China Takes Four Spots in Wealth-X's Top 15 Billionaire Cities Ranking
Dou Shicong
/SOURCE : yicai
China Takes Four Spots in Wealth-X's Top 15 Billionaire Cities Ranking

(Yicai Global) May 10 -- Hong Kong, Beijing, Shenzhen and Hangzhou are among the top 15 billionaire cities in the world.

London- and New York-based global ultra-high net worth intelligence and data firm Wealth-X reported these research findings in its 2019 Billionaire Census yesterday.

Hong Kong had 87 club members at the end of 2018, down from 93 in 2017, but still clung to the second-highest rung on the list following New York, which had 105. Beijing ranked sixth with 55 of these super-wealthy and Shenzhen eleventh with 37.

The 31 billionaires of Hangzhou, home to e-commerce titan Alibaba, enabled it to leapfrog Tokyo into the 14th slot last year.

Billionaires' wealth declined globally by 7 percent in 2018 and their herd also thinned by 5.4 percent to a 2,604 headcount. This was only the second drop in their ranks since the financial crisis of a decade ago.

Many factors precipitated this fall, including stalling global growth, nagging trade tensions and a late-year slump in equity markets, while a related beefing up of the US dollar also sluiced capital from emerging markets.

North America alone logged a swelling billionaire population, while the Asia-Pacific that led billionaire growth in 2017 posted the largest decline last year at 13.4 percent.

Editor: Ben Armour

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Keywords: Billionaires , Hong Kong , Beijing , Shenzhen , Hangzhou