Money

Only two European cities among the top 15 choices of billionaires

The 2019 Wealth-X Billionaire Census revealed that there only two cities among the 15 with the highest number of billionaires: London and Moscow.

On top, of course, there is New York, followed by Hong Kong and San Francisco, but the California city holds a record of its own: it has the highest number of billionaires per inhabitant.

Moscow came in a very prominent fourth, ahead of London and Beijing.

But seemingly it’s not all a bed of roses for billionaires: their number declined by 7 percent in 2018 after a 5.4 percent decline in 2017.

The Wealth-X census also showed that the world’s billionaires (2,604 to be exact) have a combined wealth of nearly US$5 trillion and over half of them (55.8 percent) are self-made.

Amazon CEO Jeff Bezos said his company’s fast rise to the top was the result of not having to do any “heavy lifting”.

“All of the heavy-lifting infrastructure was already in place for it. There was already a telecommunication network, which became the backbone of the internet. There was already a payment system — it was called the credit card. There was already a transportation network called the US Postal Service, and Royal Mail, and Deutsche Post, all over the world, that could deliver our packages,” Bezos said.

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