San Francisco has 1 billionaire for every 11,600 residents, new study says

Bay Area

SAN FRANCISCO (KRON) — San Francisco is home to a lot of things — cutting edge technology, successful sports teams, great food and apparently a lot of billionaires.

That’s according to the newly released “Billionaire Census” by Wealth-X.

New research shows the billionaire population worldwide is in decline, but in North America, the population is steadily rising. 

When it comes to ‘billionaire density,’ meaning the number of billionaires per inhabitant, researchers say San Francisco is the obvious leader. 

The City by the Bay also ranks no. 3 on the list of cities with the most billionaires, with a total of 75.

That number is up by one compared to 2017. 

“San Francisco has risen steadily in the city rankings over recent years, driven by enormous wealth gains across the technology sector,” the study said. “Although 2018 was a less auspicious year for tech stocks, amid slower demand and a modest push-back from the public and governments to the actions of certain high-profile firms, wealth creation was still supported by broadly favorable economic conditions in the US and the continuing growth of digitalization around the world.”

As far as billionaire density, San Francisco faces no rivals for the top spot, mostly thanks to the technology industry. 

With one billionaire for every 11,600 residents, the next closest contender is New York City with one billionaire for every 81,311 residents, according to the study. 

Other cities that billionaires call home include: Moscow, Hong Kong, London, Beijing, Singapore, Los Angeles, Dubai, Mumbai, Shenzhen, Sao Paulo, Istanbul, Hangzhou and Tokyo. 

For the full study, click here.

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