Beijing now has more billionaires than any city

By BBC news3 days ago

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Beijing is now home to more billionaires than any other city in the world, according to the latest Forbes' annual rich list.

The Chinese capital added 33 billionaires last year and now hosts 100, said the business magazine.

This narrowly beats New York City, which hosts 99 and has held the top ranking for the last seven years.

China's quick containment of Covid-19, the rise of its technology firms and stock markets helped it gain top spot.

Although Beijing now has more billionaires than the Big Apple, the combined net worth of New York City's billionaires remained US$80bn (58bn) greater than that of their counterparts in Beijing.

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