Topic: Mapped: The Top 10 Billionaire Cities (Read 194 times)

China is a One-party state so there is no "strongest" party. Its just one party and by default, every citizen is a member. The structure is hierarchial starting from the commoner at the village level. Above this, a person has his own place in the chain depending on his qualifications, work and output. The Civil services of the British were also derived from the Chinese system. Graduates above a certain age have to sit for examinations and depending on the performance, they are allotted posts at various village, provincial, state and national levels.

With the right connections, a person keeps rising in the party system. The richest families that form the topmost echelons of the state and national economies tend to own all the corporations. These corporations are in turn backed by the Chinese state too. It should come as no surprise that with this hierarchical structure, strict work rules and zero chances of unionization/ protest; China has the cheapest, most easily available and the most efficient labor force compared to anywhere else in the world.

The master stroke of opening its cheap labor and land to the global corporations brought all kind of industries to China. They learned, reverse-engineered, stole and hacked their way to a position where the Chinese are now leading in most technology. I guess everyone has heard of how Huawei became the leading telecommunication company in the world by hacking Nortel. They have also been very far-sighted in establishing diplomatic and economic links in Africa in other poor countries around the world. All of this means that they need English+Mandarin speaking Chinese Elite to act as emissaries and representatives of their corporations. Those are the billionaires that they keep minting.

Why do you even care?Are you a Bitcoin millionaire or billionaire?
I don't care about Bitcoin whales.I have my own life and my own problems.Bitcoin whales will be fine.
It doesn't matter where they are going to live their comfortable and luxurious life.
Most of the billionaires around the world became billionaires due to the money printing madness,caused by the central banks.This is just pure oligarchy/crony capitalism.

It looks like Asia is the place to be at the moment. Security will be a big problem in South America, Africa or the Middle East. So we have to choose between North America, Europe or Asia in my opinion. Both America and Europe are a mess right now, I think that the number of Billionaires is growing in Asia. So for any Bitcoin millionaire who can afford to relocate I would advise to go to Asia as well. There are plenty of countries with fairly low cost of living with a high standard.

I would say that mega cities/tech cities would be the best one for bitcoin billionaires like Shenzen and other Chinese mega cities because they are advanced and they are good for businesses because that's what those cities are looking for and bitcoin is a technology, the only problem that I see is that China still has a ban on cryptocurrency.

oh, I see, the strongest party in china is the communist party, and the billionaires in china are mostly part of the communist party. so they can become billionaires because of the support of the communist party. yes, I've heard that jack ma is part of the communist party.

okay, that makes sense. Chinese billionaires pay very small wages to workers so that capital expenditure is not too much. meanwhile, they made a big profit. to me, it's pretty cruel

I know at least one country whose city is on the list, where billionaires are exclusively "close friends" of the highest echelon of state power, where power has essentially transformed into a criminal group that usurped finances, resources, power in the country. They consider this to be the norm, although in a normal community it is a criminal way of accumulating wealth.

Love visual capitalist btw. A question I would like to have an answer is how may of these billionaires do actually live in these cities most of the year. To be honest, even the best areas of the ones I know are simply too urban to put up with. London is busy, difficult to travel and not particularly safe in general, Moscow is a joke for mobility, safety or legal maters, NYC no that good either...

If you think for a moment, would you live in a city if you could just choose any place in the world?

A majority of cities on the list are located in china, new york and california. Many chinese want to leave china and move to the united states. While 30% of new yorkers and californians (in polls) want to leave those states and move elsewhere. The projected outlook over the next 5 to 10 years could shift significantly. US states like california are exploring options to continue to tax billionaires like Elon Musk who move from california to texas even if they reside out of state. The US is also exploring avenues to continue to tax americans who renounce their US citizenship and immigrate to countries with reduced income taxes.

Capital flight and immigration will be big issues over the next few years. Even without factoring in expected US corporate tax hikes. There have been record numbers of americans renouncing citizenship and moving to places like puerto rico where they pay only 4% income taxes. It has been a trend for years. One wonders if it could explode in the near future.

Firmly because of the pandemic. It has raised the gap between rich and poor. You can see that rich people get richer after the pandemic and poor people are getting poorer. Big companies still have works to do in the pandemic by using online technology or sorts of. Meanwhile, other small business can not afford to do so

I wonder whether there is a cryptocurrency billionaire on the list. Moreover, there are probably more than 2 billionaires who avoid being listed by using cryptocurrency. Why? because I have seen many addresses from different blockchain has a portfolio which worth more than 1 billion

I saw communism in the Soviet Union. All foreign countries were frightened by this communism, which was called the "red threat". The Soviet economy was planned, there was practically no private business. Resale or speculation were felonies.
Chinese communism is very different from Soviet communism. They have a planned distribution economy, but their priority development is aimed at a market economy.
Good management and cheap labor have made many people millionaires.

I am not really sure about the Chinese ones. Sure there could be a lot of rich people there, and I understand that in the capitalist countries there are a lot of rich people via capitalism and companies but the real problem with the communist ones is that it is via dictatorship, it is via taking the power away from the people, not making people rich even if they want to, any company you create has to be part owned by the communist party, and that is why there are a lot of "rich" people along the CCP lines instead of regular people.

Not like capitalists are any better, they are using the workforce of the people and pay them a salary but at least if you are lucky and hard working enough (and bribe the right politicians) you could get rich there, anyone can, that is at least a bit better, still immoral but applies to everyone instead of select few.

I doubt that most ill-gotten gains will show up in any statistics. Even "regular" wealthy people are pretty good at hiding their assets, imagine how good grey-area billionaires must be at hiding these.



Because all people are equal but some are more equal than others. Especially those with strong party ties.

The number of billionaires that China has produced has raised questions in my mind. Why does China, which has a communist ideology, which is touted as the antithesis of capitalism, actually produce so many billionaires?

the US is still a great place to be Billionare and the taxes imposed on wealthy citizens are quite high, but for sure US is the place with the most Bitcoin billionaires.  those who become billionaires in the US will be more easily recognized by the rest of the world than those who become billionaires in Asia or Europe.

source....

discussing communism and democracy is certainly endless and there will always be a gap between rich and poor.  China has become stronger since Xi took office and if we compare it to other communist countries, of course China has a different ideological character.  but what is certain is that no communist social country has succeeded in carrying out the mission of the communists themselves.

What a great way to show the wealth distribution disparity in today's society. The more billionaires a city has, more disparity in wealth distribution is observed. While riches are growing richer and poors are growing poorer. Also I see China has more billionaires than any other country in Asia. That show how fake the communism social structure is. Communism speaks about a society where everyone's life will be same as others and there will be no disparity in wealth distribution. But that is clearly not the case it seems!

Also I am sure this list doesn't include the cryptocurrency billionaires here!

I sometimes have bad thoughts if I read people's articles about "The Great Reset" and "The New World Order".
These thoughts are already being discussed openly at the World Economic Forum.
There are very few states in the world that can provide themselves with everything necessary (energy, minerals and food). In many countries, 90% of food is imported from other countries. When a war breaks out, people will quickly change their priorities. In the first place will not be Tesla and iPhones, but food, water and medicines.
I am already beginning to think in which country it is better to stay.

There is one more nuance. This is the origin of the funds of these new millionaires. Making money through the creation or development of new technologies, medicines, mass products or global services is one thing. Another thing is dubious means, from a criminal or near-criminal source to "organized crime at the state level." Probably such "billionaires" should not be taken into account

and to be precise china began to occupy strategic points in several countries, especially Asia and bought an area of land to build their own industry. then instead of that, there was always interference from the power in following up the restlessness of the residents in remote cities. and answer that the future countries that will occupy the first rank are countries that still have business ethics rationally. the copy benefits each other. not as a parasitic country, which only depletes natural resources and leaves behind millions of waste scattered about. India and China are like the tip of the spear if the two countries are not supplied with foodstuffs from the production country.

This pandemic period have been a great fortune for some businessman as they have gained huge wealth during this period including our social influencer Elon Musk and some others joining him in the list.Here is list for top gainers of 2020:
Forbes List

Talking about cities with Bitcoin millionaires in future then according to me Miami could be on the top list because of its crypto friendly regulations and Mayor Francis supporting Bitcoin from long term as he proposed to pay municipal workers in Bitcoin and want to make Miami crypto hub.The local residents also support his decision and want to HODL Bitcoin for the future.Many more cities with Bitcoin adoption,ATM's and merchant will join the list.Some crypto friendly cities where Bitcoin is used by most are as follows:

1)Zurich
2)London
3) Amsterdam

These cities have Bitcoin ATM and dozen of merchants accepting Bitcoin so according to me these cities will give some Bitcoin millionaires in future if they Hold their coins until that time.

There is a very interesting document that makes you think about a lot
Global | scenarios for 2040
https://www.dni.gov/files/ODNI/documents/assessments/GlobalTrends_2040.pdf

Which country in the world will be the best and safest in the next 10-20 years.
Most countries import a lot of agricultural products. India and China cannot feed their populations, so they buy food from other countries.
We now live in a world where many things are available, but this does not mean that in 10 years there will be the same situation.

I hate statistics like these, because they give math-deficient mouth breathers the impression that this is an ongoing thing--that every 17 hours a new billionaire is minted, which isn't true.

Anyway, neat infographic OP.  I'm not surprised that China has so many billionaires, nor that New York had as many as it does.  In fact, if I would have had to guess before looking at the number I probably would have guessed it was in the hundreds.  Manhattan alone is the home of tons of rich folks--but I guess $1B is truly a lot of money.

And why were so many new billionaires made in 2020?  My guess is the performance of the stock market, which has made a lot of newly-wealthy individuals.  Even people who have no clue what they're doing in the stock market have made fortunes.  It's a crazy time we're living in.

https://www.visualcapitalist.com/mapped-the-top-10-billionaire-cities/


"In 2020, the world gained 493 new billionaires—that’s one every 17 hours.

For the last seven years, New York City has been home to more billionaires than any other city in the world. However, last year marked a monumental shift in the status quo."

"The richest of the rich are quite concentrated in cities, but some cities seem to best suit the billionaire lifestyle. Here’s a breakdown of the top 10 billionaire capitals and the collective net worth of all the ultra wealthy that live there."


Which city will be the best for Bitcoin millionaires in the coming years?