This City Just Unseated New York City as the Billionaire Capital of the World

This City Just Unseated New York City as the Billionaire Capital of the World
Image credit: Shutterstock

Get the working capital your business needs from Entrepreneur Lending, powered by CAN Capital. Learn More »

Beijing just surpassed New York City to become the city with the most billionaires in the world. A hundred billionaires are based in the Chinese capital compared to New York City’s 95, according to findings from the Hurun Global Rich List, an annual wealth ranking from the Shanghai-based Hurun Report.

Bill Gates and Warren Buffett are still the first and second wealthiest people in the world, with net worths of $80 billion and $68 billion, respectively. Zara founder Amancio Ortega comes in at number three with assets totaling $64 billion, followed by Amazon’s Jeff Bezos ($53 billion). Mexican business magnate and investor Carlos Slim Helu rounds out the top five with a net worth of $50 billion.

Related: These Are the World's Top 10 Young Billionaires

The two wealthiest people in China are Wang Jianlin ($26 billion), the Chairman of the Wanda Group -- a luxury commercial property company and the world’s largest movie chain operator – and Li Ka-Shing ($25 billion), the 87-year-old Chairman of CK Hutchison Holdings, investor and philanthropist.

For the first time, China has overtaken the U.S. as the country with the most billionaires. The five-year-old list reports that there are now 2,188 billionaires around the world, 50 percent more than in 2013.