We know plenty of billionaires read this blog – you know who you are – and now it’s clear you’re probably local. According to a recent report, the San Francisco Bay area saw a 20% surge in the number of billionaires in the area in the past year alone. This brings the Bay Area’s total to 82 billionaires, compared with New York City’s 66.
The Bay Area is also second in the world in the number of millionaires with 342,400, as well as second place in the number of centimillionaire residents (net worths of $100 million or more) with 756.
Of course, this is due primarily to it’s dominance in the global high-tech sector. Thus, this is essentially “new money” while New York is predominately “old money.”