In June, Wealth X published its annual report on the world’s population of billionaires.
Using RelSci, a data-driven platform, WealthX looked at a database of 11 million influential individuals and 1.8 million organizations to evaluate and provide insight into where billionaires live based on what they use as their primary business address.
Overall, the report found that 29% of billionaires lived in top cities in 2022.
Almost all of those that made the list were major global cities, proving that the pull of cutting-edge businesses and cultural and lifestyle opportunities remains strong for billionaires.
- New York City
- Hong Kong
- San Francisco
- Los Angeles
New York City topped the list in 2022 with 136 billionaires.
The city’s wealthy population lost two people between 2021 and 2022, but it’s still a global billionaire capital.
New York is home to the world’s largest stock marketsNew York Stock Exchange and Nasdaq, and is also considered the largest regional economy in the US, according to the report.
Like New York, Hong Kong saw a similar drop of just 2 billionaires – now totaling 112.
According to the Wealth X report, wealth portfolios were slightly less exposed Hong Kong on a fluctuating global economyDivided political developments in the region weigh on how attractive it is for billionaires to move their non-financial businesses there.
According to the international ECA survey, Hong Kong is also considered one of them most expensive places for expats in the world.
San Francisco rounds out the top three. The city is home to 84 billionaires, one less than in 2021.
Despite losing a billionaire, San Francisco saw 68% growth. its population of high-value individuals from 2012 to 2022, according to a Henley & Partners report.
According to a March study from Wealth-X and REALM, San Francisco has one very wealthy homeowner for every 505 residents.
Over the past 10 years, San Francisco has become synonymous with Silicon Valley and was one of them fastest growing US cities in 2022. The technology hub starts in the southern part of the San Francisco Bay Area and also includes other cities such as San Mateo, Santa Clara, San Jose, Palo Alto, Cupertino and Mountain View.
Silicon Valley is home to major companies like Apple, Facebook, Google, Twitter, Nvidia and more.
DON’T MISS: Want to be smarter and more successful with your money, work and life? Subscribe to our new newsletter!
Get the free CNBC report, 11 ways to tell if we’re in a recession, where Kelly Evans reviews the main indicators that a recession is coming or has already begun.