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Hong Kong ranks second globally in number of billionaires



Hong Kong has the world's second-highest number of billionaires after New York, according to a report by Altrata on the distribution of the world's wealthiest individuals. Despite a decrease of five billionaires to a total of 107, Hong Kong easily surpasses Singapore by 49 billionaires. New York tops the list with 144 billionaires, nine more than the previous year. The 2024 Billionaire Census places San Francisco third with 87 billionaires, followed by London, Moscow, Los Angeles, Beijing, Singapore, Shenzhen, and Mumbai. China experienced the largest drop in billionaire numbers for the second consecutive year, falling nearly 15% to 304 due to its economic slowdown and a real estate slump. Globally, the billionaire population expanded by 4% in 2023 to 3,323 individuals, reversing the decline of the previous year.

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