Where Do The 1% Live?
Have you ever wondered where exactly the richest people in the world live? According to data from Forbes, there were 1,810 billionaires in the world in 2016, coming from 67 different countries, but they don’t all live in the countries in which they were born.
Here are the top 25 cities in which these super-rich people live.
According to statistics, 22 billionaires live in Paris, making it one of the most billionaire-dense places in the whole of Europe. For years, Paris has been the most charming city in the whole of Europe, attracting wealthy people from far and wide, thanks to its unique culture and history, as well as the fact that companies like Enness International make it easy for rich people to move there.
Now the city is famous for being the home to the richest woman in Europe, Liliane Bettencourt, the daughter of the founder of L’Oreal, Eugene Schueller. Liliane herself is estimated to be worth more than $36.1 billion. Back in 2015, eight people were found guilty by a French court for trying to swindle the 94-year-old out of millions of euros. Bettencourt, along with the other 21 billionaires in Paris are estimated to have a net worth of more than $147.9 billion.
If you’ve ever wondered why house prices in San Francisco never seem to stop going up, it’s population of billionaires might have something to do with it. Currently, the city is home to 28 billionaires, the richest among whom is Dustin Moskovitz, worth an estimated $8.9 billion. The majority of San Francisco’s super-rich made their money in technology, including Moskovitz himself who founded the workflow software company. Asana.
However, Moskovitz is more of a savvy investor than he is an entrepreneur. The majority of his cash actually came from his stake in Facebook, which took off like a rocket in 2009 and 2010, and continues to be one of the most valuable companies in the world to this day. The total net worth of all the billionaires in the city is $77 billion.
Mumbai is one of India’s fastest-growing cities. It’s not often associated with affluence, but it’s home to around 32 billionaires with a combined worth of more than $115 billion.
Most of the city’s wealth comes from the oil industry. The richest man in the city, Mukesh Ambani is worth $19.3 billion, and he makes his money through his shares in the region’s oil and gas companies. Recently, with falling oil and gas prices, billionaires in the city have seen their worth drop slightly. Now many of them are moving into telecommunications industries and 4G to recoup their losses.
The Big Apple is a city with more billionaires than any other, topping the charts with 79. The richest many in the City is Michael Bloomberg who amassed a $40 billion fortune through his media enterprise. He is also a former mayor of the city. Most billionaires in New York made their millions in the finance industry.
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