London has more billionaires than any other city

London is home to more billionaires than any other city of the world, the 2014 Sunday Times 'Rich List' has revealed.

According to the just published Rich List, the capital city of the UK has 72 residents whose fortunes exceed £1 billion (nearly $1.6 billion), which ranks it well ahead of Moscow, New York and San Francisco, which 48, 43, 42 billionaires, respectively. Los Angeles and Hong Kong have 38 and 34 billionaires, respectively.

While London has 72 billionaires, the entire UK has 104 billionaires, with a combined fortune of more than £301 billion. It is the first time that the number of billionaires in the UK has soared above 100.

Indian-born brothers Srichand and Gopichand Hinduja, the owners of Hinduja conglomerate, grabbed the top spot in the list of British billionaires, with a combined fortune of £11.9 billion ($20.04 billion).

The list also includes Chelsea Football Club owner Roman Abramovich (£8.52 billion), Sports Direct owner Mike Ashley (£3.75 billion) and Virgin Group founder Sir Richard Branson (£3.6 billion).

The UK also has more billionaires per head than any other country of the world. There is one billionaire for every 607,000 people in the UK, versus one billionaire for every one million people in the U. S.