Hurun Global Rich List: Beijing Leads in Terms of Billionaires

What We’re Showing

A ranking of the top 20 cities with the most billionaires in 2023, along with the top countries these cities are located in.

Key Takeaway

Over the last two decades, China has produced a staggering number of ultra-wealthy citizens. Seven of the top 20 cities in this ranking are located in the country.

Additional Context

Centers of economic and political power have always been hotspots for the rich. It's no mere coincidence that six of the top 10 cities with the most billionaires are also home to some of the largest stock exchanges in the world. In other instances, like San Francisco and Shenzhen, billionaires are created by a booming tech sector.

Interestingly, despite sanctions, Moscow still has more billionaires than San Francisco, whose greater Bay Area boasts of the headquarters of Apple, Alphabet, Meta, and many other tech companies.

On a country level, China and the U.S. are together home to half the cities in the top 20. And though China has nearly 3x the number of U.S. billionaires in the top 20, Americans still make up seven of the top 10 richest people in the world.

Hurun Global Rich List—from where these numbers are sourced—puts 2023’s total billionaire tally as: 🇨🇳 China (969) , followed by 🇺🇸 the U.S. (691), and 🇮🇳 India third (187).