San Francisco now has the 3rd-most billionaires of any city in the world, beating out London, Moscow, and Beijing
San Francisco's Sea Cliff neighborhood is an enclave of expensive homes housing some of the city's most prominent — and typically most deep-pocketed — figures.San Francisco is now the third city in the world with the most billionaires, per a new Wealth-X report.San Francisco beat out cities including London, Moscow, and Beijing. New York is No. 1, with 113 billionaires.San Francisco's pool of billionaires has ballooned just a bit more in the past year, according to a new report.
Most billionaires — 788, to be exact — call the US home, beating out China, Russia, and the United Kingdom. Europe, however, leads the ranking when broken down by nationality. The cumulative wealth of American billionaires accounts for 28% of the global billionaire population per the report. New York remains the city with the most billionaires, with Hong Kong clocking in second. And third is San Francisco, the 49-square-mile city in Silicon Valley that's home to much of the region's tech elite. The city gained two billionaires in 2019, bringing its billionaire population to 77.
Moscow, London, and Beijing directly trail behind San Francisco. The only other US city besides New York on the list is Los Angeles, which sits at No. 7 with 44 billionaires. Getty / Drew Angerernotes. Its rise in the ranks is largely thanks to the thriving tech industry and its startup and big tech ecosystems. Tech stocks and initial public offerings have been known to turn founders into millionaires — and even billionaires — seemingly overnight.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Chinese smartphone giant Vivo's 32-floor tower HQ - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
How Quibi is working with influencers, inside its strategy - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
These 15 countries are home to the most billionaires - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Only 10% of billionaires have pledged to donate to coronavirus relief - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
NY Gov. Cuomo postpones indoor dining in New York City indefinitely - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Miami mayor suggests he's willing to shut the city back down amid virus surge - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »