New York “has the second largest millionaire and largest billionaire population of any global city,” according to analysis by Spear’s magazine, but as LA Times reports, walk down the streets of The Big Apple and 1 in every 25 New Yorkers you bump into is a millionaire. But if you really want to rub shoulders with the rich… almost 1 in 3 Monaco residents are millionaires) and likely billionaires too…
The Big Apple ranks fourth in a listing of the top 20 global cities based on the portion of their populations whose net worth, excluding primary residence, tops $1 million.
Altogether, 4.63% of New Yorkers, or 389,100 people, are millionaires, according to the analysis by Spear’s magazine and consulting firm WealthInsight.
“New York has long been the bastion of wealth not only in America, but the world,” said Oliver Williams, an analyst at WealthInsight. “It has the second largest millionaire and largest billionaire population of any global city.”
Monaco, Zurich and Geneva claimed the first three spots. Nearly 3 in 10 people in Monaco are millionaires.
TOP 20 GLOBAL CITIES BY MILLIONAIRE DENSITY – FULL BREAKDOWN:
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%)
via Zero Hedge http://ift.tt/1p8h8gy Tyler Durden