>When the U.S. economy was riding high for most of the 20th century, it would have been impossible to imagine a foreign city–especially one in a Communist country–with more of the planet’s very richest than New York, home of old-money Wall Street. But that indeed is the case. Today Moscow is the city with the most billionaire residents in the world.

The Russian capital boasts 79 billionaires, a stunning increase of 21 in just one year. That more than edges out No. 2 New York, with 59 billionaires, and No. 3 London with 41. Other cities in the top 15 include such rising stars as Mumbai, Taipei, Sao Paolo and Istanbul. Los Angeles manages a tie for No. 8.

The combined fortunes of Moscow’s billionaire population top $375 billion, more privately amassed wealth than in any other city in the world.