Imagine this, the great build up of riches brings to cities the dubious battles of the great boast of "Who's got more".
Moscow is home to 74 billionaires, with an average net worth of US$5.9 billion.
New York is close behind with 71 billionaires and an average net worth of US$3.3 billion.
Coming in at a distant third is London with 36 billionaires in residence.
The U.S. has more cities in the top 10 billionaire bragging rights than any other country with four. Los Angeles is home to 24 billionaires. Dallas is home to 15. San Francisco is home to 19 billionaires with their Silicon Valley’s tech wunderkinds.
Hong Kong is the most popular city for Asian billionaires with 30. But most surprising is Mumbai, India earning the bragging rights as the city with the richest billionaires with 20 billionaires, are worth an average of US$7.6 billion.
Wherever the gods of earthly riches, the billionaires go, the luxuries are sure to follow.
These cities have become the centers of finance and the attendant culture will welcome you if you can afford to be there. The ultimate in wants and desires ultimately spawn international styled gourmet restaurants, world-class nightclubs, favourable tax breaks and the super luxury condominiums and office towers.
Financial control tends to be centered round these metropolitan areas and it's no wonder one third of all billionaires call the above 10 cosmopolitan cities home.What makes some cities more popular with the elite wealthiest?
It really depends. Their preferences are as diverse as their characters.
Billionaire oilman Viktor Vekselberg claims, "The standard of living in Moscow is on par with all of the world capitals. And it's less expensive. A ticket to Russia's famed Bolshoi Theater--where the likes of Mikhail Baryshnikov has danced--will only set you back US$50. And top-notch kindergartens run by the government are free.”
Real estate boss and TV celebrity Donald Trump says this about New York, "Everything is here, everything is accessible, and there is always something great to do."
Indian steel tycoon Lakshmi Mittal, who’s the fourth wealthiest billionaire at US$45 billion said, "I find London an excellent place to live largely because of its geographic location. I can fly pretty much anywhere in 12 hours."
Other notable foreigners calling London home include Iceland's richest citizen, Thor Bjorgolfsson, and shipping tycoon John Fredriksen choose to live in London. There are also a number of billionaires, like Abramovich, who own second homes in London but don't consider it their main dwelling. Meanwhile opposites in tastes can occur - New York City has just one foreign billionaire and Moscow is home only to Russian billionaires.
Storm in a tea cup as the Londoners might say? Hardly. These great financial centers are really playing for all the marbles. These billionaires act as the great attracters of business, money, power, prestige, and lots of moneyed people and people willing to spend money.
In another lesson, these billionaires can have their choice of any city in the world their preferences can and does affect the kind of people willing to flock to those cities - very often bringing a very favoured international jet set there. Might you be one of them?
Originally Posted: Jul 30, 2008 at 4:04 AM Last Updated: Jul 30, 2008 at 4:04 AM
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