March 3, 2016
All of the major news outlets were reporting last week that Beijing had overtaken New York City as the billionaire capital of the world, not at all hard to believe considering that in 2016, 70 new members to the World’s Billionaires List were Chinese, more than double the number of newly-added Americans. However, the original report from Chinese research firm Hurun has been disproven by research from Forbes. The new data shows that NYC is home to 79 billionaires, more than any other city in the world. This includes David Koch and Michael Bloomberg, two of the ten richest people in the world. The city's billionaires' total wealth amounts to a whopping $364.6 billion.
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