The cities in the world with the most billionaires have been named by Forbes magazine, with New York returning to the top.
Moscow was the winner last year but it has seen its number of US dollar billionaires fall dramatically from 74 to 27 as a result of the world financial crisis.
New York has also fallen, though only from 71 to 55, and many of its wealthiest people have taken a hit - private equity billionaire Stephen Schwarzman lost US$4 billion in the past year, while News Corp chairman Rupert Murdoch and real estate titan and TV celeb Donald Trump have also lost out.
Moscow has been hit by plunging oil, real estate and commodity prices, plus a decline in the value of the Russian ruble against the US dollar.
But it is still home to Russia's richest man - metals mogul Mikhail Prokhorov who Forbes says is worth US$9.5 billion.
The top 10 cities where billionaires live:
1. New York (55)
2. London (28)
3. Moscow (27)
4. Hong Kong (21)
5. Los Angeles (17)
6. Dallas (14)
7. Istanbul (13)
8. San Francisco (12)
9. Chicago (10)
Mumbai (10)
Sao Paolo (10)
Tokyo (10)
- NZ HERALD STAFF
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