Quote:
Originally Posted by Crawford
Ok, but these issues aren't why Istanbul is on this list.
Turkey has extreme income inequality and a pretty big economy, so many billionaires, and it's a highly centralized nation, so they're all in Istanbul. It doesn't really speak to Istanbul's greatness but rather Turkey's relative economic stratification and considerable might.
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Agreed, I was more reacting to people who seemed surprised that the city could be developed or important; it always has been basically.
It's easy to have lots of billionaires in your city when a couple individuals or families own the entire economy, rather than having share ownership diffused across the equity markets.