Beijing City, the capital of China, has more billionaires than New York City as of 2021. Based on a list of the world’s richest people for this year, there are now 100 billionaires living in Beijing. The city’s fast action towards COVID-19 and the growth of its technologies industry are some of the reasons why it gained many billionaires. Zhang Yiming, the founder of the video-sharing app TikTok is the richest resident of Beijing with $35.6bn while former Mayor Michael Bloomberg is New York’s richest resident with $59bn. Both China and the US have benefited from the increasing number of online shoppers during the COVID-19 pandemic. Many companies gained personal wealth from the success of entertainment and shopping websites. China now has a total number of 668 billionaires. Jeff Bezos, the founder of Amazon, is still the world’s richest person.