An IMGlobalWealth.com News Report
New York still sits at the top of the billionaire league. But the more revealing story lies beneath the headline.
The latest Hurun Global Rich List 2026 places New York first with 146 billionaires, while Shenzhen has surged into second place with 132, ahead of Shanghai, Beijing and London. The list counted 4,020 billionaires worldwide, up 17% in a year, with global stock markets and artificial intelligence among the strongest engines of new wealth creation.
“Billionaires follow opportunity. Increasingly, they also follow shelter”
The ranking is drawn from the Hurun Global Rich List 2026, compiled by the Hurun Research Institute. Established in the UK in 1999, Hurun is a research, media and investments group best known for its rich lists and entrepreneurship-focused rankings. Its 2026 Global Rich List, now in its 15th year, ranks US dollar billionaires worldwide, with wealth calculations taken as a snapshot on 15 January 2026. The full report can be read here: Hurun Global Rich List 2026.
Asian cities now dominate the upper tier: the table below shows that 18 of the top 32 billionaire cities are in Asia, accounting for 58% of the billionaires listed, while Chinese cities alone account for 34%.
Cities with the most billionaires in 2026
1. New York — 146 billionaires
2. Shenzhen — 132 billionaires
3. Shanghai — 120 billionaires
4. Beijing — 107 billionaires
5. London — 102 billionaires
6. Mumbai — 95 billionaires
7. Hong Kong — 88 billionaires
8. San Francisco — 86 billionaires
9. Moscow — 82 billionaires
10. Hangzhou — 65 billionaires
11. New Delhi — 64 billionaires
12. Singapore — 59 billionaires
13. Taipei — 51 billionaires
14. Paris — 44 billionaires
15. São Paulo — 41 billionaires
16. Guangzhou — 41 billionaires
17. Los Angeles — 40 billionaires
18. Bangkok — 40 billionaires
19. Suzhou — 39 billionaires
20. Seoul — 32 billionaires
21. Ningbo — 32 billionaires
22. Jakarta — 32 billionaires
23. Tokyo — 31 billionaires
24. Istanbul — 31 billionaires
25. Bengaluru — 30 billionaires
26. Stockholm — 29 billionaires
27. Milan — 28 billionaires
28. Dallas — 28 billionaires
29. Toronto — 26 billionaires
30. Palm Beach — 24 billionaires
31. Melbourne — 24 billionaires
32. Dubai — 24 billionaires
Source: Hurun Global Rich List 2026. Wealth calculations are a snapshot of 15 January 2026.
Shenzhen’s rise is especially telling. Once seen largely as a manufacturing hub, it now reflects the wealth produced by technology, supply chains, green energy, consumer electronics and China’s expanding global reach.Yet billionaire geography is not only about where fortunes are minted. It is also about where the rich feel safe enough to live, raise families and hold assets.
Tax remains part of the calculation, but it is no longer the whole story. Henley & Partners’ 2026 wealth-migration analysis argues that wealthy families rarely move for tax reasons alone; they also weigh institutions, safety, education, business opportunity, family inclusion and long-term predictability.
That helps explain why New York and London remain powerful despite high costs and political noise. They offer deep capital markets, elite schools, legal certainty, professional advisers and global connectivity. But the ranking also points to a changing world.
For the ultra-rich, mobility has become a form of insurance. A second residence, another passport, a family office in a different jurisdiction and banking relationships spread across borders are no longer eccentric luxuries. They are part of a defensive strategy.
War in Europe, instability in the Middle East, political polarisation in the United States, tax reform in Britain and parts of Europe, climate stress and the fear of capital controls have all made jurisdiction a strategic asset. Henley’s report describes this as a shift from choosing one country to building a “portfolio of jurisdictions” for resilience and optionality.
The cities that win in this environment will not be those offering tax advantages alone. They will be the places that combine wealth creation with liveability, rule of law, security, schools, capital mobility and confidence. Billionaires follow opportunity. Increasingly, they also follow shelter.
