City Is Home to Twenty Billionaires

pic: courtesy of DonkeyHotey flickr cc

SAN FRANCISCO: The city of San Francisco is home to 20 Billionaires according to the findings of a new study out today. 

The report, the first-ever global study of this ultra high net worth (UHNW) shows that the United States is home to a total of 515 billionaires nationally, with a combined net worth of more than $2 trillion



Although most of the ultra-wealthy prefer to base themselves on the East Coast and especially New York, other cities, including San Francisco are proving a popular destination. 

SUPER RICH HOTSPOTS 
The Wealth X and UBS Billionaire Census highlights super-rich hotspots across the country.
Ninety-six billionaires have a primary business address in New York. 

• Los Angeles has 22 billionaires.
  
• Chicago has 21 billionaires.  
  
• San Francisco has 20 billionaires.
  
•  Houston has 14 billionaires.
  

USA 
According to the figures, the United States accounts for 34 percent of the combined net worth of the world's billionaires. The average net worth of an American billionaire is US$4 billion, of which 25 percent are liquid assets.

In terms of wealth source, the Wealth-X and UBS Billionaire Census 2013 reveals that 68 percent of America's billionaires made their fortunes, 22 percent inherited their wealth, while ten percent inherited and grew their wealth.

AVERAGE AGE / GENDER / EDUCATION
The average age of an American billionaire is 67 years old, which is above the global average of 62. Eighty-eight percent of the country's billionaires are male. 

Eighty percent of America's billionaire population have at least a college degree, with Harvard, Stanford and University of Pennsylvania being the most popular higher education institutions.

Wealth-X President David Friedman commented: "It's not surprising that – since the United States leads in terms of the number of billionaires – New York, the global financial capital, is the top place where billionaires congregate." 

To download the Wealth-X and UBS Billionaire Census 2013, visit the report's microsite at www.billionairecensus.com

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