According to a Forbes ranking, Beijing is now classified as the city where most billionaires in the world live.
While last year 33 billionaires lived in China’s capital, this year the amount rose to 100.
With this ranking Beijing has now surpassed New York by a whisker, which has 99 resident billionaires. This is the first time in seven years that New York has not ranked first.
This increase in billionaires could possibly be attributed to the effective way in which China has controlled the pandemic and the rise in its technology and financial markets companies.
Although more billionaires live in Beijing than New York, their combined wealth is $ 80 billion less than that of Americans.