London boasts largest number of billionaires: rich list

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LONDON: London has more billionaires – measured in pounds sterling – than any other city in the world, according to The Sunday Times newspaper’s Rich List 2016. Some of the richest tycoons in Britain have lost vast chunks of their fortunes because of a retail slump, sinking oil prices and the steel industry crisis, the paper said. Nevertheless, the overall fortune of the 1,000 wealthiest people in Britain was higher this year – and the country boasts 120 sterling billionaires, a figure beaten only by the United States (378) and China (193), the paper said. And it said there were more sterling billionaires in London (77) than any other city, ahead of New York (61), San Francisco (57) and Hong Kong (49).

AFP

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