ong Kong has surpassed New York City as the home to the world’s most “ultra-rich people,” according to a new wealth survey.
About 10,000 people who are worth at least $30 million live in the former British colony, research firm Wealth-X found, compared to a mere 9,000 such people in the Big Apple. Hong Kong has seen the number of its “ultra-rich” residents rise by 31 percent since last year.
Here’s the world’s top 10:
- Hong Kong
- New York
- Los Angeles
- San Francisco
- Washington DC
You might notice that no mainland Chinese city is to be found on that top-10 list. This is because while China ranks third in terms of ultra-rich residents, its wealthy are spread out more evenly across the country. 26 of the top 30 fastest-growing cities for the ultra-rich are found in China.
Though, when you go up from the ultra-rich to billionaires, the same thing does not hold true. In 2016, Beijing became the billionaire capital of the world, surpassing New York, a position that it has held for the past three years, even continuing to widen the gap between it and the American financial center.
Last year, US added 19 new billionaires while Greater China added 210.