10 cities with the most billionaires - taulaentitatssarria.cat

The global economy remained sluggish for most people last year, struggling with inflation and cost-of-living crises. For one demographic, however, financial success remains as attainable as ever: the number of billionaires in the world has increased again in 2023.

According to Altrata’s 2024 Billionaire Census, the total wealth of the global billionaire class increased 9% to a record-breaking $12.1 trillion last year. At the same time, the number of billionaires increased by 4% to 3,323 individuals.

And while there have been several reports this year suggesting that billionaires are leaving their traditional strongholds due to political instability and changing laws, the Altrata report indicates that much of the world’s ultra-high net worth population is staying put in the exact same places. Twenty-eight percent of the global billionaire population lives in just fifteen cities, all of which were included in Altrata’s previous ranking of cities where the ultra-rich live.

Regions growing their ultra-high net worth populations include India – where the number of billionaires increased by 16% – and North America, where the number of billionaires increased by 9.9%.

“North America was home to 1,111 billionaires in 2023, one-third of the global billionaire population,” the Altrata report said. The continent experienced “the fastest growth of any region, increasing its global share to 33.4%. The combined wealth of the billionaire class rose 15.7% to just over $5 trillion, more than the annual GDP of Germany, the world’s third-largest economy.”

While US cities were most heavily represented in Altrata’s ranking of the ten cities with the most billionaires, Asia was the continent most heavily represented – with five cities in the top ten.

Read on to discover which cities have the largest billionaire populations.