In recent years, there has been a migration of millionaires not only between countries but also between cities in the same country, in compliance with the fiscal policies of major centers of wealth.

But within the richest group in each country, there is also a small group of billionaires whose assets exceed a billion dollars, which is much better defined. Where are the centers of global wealth?. Where will the world’s ultra-rich live in 2024?

According to the latest data of the Hurun Global Rich List 2024, which can be considered the Asian equivalent of the Forbes millionaires list, the assets of 3,279 ultra-rich people from around the world on this list increased by 9% in 2023. He accumulates a total wealth of $15 billion.

Visualcapitalist portal used data from the Hurun report to create this chart that represents it in a very visual way. How are each country’s billionaires distributed? and the cities with the largest populations of ultra-wealthy residents.

Cities with the world’s most ultra-rich

One of the best examples of the wealth gap between millionaires (those with investment wealth of at least $1 million) and the ultra-rich is found in New York City. According to the data in the World’s richest cities 2023 Report prepared by the consultancy firm Henley & Partners, Approximately 340,000 millionaires live in New YorkAs we see in the other chart.

However, when it comes to the population with a net worth above billionaires, this figure drops to 119. They are the richest among the richest. The American city took the lead, moving up one place compared to the previous list. London comes in second with 97 billionaires registered in the census. British capital gained three positions compared to the previous year.

Indian cities saw the biggest increase in local fortunes. It is a faithful reflection of the industrial and technological interest generated by the country, which received part of the technological industrial sector that left China to avoid blockades.

Cities like Mumbai moved up four places to third place, with 92 residents worth more than a billion dollars. In ninth place is New Delhi, with 57 billionaires, up six places compared to last year.

China is the other side of the coin, unlike India. China blames real estate crisis Flight of industries to other countries Although it has suffered a serious blow in this sense, Beijing, the capital of China, ranks fourth with 91 ultra-rich people, followed by Shanghai with 87 rich people and Shenzhen, the capital of the southern technology industry. There are 84 thousand millionaires in the census.

Moscow maintains its position with 59 thousand millionaires in eighth place; San Francisco ranks tenth with 52 ultra-rich people among its residents. Brazilian Sao Paulo, with 37 billionaires, and Los Angeles, with 31 billionaires, close the group of unchanged cities, occupying eighteenth and nineteenth places respectively.

Singapore is a new addition to the list of cities with the largest population, with a population of over one billion. It ranks directly in fifteenth place with 42 ultra-millionaires. Paris, home to 44 billionaires The only city in the European Union Even though France has around 2.8 million millionaires, compared to 2.6 million in the UK, it still manages to make it into the top 20 cities with the world’s ultra-rich.

It is worth noting that despite the changes in position on the list, all of them have lost their ultra-rich population in the last year. All this despite the fact that the world’s largest fortunes plan to increase their assets in 2024.

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Image | VirtualCapitalist.com