According to a Travel and Leisure, published report One out of every 24 people in New York City is a millionaire. And that’s a start.
As the saying goes, "You are the company you keep." And if you're hoping to keep some seriously rich company, it's time to head to these ultra-wealthy cities around the globe.
On May 7, Henley & Partners, a wealth investment firm, released its list of the World's Wealthiest Cities. It came to its conclusion using data from the wealth intelligence firm, New World Wealth, which tracks the "global wealth migration trends between countries and cities" and the movement of more than 150,00 high-net-worth individuals, with a special focus on company founders and individuals from high-value companies in C-suite positions, and those with $30 million in "listed company holdings."
It then defined cities based on their "normal city limits" with several exceptions, including "The Bay Area," which encompasses both San Francisco and Silicon Valley, Los Angeles, which includes the city of Los Angeles as well as Beverly Hills, Laguna Beach, Newport Beach, and Malibu, Miami, which includes both Miami and Miami Beach, Nice to Èze, which includes Nice and Èze as well as Beaulieu-sur-Mer, Saint-Jean-Cap-Ferrat, and Villefranche-sur-Mer, Athens, which includes both the city and surrounding beachfront area, Zurich, which includes the Canton of Zurich, and Geneva, which refers to the Canton of Geneva.
The company also shared its definition of "wealth," which it refers to as an "individual’s liquid investable wealth, which only includes listed company holdings, cash holdings, and debt-free residential property holdings." Additionally, it noted it defined "high-net-worth individuals" as those with $1 million or more in liquid, investable assets.
After creating all the parameters and crunching all the numbers, the team named New York City the wealthiest in the world, where one out of every 24 residents is a millionaire.
"The total wealth held by the Big Apple’s residents now exceeds $3 trillion — higher than the total wealth held in most major G20 countries — and a staggering 349,500 millionaires, 744 centi-millionaires (with investable wealth of over $100 million), and 60 billionaires live in the city," the company shared in a press release about its findings.
As the saying goes, "You are the company you keep." And if you're hoping to keep some seriously rich company, it's time to head to these ultra-wealthy cities around the globe.
On May 7, Henley & Partners, a wealth investment firm, released its list of the World's Wealthiest Cities. It came to its conclusion using data from the wealth intelligence firm, New World Wealth, which tracks the "global wealth migration trends between countries and cities" and the movement of more than 150,00 high-net-worth individuals, with a special focus on company founders and individuals from high-value companies in C-suite positions, and those with $30 million in "listed company holdings."
It then defined cities based on their "normal city limits" with several exceptions, including "The Bay Area," which encompasses both San Francisco and Silicon Valley, Los Angeles, which includes the city of Los Angeles as well as Beverly Hills, Laguna Beach, Newport Beach, and Malibu, Miami, which includes both Miami and Miami Beach, Nice to Èze, which includes Nice and Èze as well as Beaulieu-sur-Mer, Saint-Jean-Cap-Ferrat, and Villefranche-sur-Mer, Athens, which includes both the city and surrounding beachfront area, Zurich, which includes the Canton of Zurich, and Geneva, which refers to the Canton of Geneva.
The company also shared its definition of "wealth," which it refers to as an "individual’s liquid investable wealth, which only includes listed company holdings, cash holdings, and debt-free residential property holdings." Additionally, it noted it defined "high-net-worth individuals" as those with $1 million or more in liquid, investable assets.
After creating all the parameters and crunching all the numbers, the team named New York City the wealthiest in the world, where one out of every 24 residents is a millionaire.
"The total wealth held by the Big Apple’s residents now exceeds $3 trillion — higher than the total wealth held in most major G20 countries — and a staggering 349,500 millionaires, 744 centi-millionaires (with investable wealth of over $100 million), and 60 billionaires live in the city," the company shared in a press release about its findings.
https://www.travelandleisure.com/new-york-city-named-wealthiest-city-in…