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1 Mar, 2013 11:53

Moscow confirmed billionaire hot spot

Moscow confirmed billionaire hot spot

The Russian capital has more billionaires than any other city in the world, according to a new survey from China.

The study by the Hurun Research Institute says there are over 4000 people who have more than $1 billion on their bank account, and 76 of them reside in Moscow.

Russia has 88 billionaires with a combined wealth of $368bn, and it seems to support the old proverb that “all the money goes to Moscow”.

The wealthiest Muscovite is mining tycoon and Arsenal football club co-owner, Alisher Usmanov, whose fortune is estimated at $19 billion.

Metalloinvest founder Alisher Usmanov. (Reuters / Maxim Shemetov)

The Chinese researchers have given the world’s financial capital, New York, the second spot on their rankings, with 70 residing billionaires.

Hong Kong took the third position in the Hurun Global Rich List 2013, but it stands far behind the leaders, being home to just 54 rich cats.

The Chinese capital, Beijing, is fourth with 41 billionaires, while the long-time leader, London, has given up its positions for good. The British capital has dropped to fifth spot, with only 40 billionaires.

Istanbul (26 billionaires), Mumbai (24), Shanghai (24), Paris (23), Shenzhen (22) and Taipei (22) complete the Top 10.

The conclusion by Hurun Research matches that from Forbes Magazine, who also put Moscow on top of their list of the cities with the biggest super-rich community at 78 billionaires.