Oct 11 2018

Istanbul among cities with the highest number of billionaires

Istanbul is among the 20 cities in the world hosting the highest number of billionaires, according to intelligence and data company Wealth-X’s recent ranking, BBC Turkish said.

With its 36 billionaires, Istanbul was ranked 12th 2017. The number of billionaires in Istanbul increased by eight between 2016 and 2017.

The report prepared by Wealth-X shows that 10 cities among the top 20 with the highest number of billionaires are in developing countries and the newcomers increased the number of people with a wealth of at least $1 billion to a record level of 2,754.

Istanbul also has the highest level of income inequality in Turkey, according to the Turkish Statistical Institute’s 2017 data.