Beijing. Beijing has 128,200 resident millionaires, 354 centi-millionaires, and 43 billionaires. The official capital city of China, Beijing is the base for many of the world's largest companies. Its billionaire population is particularly high — only New York City and the Bay Area rank higher based on this measure.
Shanghai is the undisputed most populous and wealthiest city in China.
Five cities in China have a GDP that measures between $200 and $300 billion. These are: Guangzhou ($248.985 billion), Shenzhen ($234.131 billion), Tianjin ($233.191 billion), Suzhou ($210.161 billion), and Chongqing ($206.408 billion). Of these cities, Guangzhou has the highest GDP at $248,985,000,000.
New York City came out on top of the world's wealthiest cities list with 340,000 millionaires, ahead of Tokyo with 290,300, and San Francisco's Bay Area with 285,000. San Francisco had the most billionaires, with 63, compared with New York's 58.
On this criteria, Dongguan, one of the four most vibrant cities of Guangdong Province, won the title of the richest Chinese city, followed by Xinjiang's Karamay and Jiangsu's Suzhou. Read on to find who made the top 10 list.
The amount of ultra-rich people in Shenzhen jumped by 98% between 2012 and 2022, while Guangzhou noted an 86% increase. Alongside China, the U.S. dominates the top 10 with three cities. In the case of the U.S., however, all three cities are also in the top five.
And with a 22 million population, Beijing's GDP per capita has climbed to more than $28,000, which Mayor Chen Jining celebrated this month as the highest of China's cities. Shanghai's 25 million residents came in second on this measure at about $26,800.
Sydney. Sydney rounds out the top 10, with 126,900 millionaires. This makes the city Australia's wealthiest.
With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia's wealthiest city. It's also predicted to reach the top 5 wealthiest cities in the world by 2040.
Forbes' real-time data shows that as of June 2023, there are 47 Australian billionaires on the list of the world's richest people.
Shanghai, China's biggest city and a global financial hub, has topped the list of the world's most expensive cities to live for the rich people.
Shanghai is expensive because of the high prices of products, higher inflation rates and continued strength of the Chinese Yuan against other major currencies.
According to the latest data published by local statistics authorities, Beijing remains the only northern city on the list of top 10 Chinese cities by GDP in 2022, exceeding the 4-trillion-yuan threshold last year along with the first-placed city of Shanghai.
Shanghai. Widely regarded as the financial capital of China, Shanghai is home to 127,200 millionaires, 332 centi-millionaires, and 40 billionaires. The Shanghai Stock Exchange is the third-largest stock market in the world by market cap (after the NYSE and the Nasdaq).
Guizhou has the largest poverty population, with 2.95 million. Xinjiang has the highest poverty rate, which is 9.9 per cent. Gansu, Guizhou, Tibet and Yunnan also have a poverty rate above 7 per cent.
Forbes. In 2023, Forbes listed New York City with the most billionaires at 101 people, followed by Hong Kong with 70 billionaires, and Beijing in third place with 68 billionaires.
Mungallala Methodist Church was built in 1964. It has now closed. In 2016, the Australian Taxation Office listed Mungallala as having the lowest mean taxable income by postcode, making it the poorest town in Australia, which led the ABC to do a documentary on the town for their online "storyhunters" program.
Land boom and bust
The 1880s saw extraordinary growth: consumer confidence, easy access to credit, and steep increases in land prices led to an enormous amount of construction. During this "land boom", Melbourne reputedly became the richest city in the world, and the second-largest (after London) in the British Empire.
More on the wealthy states within Australia
The Australian Capital Territory (ACT) has the highest average income among Australian states and territories, due to its strong public administration and professional services sectors. New South Wales also has a high average income, higher than the rest of the states.
Outlandish as it may seem, the lavish spending has become commonplace within the inner circles of Sydney's community of wealthy Chinese. Billionaires from mainland China, Hong Kong and Singapore, along with homegrown Asian tycoons, have turned the Harbour City into their playground.
No suburb in the country features a greater concentration of members of The List – Australia's Richest 250 than Toorak, where Melbourne's wealthiest families have gathered for decades. Think historic looking mansions guarded by large hedges set back from the street to ensure privacy.
Years of rampaging property prices have made Australians the richest country in the world, but a world of pain could also be in store if global economics take a turn for the worse.
New York is the world's most popular place for the super rich to own a property, according to a new report by data firm Altrata. A total of 21,714 ultra-high-net-worth (UHNW) individuals — those worth over $30 million — own either a primary or secondary residence in the city, the study found.
The three wealthiest regions are the Yangtze River Delta in East China; the Pearl River Delta in South China; and Jingjinji region in North China.
Three of the four biggest clusters of billionaires in the world are classic US destinations for the uberwealthy: New York City, Los Angeles, and the Bay Area, which includes the neighboring tech hubs of San Francisco and Silicon Valley. Nearly 163 billionaires reside in those three hot spots alone.