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  #21  
Old Posted Apr 8, 2021, 2:50 PM
Ifactwo Ifactwo is offline
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Originally Posted by Nautica View Post
China probably created a lot of new billionaires by selling the world masks and gloves! Lol
Indeed, and vaccines too! By the way, I'm surprised that Mumbai is richer than New York.
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  #22  
Old Posted Apr 8, 2021, 3:13 PM
badrunner badrunner is offline
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Originally Posted by jbermingham123 View Post
Yeah the problem with LA is that its so decentralized. Its better to judge LA on a county level

In LA County there were 58 billionaires in 2017 https://laist.com/2017/05/15/la_billionaires_2017.php

And in Orange County there were 12 in 2017 https://www.ocbj.com/news/2017/mar/2...include-12-oc/

So thats at least 70 in greater LA and that doesnt include Ventura, SB, or Riverside Counties
Wasn't there another thread like this a few weeks ago where LA was #2 globally behind NYC? I think the criteria for that one was 30 million, which is probably more representative of the true wealth of a city, instead of just counting how many paper billionaires there are. If the cutoff was something more like 5-10 million, American cities would completely dominate the list.
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  #23  
Old Posted Apr 8, 2021, 3:19 PM
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I don't even see why having many billionaires would be an admirable thing.

What would be more interesting to me is to see what the stats are for the cities that do have the most billionaires, what is the income inequity in those cities.
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  #24  
Old Posted Apr 8, 2021, 4:10 PM
jtown,man jtown,man is offline
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Originally Posted by sopas ej View Post
I don't even see why having many billionaires would be an admirable thing.

What would be more interesting to me is to see what the stats are for the cities that do have the most billionaires, what is the income inequity in those cities.
If you aren't looking at median wealth then its a pointless exercise.
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  #25  
Old Posted Apr 8, 2021, 5:05 PM
fleonzo fleonzo is offline
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Originally Posted by Ifactwo View Post
Indeed, and vaccines too! By the way, I'm surprised that Mumbai is richer than New York.
Not sure where you got that info...??
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  #26  
Old Posted Apr 8, 2021, 6:14 PM
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Originally Posted by dimondpark View Post
SF now has 1 billionaire per square mile
More likely about 24/sq mile in the two square miles (Pacific Heights, Sea Cliff) where they all live. Actually, that's probably closer to 40/sq mile in Pacific Heights and 7 or so/sq mile in Sea Cliff (mostly new money celebs).
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  #27  
Old Posted Apr 8, 2021, 6:24 PM
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Originally Posted by The North One View Post
Because China is not communist, at least not yet. That's not like some secret. They're supposedly working toward that goal.
Maybe not Communist but certainly Stalinist. Jack Ma found that out the hard way. He and the other tech fat cats like him may be billionaires on paper but the money will never be safely theirs until they get it out of China.

Quote:
Why Do Chinese Billionaires Keep Ending Up in Prison?
REBECCA CHAO
JANUARY 29, 2013

In most places, being ranked by a prominent magazine among the wealthiest people in the country constitutes a great honor. Not in China. Such lists, known as bai fu bang in China and published in Forbes and its Chinese equivalent Hurun, are described instead as the sha zhu bang: "kill pigs list."

In the last fifteen years, China has produced greater overall wealth than any other country. The number of its billionaires has gone from a mere 15 to around 250 in just six years, but for a number of these people this vaulted status is short-lived. According to one study, 17 percent of those on the list end up squealing their way to court or end up in jail. If they're lucky, those who are caught are investigated and jailed. Some are even executed . . . .
https://www.theatlantic.com/internat...prison/272633/

Perhaps Beijing leads the list because that's where the prison that houses them is.
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  #28  
Old Posted Apr 8, 2021, 10:16 PM
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New York will have no billionaires if they pass this latest tax increase
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  #29  
Old Posted Apr 16, 2021, 11:39 AM
CityAmateur CityAmateur is offline
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Originally Posted by jbermingham123 View Post
From my experience in China, the best way to describe whats going on is that China is a subcontinent, not too unlike Europe, being run as a giant for-profit conglomerate corporation posing as a unitary state, called the CCP. The CCP owns all the land and collects property taxes legally as "rent". They have a C-suite of executives, the CEO being Xi, although unlike a CEO, Xi essentially answers to no one. They operate without rule of law, distributing and coordinating resources and people as they see fit, just like a company. In this day and age, a nation state cant forcibly relocate people or resources on a whim.. but a company sure can.

The corporate nature of the CCP is why China doesnt play fair in any of the world's international systems, especially intellectual property law: They are not trying to be an ethnno-state like the various nations of Europe... being a "country" is not the goal. The CCP couldnt turn China into an ethno-state even if they wanted to, because they already rule over hundreds, if not thousands, of different ethnicities just within China. Whether we choose to realise it or not, the CCP is not China, they are an absolutely massive conglomerate corporation currently in control of all the property in China, and they are operating on the world stage just like any other corporation: they are playing to win
You make excellent points. In essence, China does not see itself as a "country" or Nation" though to be sure the Han are the core of the identity. I would argue that neither does it see itself as a sub-continent. China sees itself as "The Middle Kingdom"...the core round which the world revolves. Mughals, Europeans, Americans, etc come and go but the Middle Kingdom remains thinking not in election cycles but in generations even centuries.

You are quite right in saying they are playing to win...and they fully expect to.
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  #30  
Old Posted Apr 16, 2021, 6:55 PM
austlar1 austlar1 is offline
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Originally Posted by CityAmateur View Post
You make excellent points. In essence, China does not see itself as a "country" or Nation" though to be sure the Han are the core of the identity. I would argue that neither does it see itself as a sub-continent. China sees itself as "The Middle Kingdom"...the core round which the world revolves. Mughals, Europeans, Americans, etc come and go but the Middle Kingdom remains thinking not in election cycles but in generations even centuries.

You are quite right in saying they are playing to win...and they fully expect to.
Well said!
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  #31  
Old Posted Apr 16, 2021, 11:45 PM
jd3189 jd3189 is offline
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Very interesting take on what China is. Sounds like a mega corporation.
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  #32  
Old Posted Apr 17, 2021, 12:54 AM
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Quote:
Originally Posted by dimondpark View Post
WOW, it's apparently raining money in China

Anyhow, here is Forbes' Ranking of the World's Top 10 Billionaire Cities for 2021, this is based on CITY PROPER, so for New York, just the 5 boroughs(does not include CT, NNJ or Long Island, which would undoubtedly vault NY well past Beijing), and for SF, just the 47 sq miles--so SF now has 1 billionaire per square mile

Rank/City, Billionaires(change from last year)
1 Beijing, 100(+33)
2 New York, 99(+7)
3 Hong Kong, 80(+9)
4 Moscow, 79(+9)
5 Shenzhen, 68(+24)
6 Shanghai, 64(+18)
7 London, 63(+7)
8 Mumbai, 48(+10)
8 San Francisco, 48(+11)
10 Hangzhou, 47(+21)

https://www.forbes.com/sites/johnhya...h=496b69ec43e3
That Forbes list doesn't square with this Forbes list for the same year. Above has the number for London at 63 yet below it says there are only 56 in the entire UK.




https://www.forbes.com/sites/giacomo...h=7e00318379b2
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Last edited by isaidso; Apr 17, 2021 at 1:09 AM.
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  #33  
Old Posted Apr 17, 2021, 12:51 PM
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I imagine they don't square up as a billionaire who's nationality is say, Indian may base himself/ park his money elsewhere, ie in London. For example, UK's richest people were for a long time the Hinduja brothers from Mumbai.
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  #34  
Old Posted Apr 17, 2021, 6:24 PM
iheartthed iheartthed is offline
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Originally Posted by isaidso View Post
I'm a bit surprised that Germany has the most billionaires in Europe. You almost never hear about German billionaires, but always hear about the U.K.'s billionaire class.
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  #35  
Old Posted Apr 17, 2021, 6:46 PM
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Originally Posted by bilbao58 View Post
Also a lot of billionaires for a supposedly communist country.
China is authoritarian with a lot of state-directed capitalism, but it sure as shit isn’t communist anymore.
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  #36  
Old Posted Apr 17, 2021, 6:47 PM
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Originally Posted by iheartthed View Post
I'm a bit surprised that Germany has the most billionaires in Europe. You almost never hear about German billionaires, but always hear about the U.K.'s billionaire class.
That’s because they are discrete. Germans generally don’t talk about money and loathe flashiness.

And it’s not usually British billionaires that you hear so much about, but foreign billionaires in London.
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There is a cult of ignorance in the United States, and there always has been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." - Isaac Asimov
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  #37  
Old Posted Apr 17, 2021, 11:37 PM
Qubert Qubert is offline
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Quote:
Originally Posted by isaidso View Post
That Forbes list doesn't square with this Forbes list for the same year. Above has the number for London at 63 yet below it says there are only 56 in the entire UK.




https://www.forbes.com/sites/giacomo...h=7e00318379b2
On a per capita level, Sweden has almost twice as many billionaires as the US.
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  #38  
Old Posted Apr 18, 2021, 2:19 PM
CityAmateur CityAmateur is offline
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Originally Posted by 10023 View Post
That’s because they are discrete. Germans generally don’t talk about money and loathe flashiness.

And it’s not usually British billionaires that you hear so much about, but foreign billionaires in London.
Culturally, financially, economically and in so many ways London is a city-state. Akin to say Singapore.

As you say the majority of its billionaires are not British but then the majority of its population is no longer British either.

Non-Tory in a largely Tory England. Pro EU, Deeply and totally unconcerned with the rest of the UK and looking to the world instead.

With the UK possibly on the point of breaking up, it may be fascinating to see how the relationship of a new English polity will be with the no longer English city the nation's institutions reside in.
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