Millionaires & Billionaires

Which city has the most billionaires? London

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London has the most billionaires of any city in the world, according a new list.

The Sunday Times' Rich List said there are now 72 Londoners with a net worth of £1 billion or more. It said Moscow ranks second with 48, followed by New York with 43 and then San Francisco, Los Angeles and Hong Kong.

Of course, these individuals' wealth is measured by British pounds, so the number of U.S. dollar billionaires in the U.S. (and presumably London) would be higher.

Creation of 'insta-billionaires'?
Creation of 'insta-billionaires'?

The U.K. also has the highest per-capita number of these so-called sterling billionaires, according to the Rich List. And its population of billionaires has more than tripled over the past decade.

The list said that only a third of the British billionaires were born in the U.K. Many were born in India or Russia.

That includes the two people topping the U.K. Rich List—brothers Srichand and Gopichand Hindujah, with £11.9 billion—who were born in India.

The only British-born billionaire in the top 10 is the Duke of Westminster, who owns property in central London and has a £8.5 billion fortune.

To read the full report on the Rich List, click here.

—By CNBC's Robert Frank.