London Has More Billionaires Than Any Other City in the World

The Slatest
Your News Companion by Ben Mathis-Lilley
May 11 2014 3:42 PM

London Has More Billionaires Than Any Other City in the World

6451642447_4356164259_z

Flickr/@Doug88888

London is the world’s super-rich capital of the world, according to a survey carried out by the Sunday Times. The British capital has 72 residents whose wealth is higher than £1 billion ($1.6 billion)—ahead of Moscow’s 48, New York’s 43 and San Francisco’s 42. The number of billionaires living in Britain as a whole has crossed the 100-mark for the first time after more than tripling from a decade ago, according to Sky News. With 104 billionaires, the United Kingdom now has more billionaires per capita than any other country. And most of them were born abroad, which shows how the British capital lures some of the richest in the world.

Indian-born brothers Sri and Gopi Hinduja, who run the Hinduja Group, kicked Russia’s Alisher Usmanov from the number-one slot as the richest in Britain. Usmanov dropped to second place after losing £2.7 billion over the last year “as the crisis in Ukraine wiped billions of pounds off the bank balances of Russian and Ukrainian oligarchs,” notes Reuters.

Daniel Politi has been contributing to Slate since 2004 and wrote the "Today's Papers" column from 2006 to 2009. You can follow him on Twitter @dpoliti.