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New York City lost its crown of being the home to most number of dollar billionaires to Beijing, according to the latest Forbes’ annual rich list released on Wednesday. While NYC added 7 new billionaires,

 

Beijing added 33 billionaires as China quickly bounced back from the coronavirus disease (Covid-19) pandemic which has adversely impacted the global economy.

 

A record number of new billionaires in Beijing took the Chinese capital from the fourth position to the first position.