New York has produced more than twice the number of billionaires than any other city, new research has revealed, with a whopping 52 individuals hailing from America’s financial capital.
According to Spear’s Magazine and WealthInsight’s Top 25 Global Cities Where Billionaires Are Born, New York has birthed 30 more billionaires than its nearest competitor Moscow, which narrowly bet London to second place with a billionaire headcount of 22.
New York’s wealthiest billionaires include Koch Industries second-gen David Koch, media magnate Michael Bloomberg, and hedge funder George Soros, who have a combined wealth of $67 billion.
London only has 21 home-grown billionaires, the research says, despite this year’s Sunday Times Rich List revealing more than 100 individuals with this level of wealth lived in the city.
Spear's editor Josh Spero said London's status as a global business hub meant billionaires would naturally flock to the city, but it “should always want to produce more of [its] own”.
The top five cities – New York, Moscow, London, Hong Kong, and Paris – have produced at least 10 billionaires, and are followed by the likes of Rio de Janeiro, with nine, and Taipei, with eight.
A 2014 WealthX study revealed the US has the most billionaires of any other country, with 515, accounting for a combined net worth of $2,064 billion (€1,555 billion).