Yesterday, on 26th February 2016, Beijing (Capital City of China) has surpassed New York City (City in USA) to become the "billionaire capital of the world", with 100 resident billionaires to the US business and cultural capital's 95.

The number of Beijing billionaires rose by 32 from last year, while New York's only rose by four, according to the Hurun Report, a China-based publisher of luxury magazines and also compiler of an annual list of the country's richest people.

Moscow (Capital City of Russia) came in third, with 66 billionaires.

Different lists of the world's wealthiest, including Forbes, Bloomberg and Hurun, produce different results based on varying methodologies.

Last year, Greater China surpassed the US to become home to the largest population of billionaires in the world, Hurun said in a previous October report. The new figures show that the region has 568 billionaires with a combined net worth of $1.4 trillion, a sum comparable to the GDP of Australia! In comparison, 535 billionaires call the US home.

China's richest man, real estate and entertainment magnate Wang Jianlin, is ranked 21st on Hurun's list of the world's richest people. He has a net worth of $26 billion, behind people like Microsoft founder Bill Gates, Facebook CEO Mark Zuckerberg and investor Warren Buffett.

Other Chinese billionaires on the list include Jack Ma, founder of Alibaba, and the heads of tech giants Tencent and Baidu, as well as the chief executives of leading beverage producer Wahaha and electronics company Xiaomi.

Hope you found this article informative and interesting! ^-^