Beijing beats New York as world billionaire capital

Beijing

BEIJING has surpassed New York City to become the "billionaire capital of the world" with 100 resident billionaires to the US business and cultural capital's 95, a survey showed.

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