There Are More Billionaires In Moscow Than In New York, But London Has The Most

Tyler Durden's picture


If the fame and status of a major global metropolis is determined by the number of billionaire inhabitants, then Moscow has officially overtaken New York City, with the Russian capital hosting 48 billionaires compared to NYC's 43. More importantly, the number continues to rise even as economists and other so-called experts debate the reasons for society's record inequality even though the answer stares all of them in the face (at least it would if their face were facing the chart below).

But while we are confident Putin will take particular enjoyment in this specific fact (and don't worry about sanctions impacting Russia's billionaires - the banks will always find loopholes to make sure their best clients don't wire their funds elsewhere), the real story is what is going on in London, where as anyone who has tried buying an apartment flat in Mayfair will confirm, the situation is absolutely out of control, and as the Sunday Times reports as part of its annual Rich List, London now has a whopping 72 billionaires, nearly double the number residing in New York!

And it is not just London: with 104 billionaires living in the UK, and commanding a combined wealth of £301 billion, the UK has more billionaire per capita than any other country.

The increase in one year is startling, and represents an 18% jump from the 88 in 2013, as well as a 23% increase in the total wealth of the billionaire universe, up from £245 billion a year ago.

As BBC reports, "It is the first time since 2008 that the minimum wealth of the 50 richest people in the UK has exceeded £1.5bn." And you know that at least a whopping $4.99 of this will be spent on thank you notes to Bernanke, Draghi and Carney.

A fortune of £1.7 billion is now required to make the top 50 - up from £700 million 10 years ago. Aside from that though, and everything else, deflation reigns supreme...

More from the BBC on the changing compsition of the list :

New members of the list include West End producer Sir Cameron Mackintosh, who is now worth £1bn, and Jon Hunt, the founder of estate agents Foxtons who is worth £1.07bn.


The wealthiest new entry is Carrie and Francois Perrodo and their family, who own the London-based Perenco oil and gas operation and are worth an estimated £6.14bn.


Philip Beresford, who compiles the list, told the BBC "culture, financial services, nice tax regime, good education for their kids and a nice lifestyle where they meet their friends" were among the reasons billionaires were attracted to the UK.


BBC financial correspondent Andrew Verity said the increase in the number of billionaires on the list undermined the argument that making them pay more tax would drive them away."

Some other statistics:

More than half (39) of London's billionaires were born outside the UK, but overall the proportion was lower, with 44 of the 104 not born in this country.

Also, it goes without saying that as IBTimes summarizes, "the figures are likely to add to concern that though the recession may be over, the rich are reaping the greatest rewards from the recovery, with the amount of wealth in the hands of the rich list members leaping by £55.4bn in a year."

Oh well, as long as the 99% still believe the lie that the welfare state is solvent (which keeps the guillotines at bay or else the French revolution scenario becomes all too real), and more importantly that since plasma TVs are getting hedonically cheaper and the BLS can say with a straight face that there is disinflation everywhere, the theft from what little is left of the middle class will continue.

Meanwhile, the beneficiaries of this wealth transfer are the people listed below which comprise the Top 25 of the Sunday Times rich list.

  1. Sri and Gopi Hinduja, £11.9bn, up £1.3bn
  2. Alisher Usmanov, £10.65bn, down £2.65bn
  3. Lakshmi Mittal and family, £10.25bn, up £250m
  4. Len Blavatnik, £10bn, down £1bn
  5. Ernesto and Kirsty Bertarelli, £9.75bn, up £2.35bn
  6. John Fredriksen and family, £9.25bn, up £450m
  7. David and Simon Reuben, £9bn, up £719m
  8. Kirsten and Jorn Rausing, £8.8bn, up £3.69bn
  9. Roman Abramovich, £8.52bn, down £780m
  10. The Duke of Westminster, £8.5bn, up £700m
  11. Galen, Hilary and George Weston and family, £7.3bn, up £650m
  12. Charlene de Carvalho-Heineken and Michel de Carvalho, £6.36bn, down £635m
  13. Mohamed Bin Issa Al Jaber and family, £6.16bn, up £1.65bn
  14. Carrie and Francois Perrodo and family, £6.14bn, new
  15. German Khan, £6.08bn, new
  16. Sir David and Sir Frederick Barclay, £6bn, up £3.65bn
  17. Hans Rausing and family £5.9bn, up £1.18bn
  18. Nicky Oppenheimer and family, £4.57bn, up £785m
  19. Earl Cadogan and family, £4.2bn, up £525m
  20. Joseph Lau and family, £4.03bn, down £570m
  21. Sir Philip and Lady Green £3.88bn, no change
  22. Denis O'Brien, £3.85bn, up £486m
  23. Mike Ashley, £3.75bn, up £1.45bn
  24. Sir Richard Branson and family, £3.6bn, up £86m
  25. Idan Ofer, £3.43bn, new


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Sun, 05/11/2014 - 16:49 | 4748769 lolmao500
lolmao500's picture

Pushilin says after tonight all Ukrainian troops in the region are "illegal occupiers" says Interfax

So... will Russia come in and help wipe out the occupiers?


CNN places Eastern Ukraine into Pakistan

I bet not one of these dumbass CNN viewers even noticed.

Sun, 05/11/2014 - 16:56 | 4748802 ZerOhead
ZerOhead's picture

< Putin will invade

< Putin will wait patiently and watch the Ukraine situation deteriorate until the Nationalists/Facists/NeoNazis/IMF Banksters are eventually killed by their own countrymen

Sun, 05/11/2014 - 17:45 | 4748933 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

Anyone who thinks there are not Russian soldiers in Ukraine right now is foolish.

Sun, 05/11/2014 - 17:59 | 4748960 ZerOhead
ZerOhead's picture

Here... let me help you...

"Anyone who thinks there are not CIA assets and American mercenaries in Ukraine right now is foolish."

Mon, 05/12/2014 - 00:45 | 4749879 aminorex
aminorex's picture

anyone who thinks zerohedge is not infested with putin shills is brain dead.  new york and moscow will both have zero billionaires after the nuclear war which is coming.

Mon, 05/12/2014 - 06:51 | 4750163 old naughty
old naughty's picture

Let's see...

 London now has a whopping 72 billionaires, nearly double the number residing in New York!

so is this to say the BE will be twice as likely to be participating (in Soro's words, oligarchy participating) after Russia?


Mon, 05/12/2014 - 09:45 | 4750511 Offthebeach
Offthebeach's picture

Billionairs in the US have options. Boston, Fairfield County, Palm Beach, Omah, Dallas, LA, Seattle.

Russia, no so much.

Mon, 05/12/2014 - 08:49 | 4750356 sessinpo
sessinpo's picture

aminorex        anyone who thinks zerohedge is not infested with putin shills is brain dead.  new york and moscow will both have zero billionaires after the nuclear war which is coming.


So who is most likely to escape such a situation? Is it the commoner, the average citizen with less mobility? Or is it the billionaire that is more likely to have a private jet?

Sun, 05/11/2014 - 16:47 | 4748772 CHX
CHX's picture

That's why they fear deflation.

Sun, 05/11/2014 - 16:47 | 4748773 Smegley Wanxalot
Smegley Wanxalot's picture

They may have a lot of money and power, but they dont have the peace of mind that comes with being a debt slave.

Sun, 05/11/2014 - 16:50 | 4748782 CHX
CHX's picture

The former's "worth" is the latter's debt.

Sun, 05/11/2014 - 16:47 | 4748774 SoberOne
SoberOne's picture

Turn it into real assets or it means nothing.

Sun, 05/11/2014 - 16:48 | 4748780 Hobbleknee
Hobbleknee's picture

Who would want to live in New York?

Sun, 05/11/2014 - 16:50 | 4748785 Intelligence_In...
Intelligence_Insulter's picture

Wait are these people on the forbes top 100 richest people list. When did we get so many billionaires?  I thought there were only a dozen or two.

Sun, 05/11/2014 - 16:52 | 4748792 Bemused Observer
Bemused Observer's picture

Oh good. When we get them all corraled, encircle the place with concertina wire, cut off the utilities, and station 24-hour guard around the perimeter. Nothing in, nothing out. Let nature take its course.

In 25 years, you go in. If they are thriving, then everyone will know they truly ARE the 'makers'.

Wishful thinking, I know. But it WOULD be interesting to be among that first group to go in...

Sun, 05/11/2014 - 16:58 | 4748811 goldhedge
goldhedge's picture

You cant take it with you.

Mon, 05/12/2014 - 08:51 | 4750365 sessinpo
sessinpo's picture

 goldhedge      You cant take it with you.


And neither can I or you.

Sun, 05/11/2014 - 16:58 | 4748812 Unknown Poster
Unknown Poster's picture

The weather in Moscow is holding down their number.

Sun, 05/11/2014 - 17:01 | 4748815 I am Jobe
I am Jobe's picture

Screw the Brits, Amerika has Trailer Parks and White Trash. wait till Black Friday , now Brits don;t have that do they. Will fight for towels at WMT, 

USSA USSA USSA , Number 1 

Sun, 05/11/2014 - 17:59 | 4748963 giggler321
giggler321's picture

Funny I don't see Queeny on their?  I mean if the poor old Duke of Westminster can make the hit list after all of the property booms we've had over here @ 8.5 then being queen, head of state and ruler of commonwealth has got 2 b a tick or 2 above?  In days gone by, lordy folk seeming to be wealthier than head of country would put you right on que for the guillotine.

Sun, 05/11/2014 - 18:14 | 4749006 Cacete de Ouro
Cacete de Ouro's picture

And no mention of the Red Shields being far above the rest of them, as per usual

Sun, 05/11/2014 - 18:35 | 4749051 q99x2
q99x2's picture

This one sounds like a bad ass: He might want to help. German Khan, £6.08bn, new

Sun, 05/11/2014 - 18:43 | 4749075 syntaxterror
syntaxterror's picture

Get to work Mr. Chairman!

Sun, 05/11/2014 - 18:51 | 4749095 Goldilocks
Goldilocks's picture

Robbie Robertson - Somewhere Down The Crazy River (4:51)

Sun, 05/11/2014 - 18:56 | 4749104 Dublinmick
Dublinmick's picture

London would have to top this list, they have been stealing anything that wasn't nailed down for hundreds of years.

Sun, 05/11/2014 - 19:02 | 4749120 silverbitches
silverbitches's picture

Silver bitches


Sun, 05/11/2014 - 19:19 | 4749162 jomama
jomama's picture

when the day comes, it will be a doozy.

Sun, 05/11/2014 - 19:30 | 4749186 JuliaS
JuliaS's picture

I bet most of London billionaires are from Moscow.

Sun, 05/11/2014 - 20:26 | 4749360 novictim
novictim's picture

Regarding the methodology, are we double counting the Russian Oligarchs who have dachas in London?

I agree that the excess number of Londoners with Billion Dollar assets are mostly Russian oligarchs.


By the way, Russians, how do you feel about that?  Putin is not going after these kleptocrats and that disturbing your worship of this greatest, littlest Princess named Putin?

And why, dear Russians, would you ever want your neighbor cousins, the Ukrainians, saddled with your own out of control, corrupt system?  What kind of love is that?

Mon, 05/12/2014 - 08:54 | 4750368 sessinpo
sessinpo's picture

I am not a Putin supporter. But you are clearly a victim from the way you post.

Sun, 05/11/2014 - 20:39 | 4749398 Inbetween is pain
Inbetween is pain's picture

<<London now has a whopping 72 billionaires, nearly double the number residing in New York!>>


God, Tyler, will tell your idiot contributors to stop using that sophmoric word "whopping?"  It seems to pop up on every other article on ZH these days.

Sun, 05/11/2014 - 22:55 | 4749720 freedom5000
freedom5000's picture

Does this prove that zionism is run from the UK?

Mon, 05/12/2014 - 05:04 | 4750092 The Abstraction...
The Abstraction of Justice's picture

By Zionists, aye. And the English people are becoming more like Palestinians every day.

Sun, 05/11/2014 - 23:54 | 4749825 kurt
kurt's picture

Targeting Solutions:

Moscow, New York, London, Caymen Islands, Bern, Tel Aviv, 


More to follow

Mon, 05/12/2014 - 13:15 | 4751308 NihilistZero
NihilistZero's picture

Surely this is further proof that Putin is the noble crusader against the NWO worldwide oligarchy...

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