Coronavirus: How did Beijing become the “billionaire capital” of the world?



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Beijing has overtaken New York in the number of billionaires

There are now more billionaires in Beijing, China, than in any other city in the world, according to Forbes magazine’s latest annual report on the world’s billionaires.

And the list of billionaires in the Chinese capital last year included 100 people after adding 33 people during the past year, according to the magazine, thus surpassing New York, where there are a total of 99 billionaires, making it in the first place during the last seven years.

Chinas rapid containment of the spread of Covid-19 disease and the rise of technology and financial markets helped its capital to hold the position.

Although the number of billionaires in Beijing is higher than in New York, the total wealth of New York billionaires exceeds that of Beijing, with a value of $ 80 billion.

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