Pelosi's San Francisco Has Highest Concentration of Billionaires in the World
Democratic House speaker's city also boasts world's filthiest slums
Democratic House Speaker Nancy Pelosi's San Francisco has more billionaires per capita than any other city in the world, new data shows.
A new wealth study has revealed that Pelosi's home has the highest concentration of billionaires, by far, when compared to all other cities on Earth.
The latest annual study by Wealth-X finds that the Californian city has over seven times the density of billionaires to New York City, which comes in second place.
San Francisco had one billionaire for every 11,612 inhabitants in 2018, followed by New York, which had one for every 81,311 residents.
Los Angeles was the only other U.S. city to make the top ten and comes in at number five.
Pelosi, who represents California’s 12th Congressional District, lives in San Francisco, which, aside from its record-breaking number of billionaires, is also home to some of the world's filthiest slums.
Billionaire Density (inhabitants per billionaire) in 2018:
- San Francisco 11,612
- New York 81,311
- Dubai 84,007
- Hong Kong 84,962
- Los Angeles 101,957
- London 135,198
- Hangzhou 143,677
- Singapore 143,904
- Moscow 176,145
- Beijing 223,000
- Shenzhen 294,636
- Tokyo 317,750
- Mumbai 327,431
- Sao Paulo 362,661
- Istanbul 462,629
The study attributes San Francisco’s high density of billionaires to “the size and scale of the tech sector in a city of less than one million inhabitants.”
In 2018, the total number of billionaires in the U.S. increased by 3.7 percent to 705, accounting for 27 percent of the global billionaire population and 35% of total billionaire wealth worldwide.
Total billionaire wealth in the United States declined 4.9 percent to $3,013,000,000,000 – but it still exceeded that of the next eight countries combined.
In stark contrast, however, a study last year found that San Francisco has become home to some of the world's filthiest slums.
The Californian city has been found to have dirtier conditions than slums found in third world countries such as India or Kenya.
According to an investigation by NBC, large areas of the city are covered in needles and feces, as hospitals are struggling to cope with the influx of patients that have fallen ill as a result of the contamination from the third-world living conditions.
The Investigate Unit spent three days assessing conditions on the streets of downtown San Francisco and discovered trash on each of the 153 blocks surveyed.
While some streets were littered with items as small as a candy wrapper, the vast majority of trash found included large heaps of garbage, food, and discarded junk.
The investigation also found 100 drug needles and more than 300 piles of feces throughout downtown.