Rising home prices and conservative borrowing have today's homeowners sitting on a record amount of potential cash. Today's mortgage holders saw their home equity increase by...Real Estateread more
SoftBank wants to push Neumann out of the CEO role ahead of the IPO.Technologyread more
The Mac Pro is the only major Apple computer to be assembled in the United States. Most of Apple's products, including the iPhone, are assembled in China and are facing tariff...Technologyread more
CNBC's Jim Cramer calls on investors to be wary of the slew of hyped-up unicorn companies going public this year and encourages the focus to be on deliverable earnings.Investingread more
Toys R Us' bankruptcy caused a 7% surge in sales for the toy industry during the first half of 2018 as parents stocked up, then sales fell 2% as manufacturers experienced...Retailread more
The UK's Civil Aviation Authority said Thomas Cook had now ceased trading and the regulator would work with the government to bring the more than 150,000 British customers...Europe Marketsread more
The RNC paid $166,390 in August to the office of Mintz Levin for "legal and compliance services," according to a disclosure filing.Politicsread more
Trump has called Chairman Jerome Powell "clueless" and Fed officials "boneheads."The Fedread more
Trump's call with the foreign leader is reportedly the subject of a whistleblower's complaint that has spurred new accusations of wrongdoing from Democrats.Politicsread more
The solider, Jarrett William Smith, 24, of Fort Riley, Kansas, was charged with one count of distributing information related to explosives and weapons of mass destruction,...Politicsread more
Harvard economist N. Gregory Mankiw says ultra-wealthy couples could split their fortunes in half through divorce and avoid paying a wealth tax proposed by presidential...Wealthread more
New York is still the billionaire capital of the world. But Hong Kong is catching up fast.
New York has 103 billionaires, according to the Wealth-X Billionaire Census. But Hong Kong is now a close second with 93. And while New York's billionaire population is static (it only grew by one last year), Hong Kong added 21 new billionaires last year, for a growth rate of 29 percent.
"New York is the preferred location for those seeking a luxury blend of finance, culture, commerce, shopping and real estate," the report said.
In fact, New York City has more billionaires than every country except for China, Germany and India.
Hong Kong's growth, however, could soon surpass the Big Apple. Its surge was "driven by strong domestic economic performance, the upturn in global financial markets and trade and investment with China," the report said. This was a big turnaround from 2016, when a falling stock market made Hong Kong the biggest billionaire loser.
San Francisco ranked third, with 14 new billionaires, bringing its total to 74. San Francisco now has more billionaires than all but eight countries.
"San Francisco has experienced the strongest growth in billionaire numbers of any U.S. city in recent years," the report said.
Moscow lost two billionaires, as economic sanctions continued to hurt the economy.
Here is the rest of the top 10 billionaires cities list: