The Rat Race Is Real: One In Every 25 New Yorkers Is A Millionaire
Do you live in New York? Did you leave your house today? Chances are you saw several millionaires.
A new study released Tuesday estimates that over one in 25 New Yorkers is a bonafide millionaire.
On a list of the top 20 global cities based on the percentage of their population whose net worth reaches $1 million, New York ranks fourth, with 4.63 percent of New Yorkers being millionaires.
Houston and San Francisco, ranked 18th and 19th respectively, are the other US cities to secure a spot in the top 20 cities with the highest concentration of millionaires.
New York has long been the bastion of wealth not only in America, but the world. It has the second largest millionaire and largest billionaire population of any global city.
The first three spots were nabbed by Monaco, Zurich and Geneva.
Favourable tax and outstanding location are important criteria for attracting clusters of millionaires, but so too is ready access to wealth managers and private banks.
Switzerland’s two financial hubs of Zurich and Geneva are traditional havens of private banking, but so too is London, the world’s third largest home of millionaires.
These rankings are important, as wealthy individuals do indeed base their residences on these factors. In any case, the New York ranking bodes pretty well for me finding a rich boyfriend.
Here’s the total list broken down by density of millionaires:
1. Monaco (29.21%)
2. Zurich (27.34%)
3. Geneva (17.92%)
4. New York (4.63%)
5. Frankfurt (3.88%)
6. London (3.39%)
7. Oslo (2.90%)
8. Singapore (2.80%)
9. Amsterdam (2.63%)
10. Florence (2.59%)
11. Hong Kong (2.58%)
12. Rome (2.54%)
13. Dublin (2.40%)
14. Doha (2.31%)
15. Toronto (2.29%)
16. Venice (2.25%)
17. Brussels (2.11%)
18. Houston (2.09%)
19. San Francisco (2.07%)
20. Paris (2.04%)