Chart of the week: Why billionaires love London

When it comes to buying up mansions, London is the city of choice for the world's billionaires.

691-billionaires-chart

The typical billionaire has the resources to choose to live wherever they like. So it says something about Britain that the country hosts by far more billionaires (in sterling terms) per head of population than any other nation, according to the latest figures from The Sunday Times Super-Rich List.

Most of the 104 billionaires living here are in London, as the chart shows far more than in Moscow, the next-most popular city.

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So why is the UK so appealing? As John Arlidge notes in The Sunday Times, it's a mixture of things. We offer good schools, political stability and respect for the rule of law.

On top of that, getting a visa is easy (you can start by investing £1m in gilts); the tax regime is forgiving non-doms' aren't taxed on global income, unlike in America; and Britain's banks "ask comfortably few questions" about the source of a billionaire's wealth.

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