Inside Wealth

The 10 cities with the most billionaires

Grant Faint | Getty Images

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:

1. New York, 103 billionaires

Grant Faint | Getty Images

2. Hong Kong, 93 billionaires

Everett Rosenfeld | CNBC

3. San Francisco, 74 billionaires

San Francisco, California
Kristine T Pham Photography | Getty Images

4. Moscow, 69 billionaires

Andrey Rudakov | Bloomberg via Getty Images

5. London, 62 billionaires

TangMan Photography | Getty Images

6. Beijing, 57 billionaires

Tianhan Chen | Cpressphoto | Getty Images

7. Singapore, 44 billionaires

Everett Rosenfeld | CNBC

8. Dubai, 40 billionaires

Siegfried Layda | Image Bank | Getty Images

9. Mumbai, 39 billionaires (tie)

Mehul | Moment | Getty Images

9. Shenzen, 39 billionaires (tie) 

Photographer is my life. | Getty Images