New York City is home to more than 345,600 millionaires and is considered the richest city in the world. This is according to a new report.
The data also shows that the San Francisco Bay Area, the second richest city in the USranks third among the richest cities in the world.
According to the report according to the investment migration consultancy Henley & Partners, 59 billionaires and 737 centimillionaires, with assets of $100 million or more, live in the Big Apple.
The total private wealth of New York City residents exceeds $3 trillion, which is more than the total personal wealth of most of the major G-20 countries.
The San Francisco Bay Area, which also includes Silicon Valley, has approximately 276,400 millionaires, 623 centimillionaires and 62 billionaires.
Los Angeles, Chicago and Houston are three other US cities in the top 10, ranking 6th, 7th and 8th respectively.
Los Angeles is home to 192,400 millionaires, 393 centimillionaires and 34 billionaires, while 160,100 millionaires, 340 centimillionaires and 28 billionaires live in Chicago. Chicago is also home to 35 Fortune 500 companies.
Houston has 132,600 millionaires, 314 centimillionaires and 25 billionaires. The report also says that Austin, Texas, along with West Palm Beach and Miami, have become major hubs for high net worth retirees.
These are the ten richest cities in the world.
1. New York, USA (345,600)
2. Tokyo, Japan (304,900)
3. San Francisco Bay Area, USA (276,400)
4. London, United Kingdom (272,400)
5. Singapore, Singapore (249,800)
6. Los Angeles, USA (192,400)
7. Chicago, USA (160,100)
8. Houston, USA (132,600)
9. Beijing, China (131,500)
10. Shanghai, China (130,100)
Originally published October 1, 2022.
Photo: Helen Alfvegren on flickr