Beijing overtakes New York City as The New Billionaire Capital

After holding the title for seven years, New York City has lost its position as the city with the most billionaires to Beijing.

Beijing has a total of 100 billionaires to New York City’s 99 with TikTok founder Zhang Yiming leading the way with $35.6 million net worth. China’s capital also gained 33 billionaires from last year.

Although Beijing has the most billionaires, their combined wealth stands at $484.3 billion compared to NYC’s total of $560.5 billion as Hong Kong is in third place with 80 billionaires.

Source: Hypebeast