Beijing has, for the first time ever, become the new billionaire capital of the world as it houses more billionaires than New York City. According to Forbes’ annual World’s Billionaires List for 2021, the Chinese capital gained 33 new billionaires in 2020, bringing it to a total of 100 billionaires. The Big Apple has 99 billionaires, as it added only seven new billionaires in the same time span.
New York City is 40% of the size of Beijing, with the former having a population of 8.4 million and the latter roughly 21 million. Zhang Yiming, founder of TikTok parent company ByteDance, is Beijing’s rightest resident and is worth $35.6 billion. New York’s wealthiest is ex-mayor Michael Bloomberg whose net worth reaches $59 million.
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