Home » Beijing tops NYC in number of billionaires on latest Forbes list
Beijing tops NYC in number of billionaires on latest Forbes list
China tries to expand market share of chip production amid shortage
Fox News correspondent Lucas Tomlinson reports on the world microchip shortage.
The Big Apple has taken a back seat to Beijing as the world’s billionaire capital, and that’s before a new state tax hike possibly pushes more fat cats to leave.
The Chinese capital has exactly one more billionaire than Gotham, 100 to 99, according to Forbes’ recently released list.
The number of billionaires worldwide increased 32 percent to 2,755, or 660 more than a year ago, as many cashed in on a surging stock market. Beijing saw an uptick of 33 billionaires during the worldwide COVID catastrophe that began in China, while NYC’s roster increased by only seven.
"I personally know countless millionaires and billionaires who have left," said Ronn Torossian, founder and CEO of 5W Public Relations, who is considering moving and relocating his 200 employees from Manhattan to Miami.
Manhattan supermarket magnate John Catsimatidis, worth a cool $3.3 billion, agreed: "New York is being destroyed. I was in Palm Beach last weekend, and I met more millionaires and billionaires who have moved recently than you have hair on your head. The key is they stay in Florida enough days each year to avoid New York taxes.