/data/photo/2015/05/25/1053322Kantor-Star-Trek780x390.jpg "10 Cities with the Most Conglomerates in the World All")
KOMPAS.com – United States business and financial magazine, Forbes recently released the latest list of cities in the world with the number of conglomerate the most.
Of the 2,668 conglomerates on this year’s list, nearly a quarter live in just 10 places.
Despite the shift in rankings, the cities where these tycoons lived were mostly the same.
The only newcomer city to the top 10 list is Seoul, which replaces Hangzhou in 10th place.
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1. New York: 107 conglomerates
New York recorded an additional eight new billionaires over the past year, more than any other city on the list.
Most are in the financial industry, including Thrive Capital founder Josh Kushner and private equity giant Ramzi Musallam.
Despite increased competition, media magnate Michael Bloomberg remains the richest resident and accounts for about 13 percent of the city’s total billionaire fortune.
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2. Beijing: 83 conglomerates
Increased government scrutiny means the Chinese capital have lost $174.3 billion of their collective net worth since 2021.
The 17 billionaires include Kate Wang, founder of Chinese vaping giant RLX Technology, and Will Wei Cheng, the company’s CEO. ride-hailing Didi Global, whose fortune has fallen below the three-point threshold.
Only Zhang Yiming, the founder of TikTok ByteDance and the richest resident in Beijing, whose wealth has increased by 14.4 billion US dollars from last year.
3. Hong Kong: 68 conglomerates
Besides Beijing, Hong Kong has also experienced a decline in the number of conglomerates, amid market turmoil over the past year.
A stalled tourism industry saw casino billionaires Ina Chan and Lawrence Ho, as well as hotel magnate Zhao Tongtong, down from the city’s super-rich rankings.
Hong Kong also lost two other billionaires, Shing-bor Tang and Lee Man Tat, who died in 2021.
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4. London: 66 conglomerates
British Museum, London, England.-
London rose to No. 4 due to the easing of long-standing Covid-19 pandemic restrictions.
Vlad Yatsenko, chief technology officer of digital banking giant Revolut, and Denis Sverdlow, who founded British electronic vehicle manufacturer Arrival, are other new billionaires living in London.
5. Shanghai: 61 conglomerates
Shanghai lost fewer billionaires than any other Chinese city, but its super-rich population is still on the decline, from 64 to 61.
Xu Yi and Chen Rui, executives at Chinese media giant Bilibili, and Tony Zhao, CEO of Nasdaq-traded online video and communications platform Agora, were among the billionaires from Shanghai who went down over the past year.
In contrast, the owner of the agricultural and chemical company East Hope Group and the richest man in Shanghai, Liu Yongxing, increased his profits to around 13.2 billion US dollars.
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6. Shenzhen: 59 conglomerates
This aerial photo shows a view of Shenzhen City in southern China’s Guangdong Province. Image taken on August 13, 2020.-
China’s Silicon Valley has fallen to number 6 after losing nine billionaires over the past year.
The richest man in Shenzhen, Tencent Chairman and CEO Ma Huateng was also hit.
The internet media tycoon’s wealth has fallen by more than $28 billion since 2021.
7. Moscow: 53 conglomerates
Moscow became the city that experienced the largest decline in the number of billionaires among other cities as a result of the Russian invasion of Ukraine.
The chairman of steel products producer NLMK Group and Moscow’s richest man Vladimir Lisin lost about $8 billion of his personal fortune.
While 26 other people were evicted from the list of world conglomerates Forbes.
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8. Mumbai: 51 conglomerates
The Indian metropolis holds the 8th position with increased net profit of three billionaires compared to last year.
The city’s richest resident, Reliance Industries Chairman Mukesh Ambani, single-handedly makes up more than 30 percent of Mumbai’s billionaire collective net worth.
9. San Francisco: 44 conglomerates
San Francisco is down one notch compared to last year.
The city is actually welcoming new stable of ultra-rich entrepreneurs, such as Grammarly co-founder Max Lytvyn, as well as Henrique Dubugras and Pedro Franceschi who are founders of fintech startup Brex.
But the falling fortunes of other conglomerates, such as Affirm co-founder Max Levchin, RingCentral Vlad Shmunis, and Skillz CEO Andrew Paradise, kept both off the Forbes list.
10. Seoul: 38 conglomerates
South Korea’s capital is back on the list for the first time since 2019.
There are three billionaire newcomers to Seoul, namely Covid-19 testing entrepreneur Cho Young-sik, founder of startup fintech Lee Seung-gun, and the best game Park Kwan-ho.
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