There are lots of ways to become rich these days. Of course, there’s the more “traditional” route of being a movie or television star, or writing a best-selling album and touring the country to promote your work. These days, however, tech-savvy geniuses who come up with great ideas that make our lives easier (or just a little more fun) are achieving celebrity status as well.
Of course, there are also those who were born into money and will pretty much be rich for the rest of their lives. These are likely some of the people you see on reality shows or at major Hollywood events, but you wonder “what exactly does he/she do?” Billionaires also achieve their status by working hard and growing their businesses, while getting sound financial advice and diversifying their portfolios.
Whether you prefer billionaires who got their fortunes similar to the way Steve Jobs did, or you think billionaires who have gone the “Kardashian” route to achieve wealth are more interesting, one thing is for sure: most people are completely curious to know how one person can make that much money. Here are 12 cities with the highest number of billionaires.
12 Tokyo - 16 Billionaires
Tokyo has 16 billionaires who call the city home. However, Tokyo was also the city with the most millionaires by the end of 2012, and most of the millionaires in the city made at least $30 million. There are currently about 26 billionaires in the city of Tokyo, and they make an average of $71 billion. Tokyo is the leading industrial city in Japan, and there are a number of management and finance centers in the area. Many of the wealthy people in the city know lots about stocks and bonds, are owners of banks or have started lucrative financial institutions.
11 Los Angeles - 22 Billionaires
Whether you’re looking at Los Angeles County or Orange County and the surrounding neighborhoods, it’s safe to say there are a number of billionaires in Los Angeles. 22 to be exact. There are also several different ways that these successful businesspeople make their money. They include Patrick Soon-Shiong, who is worth around $8 billion, and made his money selling two major drug companies. One of the companies, NantWords, has algorithms that analyzes a human genome in 47 seconds, and the company is developing two medications to treat cancer. Eli Broad is another L.A. billionaire. He’s known for buying Sun Life Insurance and selling it to AIG for $18 billion in stock and cash.
10 Sao Paolo - 25 Billionaires
Sao Paolo is home to a number of telecommunications and automotive companies. The city is also well known for its pharmaceutical, beauty and fashion industries. Clearly, there are lots of ways to become a billionaire in Sao Paolo that don’t involve tourism, even though the city does make a significant amount of money from vacationers who visit there. There are 25 billionaires in the city, and the average billionaire in Sao Paolo is worth around $4.6 billion. There is also a booming electronics and computer industry, and many billionaires are investing in this industry, since it looks like technology is going to be a lucrative market for years to come.
9 Istanbul - 28 Billionaires
The city of Istanbul is home to about 28 billionaires. The net worth of the billionaires is around $48.7 billion, and the average billionaire in the city has a net worth of $1.62 billion. Istanbul is considered one of the “poorer” cities in the world, but the income of these wealthy individuals is still more than most people could dream of making. Some of the wealthiest people in the city include Husnu Ozyegin, who sold his company Finansbank, to the National Bank of Greece for $2.76 billion, and Ferit Sahenk, who was paid $1.6 billion for 25% of Garanti Bank, the third largest bank in Turkey.
8 Seoul - 29 Billionaires
Tourism and computers are big business in Seoul, and there are also various aspects of the technology industry that are thriving in the city as well. Some of the wealthiest individuals in Seoul include Lee Seo-Hyun, who is a prominent businesswoman in the computer and tourism industries. She is a resident of Seoul and is currently worth around $2.3 billion. Shin Dong-Bin has made a name for himself in the retailing industry, and has a net worth of around $2 billion. Many of the billionaires in the city also make their money in the food and beverage industries, and a number of these savvy business people invest in Seoul’s construction industry. Seoul is home to 29 billionaires.
7 Mumbai - 33 Billionaires
Mumbai is home to 33 of the 68 billionaires who live in India. The Knight Frank Wealth Report for 2015 also ranked Mumbai number 6 on the list of 20 cities around the world. The report also indicates that wealth in India is expected to double over the next ten years. Real estate companies, as well as restaurants and software companies, are prevalent in Mumbai. There are also major banks in the city, as well as entertainment companies. The variety of industries in Mumbai indicates that there are lots of ways for actors, singers and business people to make substantial money if they manage their funds properly.
6 Dubai - 34 Billionaires
According to Forbes, about one-third of the richest people in the Middle East are related to each other. This just goes to show how beneficial it is for people to learn financial management tips from their older family members. Sheikh Ahmed Bin Saeed Al Makthoum is among Dubai’s richest men, and he was born into the royal family (he is the son of the former ruler of Dubai). He is worth around $18 billion. Abdullah bin Ahmad Al Ghurair is another prominent businessman in the UAE with family connections, and he has made prominent business moves in the construction and retail industries. Dubai is home to 34 billionaires
5 Beijing - 45 Billionaires
About 1% of the people living in China are billionaires from Beijing. 45 to be exact. Since the stock market crash, it’s been a bigger challenge to be so wealthy and manage funds properly. The anti-corruption campaign in the country has also made it more challenging for party leaders to acquire and maintain wealth. Some of the richest people in Beijing include Zhang Xin and Pan Shi Yi, who are likely the biggest commercial property developers in the country of China. The pair bid for the General Motors building in New York, and have a firm called Soho China, which has seen a 21% increase in assets and wealth as of 2013. The pair are the 10th richest business people in Beijing.
4 London - 46 Billionaires
46 of the world’s billionaires live in London. Their average net worth is around $133.7 billion, and the average London billionaire makes $3.43 billion. There are also some reports that the number of billionaires in London has more than doubled, as some sources say that around 80 people who are billionaires call the city home. Some of the richest people in the city include Lakshmi Mittal, who is a steel mogul from India who has a fortune of over $23 billion. David Reuben is also a billionaire based in London. Combined with the wealth from his brother Richard, he has a net worth of about $3.6 billion.
3 Hong Kong - 64 Billionaires
Hong Kong has a number of wealthy individuals, and a number of them have made their money in real estate. Of course, there are several booming industries in the city, so some of the billionaires and millionaires there have also acquired their fortunes through diversified interests. There are also businessmen like Lui Che Woo, who has made his billions opening and operating casinos in Hong Kong. These businesses, of course, are a tourist attraction where people “try their luck” when they’re feeling particularly adventurous. Woo is currently worth $8.9 billion. Hong Kong is also home to Joseph Tsai, who has made his $5 billion fortune in e-commerce. Hong Kong is home to 64 billionaires
2 Moscow - 68 Billionaires
When it comes to money in Moscow, names like Alisher Usmanov and Viktor Vekselberg come to mind. These men are both self-made billionaires, and have large companies and business deals to prove how savvy they are with money. Vekselberg is the owner of Russian conglomerate Renova Group, and Usmanov is the richest man in Russia, with a $14.7 billion fortune that includes Digital Sky Technologies and FIE. Moscow is one of the cities in the world that houses the most billionaires, since there are 68 billionaires living there, with a net worth of $333.9 billion, and an average billionaire net worth of $4.78 billion.
1 New York City - 78 Billionaires
As of 2015, New York City has 78 billionaires, which is more than any other city in the entire world. Those who have lots of cash in the city include Michael Bloomberg, who is the former mayor of the city. Rupert Murdoch, who is a media mogul, is also among the group of New York billionaires. There are also successful business people from other parts of the world who travel to New York in order to further develop their fortunes and make new business deals. Even though there are 541 billionaires scattered around the United States, most of them have chosen New York as home for the professional opportunities and the culture that the city provides.