New York, New York: So rich they named it twice. Photo / File
New York, New York: So rich they named it twice. Photo / File
New York has been named the wealthiest city in the world.
According to a new report into the World’s Wealthiest Cities there are 340,000 millionaires, 724 centi-millionaires, and 58 billionaires that call the Big Apple home.
Published by Henley & Partners, who also compile the quarterly Passport Index, the report is designed to keep track of the world’s wealthiest individuals and fastest growing cities.
Tokyo lands at number 2 with an impressive 290,300 resident millionaires, 250 centi-millionaires, and 14 billionaires. However the 10 year growth index shows that the number of high-rollers in the Japanese city is shrinking, dropping by 5 per cent.
Number 3, San Francisco topped the global billionaire’s club in World’s Wealthiest Cities List, with 63 residents banking over nine zeroes according to the data. Although there were -55,000 fewer millionaires on the West Coast versus those with a Manhattan address.
There are 5860 millionaires to every billionaire in New York, veruses the top heavy 4523 millionaires per billionaire in the Bay Area.
Sydney broke into the top 10 wealthiest cities with 126,900 resident millionaires, 184 centi-millionaires, and 15 billionaires and was by far the ‘wealthiest’ in the south Pacific.
Auckland is a distant 37th in the table with 24,500 millionaires, but was fast closing ranks.
Recording 43 per cent growth in “High Net Worth Individuals” over the past decade, versus Sydney’s 35 per cent growth, Auckland’s stock is rising with multi-millionaires.
The ranks cities by the number of millionaires, centi-millionaires and billionaires in $US that call them home. The annual report also keeps track of the growth of ‘High Net Worth Individuals’ over a 10 year range.
With the exchange rate of US$1:$161, the NBR Rich List shrinks to just 2 billionaires in Tāmaki Makaurau.
“When it comes to the number of resident millionaires, cities in the USA and China dominate the Top 10 Wealthiest Cities in the World, while only one European city, namely London, makes it onto the 2023 list,” wrote Andrew Amoils, head of research for intelligence firm New World Wealth.
Of course millionaires, like their money, are highly mobile.
Spring time in Paris: The French capital has a large population of migrant millionaires. Photo / Getty Images
The report also recorded cities that saw the biggest seasonal influx of multi-millionaires. Miami saw the top summer Influx of 160 resident NHWIs increasing by 800. This beat second place Paris’ influx of 300 fair-weather millionaires by a margin.
It was Aspen, Colorado, that saw the largest increase of holidaying millionaires. Richlisters increased 3333 per cent from 6 to over 200 with the ski season.
Moscow was the fastest shrinking pool of oligarchs. The Russian capital has seen a 44 per cent reduction in wealthy residents. Although at rank 33 in the wealth list, there were still 35,200 millionaires and 28 billionaires in squats on the Moskva.
