Cities with the Most Billionaires, 2011

http://realestate.yahoo.com/promo/cities-with-the-most-billionaires-2011.html


When the U.S. economy was riding high for most of the 20th century, it would have been impossible to imagine a foreign city--especially one in a Communist country--with more of the planet's very richest than New York, home of old-money Wall Street. But that indeed is the case. Today Moscow is the city with the most billionaire residents in the world.

The Russian capital boasts 79 billionaires, a stunning increase of 21 in just one year. That more than edges out No. 2 New York, with 59 billionaires, and No. 3 London with 41. Other cities in the top 15 include such rising stars as Mumbai, Taipei, Sao Paolo and Istanbul. Los Angeles manages a tie for No. 8.

The combined fortunes of Moscow's billionaire population top $375 billion, more privately amassed wealth than in any other city in the world.

Despite New York's relegation to second place, the city remains a favored locale of billionaires, whose collective net worth is $221 billion. The Big Apple boasts some of the most expensive ZIP codes in the U.S., due in part to the real estate prices paid by billionaires in this city. Indeed, many Moscow residents own secondary homes in New York, including fertilizer and coal magnate Andrey Melnichenko, whose wife recently closed on a $12.2 million penthouse apartment. Even the world's richest man, Carlos Slim (home: Mexico City), snatched up a $44 million mansion on Central Park last year.

More at the link --

Someone's stuck in the past.

amazing that they can't field a decent soccer team

They have managed the transition and the last 2 decades to create an oligarchy. We have too but we aren't as good at the capitalism thing as China or Russia...obviously.

I think Germany, France, the UK, and Italy have higher GDPs in absolute terms. In GDP per capita, Russia isn't even considered a wealthy nation. They rank somewhere around 50th.

Maybe what the poster should have said was that Russia has the greatest income inequality in Europe. Not really sure if that is true either, but it would a good guess that is likely accurate.

Just joking of course

Russia's wealthy are MEGAwealthy. They produce 1/2 of the oil to start with.

when Soviet state assets were privatized under the new regime? Basically what Scott Walker and other Republicans are shooting for with their privatization schemes?

:(

have very uneven wealth distribution.

The extreme cold, the long dark winters, the muddy spring. The insane drinking. Ugh. Obviously these billionaires are psychotic.

:shrug: