Breaking News: Beijing overtakes New York City as a Billionaire Capital

Beijing is the new “Billionaire Capital of the World”. According to the latest research more billionaires now live in the Chinese capital of Beijing than previous titleholder New York City.

There are now 100 billionaires living in Beijing according to Hurun, a Shanghai-based company that releases yearly data on the world’s rich and their spending habits. By comparison there are now “only” 95 billionaires living in New York. 

Beijing took the title from New York after minting 32 new billionaires last year, while New York gained four. 

Moscow came in third place, with 66 billionaires, while Hong Kong and Shanghai came in fourth and fifth with 64 and 50, respectively.

Courtesy: India today