Social Cities with the most millionaires (USD 1m+)

codfather

codfather

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Top 20, by 7.3k.png

Source: Henley & Partners


Most cities in the top 50:
USA - 11 - New York City, The Bay Area, Los Angeles, Chicago, Houston, Dallas, Seattle, Boston, Miami, Austin, Washington DC
China - 5 - Beijing, Shanghai, Shenzhen, Hangzhou, Guangzhou
Australia - 4 - Sydney, Melbourne, Perth, Brisbane
Germany - 3 - Frankfurt, Munich, Berlin


The biggest surprises for me? I assumed...
  • Riyadh had enough royal allies to crack the top 50.
  • Saint Petersburg had enough ex-party allies to crack the top 50.
  • There were too many options for rich Chinese to choose over Hangzhou and Guangzhou for them to crack the top 50.
  • The size and climate of Barcelona would get it into the top 50.
  • The general level of wealth in Copenhagen would it into the top 50; I guess it's too small.
  • Smaller cities like Perth, Nice and Auckland wouldn't have the population to crack the top 50.

I also assumed they'd be more cities with nice climates in the top 25, it's only:
  1. The Bay Area
  2. LA
  3. Sydney
  4. Melbourne
  5. Rome
 
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no surprise there. the bay area is fucking expensive and full of cash, trust me.
 
I think it s wrong on Germany. Francfort and Munich OK, but no way Berlin has more millionaires than Hamburg.
 
Is millionaire even that impressive anymore? Assuming that's net worth and not bank balance, those top 4 US cities would get you near that just being old enough to have a paid off fairly modest house. The centi-millionaires is where you get into super rich people.
 
nostradumbass said:
Is millionaire even that impressive anymore? Assuming that's net worth and not bank balance, those top 4 US cities would get you near that just being old enough to have a paid off fairly modest house. The centi-millionaires is where you get into super rich people.
Click to expand...
Being a millionaire isn’t impressive at all. Most boomers who own their homes in big cities are millionaires. Just like 100k isn’t a life changing salary, being a millionaire isn’t special either.

I built a home for about 350k doing a lot of the work myself. I sold it in 5 years if ownership for over 1m. Inflation is crazy and our perceptions haven’t caught up yet.
 
In Canada these days if you have a house anywhere near a major city, congratulations you're a millionaire.
 
nostradumbass said:
Is millionaire even that impressive anymore? Assuming that's net worth and not bank balance, those top 4 US cities would get you near that just being old enough to have a paid off fairly modest house. The centi-millionaires is where you get into super rich people.
Click to expand...

Takes_Two_To_Tango said:
I'm more interested with the amount of billionaires in each city.
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From the same source...

Top 10 cities with the most centi-millionaires (USD 100m+)
  1. New York City - 744
  2. The Bay Area - 675
  3. Los Angeles - 496
  4. London - 370
  5. Beijing - 347
  6. Singapore - 336
  7. Shanghai - 322
  8. Hong Kong - 320
  9. Chicago - 290
  10. Paris & Île-de-France - 286

Top 10 cities with the most billionaires (USD 1bn+)
  1. The Bay Area - 68
  2. New York City - 60
  3. Los Angeles - 43
  4. Beijing - 42
  5. Shanghai - 39
  6. London - 35
  7. Hong Kong - 35
  8. Singapore - 30
  9. Mumbai - 29
  10. Chicago - 24
 
The Bay Area is pretty vague, there's no official lists of cities in the Bay Area, and there's so many people and different ways of life. You could be a millionaire wine maker in Sausalito or a millionaire rancher in Gilroy and still be considered a part of the Bay Area.
 
mb23100 said:
Imagine having money and choosing to live in Chicago
Click to expand...

I was gonna say something about Chicago being less at risk to natural disasters than pretty much all the other rich American cities, but I looked it up and Cook County is literally in the 99.62 percentile of highest risk in America, though the scale counts the total number of people affected, so more highly-populated counties score worse.


US cities with the most millionaires - ordered from least disaster-prone to most:
  1. District of Columbia - 91.57
  2. Suffolk County - 92.71
  3. New York County - 96.18
  4. Travis County - 96.88
  5. San Francisco County - 98.92
  6. Dallas County - 99.14
  7. Cook County - 99.62
  8. King County - 99.65
  9. Miami-Dade County - 99.81
  10. Harris County - 99.97
  11. Los Angeles County - 100
 
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codfather said:
I was gonna say something about Chicago being less at risk to natural disasters than pretty much all the other rich American cities, but I looked it up and Cook County is literally in the 99.62 percentile of highest risk in America.


Least disaster-prone to most:
  1. District of Columbia - 91.57
  2. Suffolk County - 92.71
  3. New York County - 96.18
  4. Travis County - 96.88
  5. San Francisco County - 98.92
  6. Dallas County - 99.14
  7. Cook County - 99.62
  8. King County - 99.65
  9. Miami-Dade County - 99.81
  10. Harris County - 99.97
  11. Los Angeles County - 100
Click to expand...

From what? Oh it’s cold weather/ wind related for the most part.
 
I agree with what @Thai Domi said. Millionaires aren't impressive anymore, maybe above 50m.

According to your source, there are 244k millionaires in Singapore. We have population of around 5.7m people. That's like 1 millionaire out of 23 people.

But according to other stats I've seen recently, 1 in 7 people is a millionaire. I'm assuming this stats arrived by counting net-worth instead of cash flow. The only reason for that is that our houses inflation is crazy. A 1000 sqft house on average was 450k in late 2010s, it's probably closer to 650k now. In the recent months, we keep seeing news reporting houses sold for 1m ~ 1.4m. So if you own a house here, which is 89% of us, you are half way there.

For people thinking our house is "cheap", do understand that our government housing is a 99year lease. Not freehold.
 
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