San Francisco has the most billionaires, per capita, than any city in the U.S. according to a new study conducted by data firm Wealth-X. There is roughly one billionaire for every 11,600 people in the major city closest to tech-hub silicon valley.
Globally, the population of billionaires decreased by 5% to about 2,600 individuals. Total wealth of the world’s billionaires declined as well, by 7% to about $8.6 trillion. Much of the drop off took place in Asia due to the economic slowdown in China.
The net worth of U.S. billionaires dropped as well, by 5%, but the overall number of U.S. billionaires increased by 4%.
New York City ranks second in terms of billionaire-frequency. There is one ten-figure individual for every 81,000 people in New York.
The annual census conducted by Wealth-X, which tracks the mega-wealthy, also paints a broader picture of who the world’s billionaires are. For example:
• 88% of the world’s billionaires are men.
• The age of the average billionaire is 65.
• 56% of billionaires are self-made – meaning their vast wealth was not inherited.
Photo by Noahnmf via Wikimedia Commons