London is known for its diverse population and glamorous lifestyle, attracting people from all over the world. Among them are some of the wealthiest individuals on the planet. In this article, we will explore the number of billionaires living in London.
The Billionaire Capital of Europe
London is considered the billionaire capital of Europe, with more billionaires than any other city in the region. According to Forbes’ 2021 Billionaires List, London is home to 89 billionaires, up from 67 in 2020. This puts London in third place globally behind New York City and Beijing.
The Richest People in London
Among the richest people living in London are some well-known names like James Dyson, who made his fortune through his vacuum cleaner empire and has a net worth of $16.3 billion according to Forbes. Another notable name is Hinduja brothers, who have a net worth of $15.4 billion and made their fortune through their conglomerate business.
Other wealthy individuals residing in London include Sri and Gopi Hinduja, with a net worth of $12 billion; David and Simon Reuben, with a net worth of $10.6 billion; and Sir Leonard Blavatnik with a net worth of $9.3 billion.
Why Do Billionaires Choose to Live in London?
There are several reasons why billionaires choose to live in London. One reason is its favorable tax system for high-net-worth individuals, also known as non-domiciled residents or “non-doms.” Non-doms are able to pay tax only on their UK income rather than their worldwide income.
Another reason is that London provides access to some of the world’s best schools and universities, making it an ideal place for families with children.
Additionally, London’s cultural scene provides ample opportunities for entertainment such as theater shows or art exhibits that cater specifically to the high-end clientele that billionaires often are.
Conclusion
In conclusion, London is home to a significant number of billionaires, with 89 residing there in 2021. From favorable tax systems to access to top education and cultural opportunities, it’s no wonder why many of the world’s wealthiest individuals choose to call London their home.
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