – roughly equivalent to Japan’s GDP, the world’s third largest economy.
‘This past year has seen a rebound in the wealth of private sector,’ Hurun stated. ‘Stock markets in the USA have risen and the US dollar has gotten stronger, rising against the Brazilian real by 19%, Indian rupee by 12% and Japanese yen by 6%, making it harder for locals to make the cut-off.’
According to Hurun, real estate, TMT (technology, media and telecommunications), investments and retail are the most common sources of wealth among the world’s billionaires, with real estate dominated by the Chinese.
Cities with the most number of billionaires
Moscow – 76
New York – 70
Hong Kong – 54
Beijing – 41
London – 40
Istanbul – 26
Mumbai – 24
Shanghai – 24
Paris – 23
Shenzhen – 22
Taipei – 22