Beijing overtakes NYC as world’s new billionaire capital

    There may be formally a brand new billionaire capital on the earth. For the primary time, based on 2021 in Forbes’ annual World Billionaires record, Beijing is residence to extra billionaires than New York Metropolis.

    The Chinese language capital has gained 33 new billionaires in 2020, bringing in a complete of 100 billionaires and simply excluding New York Metropolis’s 99 billionaires per Forbes. The Massive Apple added solely seven new billionaires in a single time interval. By way of complete inhabitants, New York Metropolis is about 40% of Beijing’s measurement, 8.4 million vs. Beijing’s inhabitants of about 21 million.

    Beijing’s richest resident Tiktok is Zhang Yiming, founding father of mum or dad firm BiteDance, which is valued at $ 35.6 billion. In New York Metropolis, former Mayor Michael Bloomberg is the richest, with a web price of $ 59 million.

    The founder of Tickcock is Zhang Yiming

    Tiktok founder Zhang Yiming is the richest resident of Beijing, with a web price of $ 35.6 billion.

    VCG / VCG by way of Getty Picture

    America has lengthy been residence to extra billionaires than some other nation on the earth, however China has come to grips. In keeping with a Forbes report, China and Hong Kong have mined 210 new billionaires up to now yr.

    5 billion cities rank among the many 10 cities with essentially the most billionaires, with 80 billionaires in third place with Particular Administrative Area Hong Kong, fifth with 68 and Shenzhen with 64.

    The one American metropolis to make it to the record was San Francisco, which was eighth with 48 billionaires.

    The world’s ultra-rich grew to become wealthy final yr regardless of an epidemic and financial downturn. Globally, 660 folks grew to become new billionaires, bringing the entire to 2,755 billionaires on the earth, valued at $ 13.1 trillion per Forbes.

    The COVID-19 epidemic has revealed the distinction between the world’s billionaires and everybody else. For instance, within the US, the epidemic grew by 44% of rich billionaires, Lina Batraggs not too long ago reported for Insider. In the identical time interval, 80 million People misplaced their jobs and about 8 million slipped into poverty.

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