How Beijing Unseated New York as the Billionaire Capital of the World

Beijing recently surpassed New York City to become the city with the most billionaires in the world.

A hundred billionaires are based in the Chinese capital compared to New York City’s 95, according to findings from, an annual wealth ranking Report.

Bill Gates and Warren Buffett are still the first and second wealthiest people in the world, with net worths of $80 billion and $68 billion, respectively.

Zara founder Amancio Ortega comes in at number three with assets totaling $64 billion, followed by Amazon’s Jeff Bezos ($53 billion).

Mexican business magnate and investor Carlos Slim Helu rounds out the top five with a net worth of $50 billion.

The two wealthiest people in China are Wang Jianlin ($26 billion), the Chairman of the Wanda Group — a luxury commercial property company and the world’s largest movie chain operator – and Li Ka-Shing ($25 billion), the 87-year-old Chairman of CK Hutchison Holdings, investor and philanthropist.

For the first time, China has overtaken the U.S. as the country with the most billionaires. The report claims that there are now 2,188 billionaires around the world, 50 percent more than in 2013.