Hong Kong replaces New York position as the city the the most number of rich people in the world

News24xx.com - Hong Kong takes the place of New York as the city with the most rich people in the world. In fact, the number of rich people in Hong Kong is said to increase to 10,000 individuals this year or three times more than the previous year.

In fact, New York has become the city with the highest number of rich people since the Wealth-X research institute started ranking them in 2011. This institution defines each individual's wealth with a net value of at least USD 30 million (Ultra High Net Worth Individuals / UHNWI).

According to Wealth-X, as reported by CNN.com, on Friday, September 7th 2018, the increase in the number of rich people in Hong Kong was driven by the booming stock market and the growth of financial markets connected to the Chinese economy.

Among Hong Kong's leading billionaires, Li Ka-shing, who controls the port business, telecommunications networks and the energy sector throughout the world. In fact, there is not a single city in mainland China where the individual is on the top 10 list of super rich people in the Wealth-X version. This is also because individual wealth in China is not concentrated in only one area, but spread throughout the region.

Last year, the number of super-rich people in Asia rose 20 percent. Asian wealth increases are supported by growing consumer spending, infrastructure investment and economic reforms. "The dynamics of the birth of rich people in all regions of China is very surprising" wrote the Wealth-X report. "Asia Pacific is expected to close the gap of its super-rich people with other regions in the next five years."

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