Hong Kong is once again the city with the second most billionaires in the world. Please do not hesitate to contact me. The top 10. San Francisco also relishes in its reputation as the sixth largest economy in the US. According to the United Nations' latest report on populations in cities, by 2030, "urban areas are projected to house 60 percent of people globally and one in every three people will live in . The manufacturing and export hub across from Hong Kong added five members to the three-comma-club in the last year, all of them self-made. 13. Frankfurt in Germany is the second richest city after Dublin with an income of $102,941 per capita. It leverages a comprehensive data set that tracks the movements and spending habits of high-net-worth individuals in over 150 cities around the world. Liz Flynn has worked as a full-time writer since 2010 after leaving a career in education. And for the sixth year in a row, more billionaires call New York City home than any other city in the world. Leading cities with the most billionaires in 2022 [Graph]. $516.5. Moreover, much of London's wealth is concentrated in neighborhoods like Westminster, Kensington, Islington, and Chelsea. Though London had a net gain of one new billionaire this year, this city that appeals to the worlds elite actually has five new billionaire residents who hail from outside the United Kingdom, including Russian brothers Dmitry and Igor Bukhman, founders of online gaming firm Playrix; and Camilla de Godoy Bueno Grossi, who inherited part of the fortune of her late father, Brazilian healthcare tycoon Edson de Godoy Bueno. Ranked: Americas Best Places to Work in 2023, Mapped: GDP Growth Forecasts by Country, in 2023, Charted: Teslas Unrivaled Profit Margins, Ranked: The Top Online Music Services in the U.S. by Monthly Users. Which Countries Have the Lowest Inflation? The 10 Best Places to Live in Mexico for Americans, The 20 Cheapest Places to Buy Land in the U.S. 2022, 20 Cities with The Worst Weather in Europe, How Zac Stacy Achieved a Net Worth of $6 Million. The richest person in New York City is Bloomberg LP founder and former Mayor, $1 billion of his $48 billion fortune on a failed presidential campaign before dropping out in March to endorse Joe Biden. Paris, which has topped the ECA list in the past, dropped out of the top 30. The Periodic Table of Commodity Returns (2013-2022), Visualizing 25 Years of Lithium Production, by Country, Ranked: The Worlds Largest Copper Producers, All the Metals We Mined in 2021: Visualized, Chart: Automakers Adoption of Fuel-Saving Technologies, Explainer: What to Know About the Ohio Train Derailment, A Visual Crash Course on Geothermal Energy. U.S. Inflation: How Much Have Prices Increased? Alongside its growing wealth, San Francisco is also one of the fastest growing cities in the country. Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. The Shenzhen Special Economic Zone was created in May of 1980 and is based on Irelands Shannon Free Zone. The cities shown in our visualization are already well-established locations for high-net-worth individuals. Tourism not only pumps money into San Francisco's economy by way of tourist spending, it also offers a source of jobs in the city. Are you interested in testing our business solutions? Moscow is the only other city among the top 10, besides Shenzhen, where every single billionaire is self-made (as opposed to inheriting a fortune); many have close ties to Russian President Vladimir Putin. Industries that have found success in the city include food processing, manufacturing, publishing, insurance and tourism. Additionally, the world's major companies are headquartered in Seoul, which include Samsung, Hyundai, LG, and Kookmin Bank. Boasting a population of over 300,000 resident millionaires, Tokyo is also home to a dozen billionaires. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. Hong Kong is once again the city with the second most billionaires in the world. Being one of Asia's most wealthy countries, South Korea is home to the capital Seoul, which witnessed an 11% increase in its millionaire population between 2019 and 2020, despite facing a global pandemic. Other companies crucial to Seouls economic health include: Kia, Daewoo and Hyundai. In the list of Forbes' Philippines' 50 Richest 2020, the Sy siblings remain at the number one spot of Philippines' Rich List for this year with a net worth of $13.9 Billion despite losing $3.3 Billion due to the pandemic. 9 last year. Which cities and regions have the biggest concentrations of millionaires around the world, each with a net worth greater than $1 million (USD)? Beijing's richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion. Ranked: The Worlds Richest Billionaires Over the Past 10 Years, All of the Worlds Money and Markets in One Visualization (2022), The U.S. and China Account for Half the Worlds Household Wealth, Charting the Relationship Between Wealth and Happiness, by Country, Mapped: The Wealthiest Billionaire in Each U.S. State in 2022, Poll: Inflation is the Top Financial Concern for Americans, From New York to Damascus, this infographic uses EIU cost of living data to rank the worlds most and least expensive cities to live in. The median home value for the lower Tribeca area is around $2.5 million. Despite being significantly smaller than Los Angeles, San Francisco houses more millionaires than its southern California counterpart. Top Cities in the World to Visit. New York, U.S . The San Francisco Bay Area boasts 276,400 millionaires. Furthermore, the Big Apple was also a popular destination for entrepreneurs and innovative businesses, furthering its reputation as a financially-savvy city. , is also Chinas richest restaurateur the owner of Sichuan hot pot chain Haidilao is $4.2 billion richer than he was in 2019, thanks to a 53% rise in the companys stock over the past year. Out of the 2,095 members of the 2020 Forbes Worlds Billionaires list, 552 live in just ten cities. 12. Singapore has one of the highest densities of millionaire households in Asia, with over 5% of households having at least $1 million USD in net financial assets. Montgomery Street is considered the Wests Wall Street and is located in San Francisco. Palo Alto - $147,537 Although she spends most of her time writing, she also enjoys spending time with her husband and four children, watching films, cooking, dining out, reading, motorsports, gaming, and walking along the beach next to her house with her dog. RICHEST RESIDENT: VLADIMIR POTANIN, $19.7 BILLION Getty Images Moscow is the only other city among the top 10, besides Shenzhen, where every single billionaire is self-made (as opposed to. + - Leaflet | Tiles OpenMapTiles | Data OpenStreetMap contributors Income distibution for all U.S. cities Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. Being a prominent city in Asia, Shanghai is home to over 24 million people, there are about6,180 multi-millionaires and 42 billionaires living in Shanghai. Though famous for prominent technology companies and hundreds of start-ups across the Silicon Valley, San Francisco's wealth is tied to industries in manufacturing and tourism. Mumbai - City Of Dreams. Learn how your comment data is processed. It checks all the boxes when it comes to being an economically successful place: physical connectedness (ports, rivers, public transporatation), investment opportunities (access to venture capital), and attracting a crowd of skilled individuals from around the globe, nurturing a culture of innovation. New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. NYC has held the title of the wealthiest city in the world for many decades now, housing around 59 billionaires and a whopping 345,600 millionaires! Other Shanghai entrepreneurs are newcomers to the list, including Wang Jilei, who draws his wealth from express delivery firm ZTO Express, and Chen Rui, whose anime and entertainment site Bilibili saw an uptick in demand after it gave residents of locked down areas free access to premium content. Image Source. Singapore and New York City tied for the first rank amongst the worlds most expensive cities in 2022, pushing Israels Tel Aviv from the first place in 2021 to the third place in 2022. Tokyo is also a major center for banking and insurance, and is home to many multinational companies like Honda and Sony. In pre-Covid times, Chicago clocked round 55 million tourists in 2017. Otherwise, the city serves as a global financial centre, due to its large abundance of banks, insurance companies, and financial service centres. Beijing is the capital of China and has a population of over 20 million. For instance, the city of New York is a metropolitan area made up of 5 boroughs with each borough contributing to the cities overall GDP. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. 2 on the list, but the city recorded a net loss of eight billionaire residents. I cover the world's richest people and how they made their billions. Another crucial element is the neighborhood of Zhongguancun. Today, with 272,400 millionaires, the city holds a more humble position. This city's success is due to its industrial and manufacturing activity, made up of a technology-savvy and highly skilled work force. At its peak, General Motors enjoyed a 50% market share in the United States. ", Hurun Research Institute, Leading cities with the most billionaires in 2022 Statista, https://www.statista.com/statistics/299494/billionaires-top-cities/ (last visited March 04, 2023), Leading cities with the most billionaires in 2022 [Graph], Hurun Research Institute, March 17, 2022. It is the largest urban economy on the planet. The city-state of Singapore is the wealthiest country in Asia, with a per-capita GDP of . Till 2030, Tokyo city will project to be the top-most populated city on earth. Adding to the diversity are biotech companies and information technologies. Shanghai. Tokyo is the most fascinating city to live in but also the most densely packed. The LSE is one of the largest stock exchanges in Europe, encompassing assets from over 2,400 companies, with many of these companies using London as their central headquarters. Media mogul turned politician Michael Bloomberg, founder of Bloomberg, is the . American retail corporation Walmart has been the world's largest company by revenue since 2014. Seven cities have population more than 3 million. Japans largest city is home to the Tokyo Stock Exchange, which is one of the largest stock exchanges in Asia by market capitalization. Though still bruised and battered by the effects of the pandemic, New York City is holding true to its reputation as a tough and resourceful city. It goes without saying that due to its history tourism is a huge draw when it comes to obtaining revenue. According to Jennifer Reynolds, Pre4sident and CEO of Toronto Finance International, Torontos success is due in large part to the strength and significant growth of its financial industry. Monaco - 29.21% Millionaires. To make the list, the EIU examines 400+ prices for over 200 products and services in 172 cities, surveying a variety of businesses to track price fluctuations over the last year. The Richest Cities are shown below, based on GDP (Gross Domestic Product) data from 2011. Another industry that rains gobs of revenue on the City of London is the tourism industry with over 20 million visitors per year. Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. These four cities are home to 228 billionaires. London is known for its financial and business sectors, and it attracts a significant number of high-earning professionals who contribute to its reputation as a hub of wealth and luxury. Travel + Leisure. This statistic is not included in your account. Property prices, across the board in Hong Kong in late 2019, damaging the real estate industry that is the source of wealth for many of the citys richest, including Hong Kongs sole, Moscow is the only other city among the top 10, besides Shenzhen, where every single billionaire is self-made (as opposed to inheriting a fortune); many have close ties to Russian President Vladimir Putin. Their net worth is based on the data from 2022 available on their respective Forbes profiles. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. 29. Profit from the additional features of your individual account. This may not be surprising, considering the U.S. is the world's largest wealth marketit holds over 29% of the world's wealth. 1. Fortune Global 500 companies include SK Holdings, POSCO, LG Electronics and more. If you live in a city where many residents find it challenging to put a roof over their heads, food on their plates, and make ends meet, you live in an expensive city. As a Premium user you get access to background information and details about the release of this statistic. The richest city in the world is Tokyo. Five are new billionaires from the finance industry, including private equity wizards, . At 35 years old, Mark Zuckerberg is the youngest richest person by more than a decade. Sweeping sunsets, desert landscape, and breathtaking canyonsthese are the things that most everyone think of when someone says Arizona. More than 80% of Russias, call its capital home, including mining mogul. Mapped: Which Countries Have the Highest Inflation? China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. In particular, the United States claims five of the cities in the top 10, including the very top spot with New York City. L.A. makes good use of both job training programs and development projects. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. Rising development costs and foreign competition had already, the fortunes of South Koreas pharmaceuticals sector, before coronavirus concerns hit the countrys economy in late February in total, thirteen Seoul-based billionaires dropped off the list. While such metrics are not all encompassing, these measurements of private wealth do help put the financial health and economic activity of some of the worlds wealthiest cities in perspective. Which Countries are Buying Russian Fossil Fuels? In order to recoup losses, in June of 2022, the city of Shanghai released a post-lockdown business recovery plan. Countries that want to attract wealthy individuals will have to apply tax-friendly policies along with other factors such as quality of life, safety, education, and access to amenities that ultra-wealthy residents value. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. (Video) TOP 10 RICHEST CITIES In The World 2021 (Uncover) Which is the richest city in the world 2022? Shipping isnt the only industry which brings revenue into SEZ, its also the sizable industrial parks, high-tech industries and of course, trade. Meanwhile, seven cities in Asia with the common denominator of high-income inequality and low wages dominate the list of the worlds cheapest cities. London has been the worlds wealthiest city for years, but over the past decade there has been an outflow of millionaires. If youre looking, Read More The 20 Cheapest Places to Buy Land in the U.S. 2022Continue. The Chinese capitals tally of ten-figure-fortunes rose by six since last year to reach 67 billionaires. Beijing also has the dubious distinction of being the knock-off capital of the world. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). Use Ask Statista Research Service. Atherton, CA (income: $525,324/ bailout: $3.8 million) - With a median home price of. - Full Size", "Global Wealth PPP Distribution: Who Are The Leaders Of The Global Economy? 9 last year. By examining a cities GDP, we can get a good idea of its industries and how they contribute to the overall economic growth. The decade-long conflict in Syria weakened the Syrian pound, led to a spiraling inflation and fuel shortages, and further collapsed its economy. The cannabis business is rather recent, but also encourages financial growth for the city. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. This international city has over 192,000 resident millionaires with 34 billionaires. As a major commercial hub for England, a number of established companies are found in London, such as Unilever, Barclays, BP, and Shell. In fact, the average annualy income in these neighborhoods is typically over 100,000. Regarded as China's financial hub, this bustling city is home to the Shanghai Stock Exchange, one of the largest stock exchanges in the world. Being China's largest city, Shanghai also houses on of the world's largest ports, due to its proximity to the Yangtze River Delta. It takes decades of consistency for these factors turn a place around in terms of success and richness; a city can not accumulate wealth overnight, and if it does, this wealth will most likely not stick around for long. 4. The 373-page COA report covered all 81 provinces, 145 out of 146 cities, and 1,447 out of 1,488 municipalities that submitted their 2020 financial statements. The city of rich historical, cultural, political and social significance, New Delhi, ranks second on this list with a GDP of $293.6 billion. Swift reportedly owns about $40 million worth of property in the area. In 2022, cities with strong oil and gas industries like Riyadh, Sharjah, Dubai, Luanda, Abu Dhabi, Doha, and Lagos grew exceptionally. The Big Apple has historically been a hub for trade and investment, due to a buzzing port and its very well connected location, with rivers and canal systems reaching out to the midwest. Home to thousands of millionaires, wealthy Parisian neighborhoods include the 7th Arrondissement, the Boulogne-Billancourt, Saint-Cloud, and Neuilly-sur-Seine. The number of millionaires has been growing steadily over the last 10 years, and if the trends of recent years hold, San Francisco could become the number one millionaire hub by 2040. San Francisco also has the highest median household income in the country. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million. The billionaire's rank, nationality, and source of his or her wealth is listed. China is crucial to the worlds supply chain, and Shenzhens container port is one of the largest. A huge part of this development was the influx of multi-national corporations. Due to heavy investment into research and development, high-tech companies in Shenzen have consistent government support. Additionally, factors such as taxes, transportation costs, and availability of goods and services can also contribute to the overall cost of living in global cities. London is ranked second with $2.7 billion in private wealth. Once a leader in the manufacturing industry, that industry has been bowing to more modern industries like high tech, financial services and electronics. 1 with $13.9 billion. Visualizing the Global Share of U.S. Stock Markets. Reportedly, Moscovites earn a higher salary compared to national average, with many much of their income tied to renting real estate property and entrepreneurial ventures. After their divorce, MacKenzie received a 4% stake in Amazon, which was worth about $35 billion at the time. Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. Accessed March 04, 2023. https://www.statista.com/statistics/299494/billionaires-top-cities/, Hurun Research Institute. Tokyo, Japan- GDP: $1,520 billion. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. On this list, New York City was ranked as the richest city with a total of $3 trillion in private wealth. Singapores richest resident. In fact, Seoul is known as the most wired city in the world due to the high concentration of high-tech industries. Makati City: $4.48 billion. Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. Cebu City: $660 million. The city by the bay has five fewer billionaires than a year ago in part because fortunes fell below $1 billion for former Uber CEO Ryan Graves and Pinterest cofounder Ben Silbermann. Finally, London hosts some of the most prominent Fortune Global 500 companies such as Lloyds Banking Group, Prudential, J Sainsbury, BP, Tesco and Vodafone Group, among others. To use individual functions (e.g., mark statistics as favourites, set