. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). Much like Shanghai, Beijing enjoys a reputation as one of the Asia's (and the world's) wealthiest cities. Additionally, the world's major companies are headquartered in Seoul, which include Samsung, Hyundai, LG, and Kookmin Bank. Palo Alto - $147,537 London is ranked second with $2.7 billion in private wealth. Lastly, London is home to several of the most well-known Fortune Global 500 firms, including the Lloyds Banking Group, Prudential, J. Sainsbury, BP, Tesco, and Vodafone Group, amongst others. Mumbai - City Of Dreams. Compared to many other states, Kentucky has low, Read More The 20 Safest Places to Live in KentuckyContinue, The price of land jumped dramatically from 2020 to the present. Most such agglomerations are economically, socially and culturally dominated by one city at their centre. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. Once a leader in the manufacturing industry, that industry has been bowing to more modern industries like high tech, financial services and electronics. Newcomers from other sectors also joined the ranks, including AI pioneer Daniel Dines and Brooklyn native Jay-Z. The largest economy in states, New York Citys prosperity is rooted in Wall Street. This included plans of action to assist with rent, taxes, business subsidies and more. Trip Ideas; The Southeast Asian city-state gained nine new billionaires since 2019, while the South Korean capital recorded a net loss of ten members of the three-comma-club. Its wealthiest resident, Ma Huateng, chairman and CEO of Internet media behemoth Tencent Holdings, is the second-richest person in China, after Alibaba cofounder Jack Ma. Fortune 500 companies located in the Rhine-Ruhr metropolitan area include: ThyssenKrupp AG, RWE AG, Bayer AG, Evonik Industries, among others. Taguig City: $480 million. This may not be surprising, considering the U.S. is the world's largest wealth marketit holds over 29% of the world's wealth. These four cities are home to 228 billionaires. 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. Beijing also has a sizeable billionaire population of 100 people, compared to any other international city. 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. Foreign corporations such as IBM, Nestle, Hewlett-Packard and more flooded Beijing, causing a rapid economic expansion. In some U.S. cities, however, more than half of all households earn $70,000-plus. Moreover, dozens of Russia's most prominent companies are also headquartered in Moscow that contribute to the city's wealth, which includeRosneft, Sberbank, Russian Railways, and Lukoil. 1. Hurun Research Institute. Richest Cities in the World. However, invading a sovereign nation had its consequences, and Russias entire economy is in a state of disrepair. Standing as one of Russia's largest industrial and financial centre, much of the country's wealth is still tied to this capital city. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. Chinese energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five. New York City (NYC), which lost the number one slot to Beijing in 2021, has added eight new billionaires with a total net worth of $640.4 Billion. 10. As a SEZ, businesses in the area receive special treatment in the form of tax benefits, which helps increase the GDP bottom line immensely. From Singapore To New York City, more than 26% of the worlds 2,095 billionaires live in just 10 cities on three continents. Swift reportedly owns about $40 million worth of property in the area. It had about 2,000 inhabitants at the time. Air Cargo News Awards 2020. dnata wins again. In fact, the average annualy income in these neighborhoods is typically over 100,000. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. Currently, you are using a shared account. Which cities and regions have the biggest concentrations of millionaires around the world, each with a net worth greater than $1 million (USD)? Cairo Cairo Pyramids Hotel - Cairo, Egypt (photo: Marriott) ADVERTISEMENT Located along the Nile River, Cairo is one of the. 2. Despite its picture of wealth, only a small percentage of Seoul's population claim to be wealthy. These are of very low quality and should be avoided. Finally, Oceania has two cities on the list, both located in Australia. You can only download this statistic as a Premium user. Kolkata is house of many Indian corporations like Coal India Limited, ITC Limited, Britannia Industries, Allahabad Bank,. In 2019, San Francisco's tourism industry resulted in 86,111 jobs. 1. According to the Greater Houston Project, As retailers work to rebuild their inventories, as factories struggle to resolve supply chain issues, as the global economy continues to grow, so will the demand for Houstons exports, and so will Houston employment,. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. Furthermore, being a world-class city, Seoul's cost of living is high compared to other cities in Asia, especially in regards to its real estate prices. Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. The top ten richest cities in the world based on private wealth include: 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. Tokyo is the most fascinating city to live in but also the most densely packed. In total, these 30 people control. Other Shanghai entrepreneurs are newcomers to the list, including, , who draws his wealth from express delivery firm ZTO Express, and, , whose anime and entertainment site Bilibili, an uptick in demand after it gave residents of locked down areas. He is worth $1 billion, becoming the richest actor in the world. Caloocan City: $360 million. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. 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. U.S. Inflation: How Much Have Prices Increased? Penthouses in the 30 Park Place complex are currently listed for 10 times as much. Top 10 Poorest Countries In The World 1. It is through the electric car maker Tesla and in space by rocket produced by SpaceX. The infographic above uses data from EIU to rank the world most and least expensive cities to live in. 24/7 Wall Street reviewed income levels in 382 metropolitan . 3. For example, Moscow's rich neighborhoods like Rublyovka contain private houses that can cost up to $60 to $80 million! Washington, District of Columbia: $578.985 Billion, 4. Hong Kong remains No. Business Solutions including all features. This infographic uses information from the Henley Global Citizens Report, in partnership with New World Wealth, to rank the worlds wealthiest cities. When determining the GDP, the UN classifies 3 methods to determine it: City proper, urban area and metropolitan regions.. Our numbers for the richest cities in the world are based on the metropolitan statistical region. 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. Does your team make it in the top fifty richest soccer clubs in 2022? L.A. is also abuzz with development projects, such as refurbishing businesses like Manns Chinese Theater, as well as infrastructure projects. London City | Photo: Reuters 7. Five are new billionaires from the finance industry, including private equity wizards, . 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 . UAE in Top 20. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. Shibuya Crossing, one of the busiest crosswalks in the world, in Tokyo, Japan Tokyo's wealth is also tied to the Tokyo Stock Exchange (TYO), regarded as one of the largest stock exchanges in the world. Its no surprise to anyone that a good chunk of the Paris economy is the tourist trade. This is because they are supposed to get a better idea, Read More When is it OK to Buy a House Site Unseen as an Investor?Continue, You might be thinking of relocating to New Hampshire for work or other reasons. In fact, London is one of the chief financial centers of the world. San Ramon ranks among the top ten safest cities in California. While Shenzhens export-led manufacturers have struggled from the effects of the trade war with the U.S., the citys billionaires added $29.7 billion to their collective net worth since 2019. As a Premium user you get access to background information and details about the release of this statistic. South Koreas Wall Street is the Korea Exchange in Yeoui Island. Blessed with an affordable cost of living, two stunning shorelines, vibrant cities, and swathes of glorious scenery, its understandable, Read More The 10 Best Places to Live in Mexico for AmericansContinue, If you live in Kentucky already, then youll already be well aware that when it comes to crime, the Bluegrass State is doing pretty well for itself. Washington, D.C.. Standing as Russia's capital for centuries, the country's national wealth has been building in Moscow since the 1990s after the fall of the Soviet Union. Organisation for Economic Co-operation and Development, List of most expensive cities for expatriate employees, List of country subdivisions by GDP over 200 billion US dollars, "Gross Domestic Product: Implicit Price Deflator", "Standard country or area codes for statistical use (M49): Geographic Regions", "Global Wealth GDP Nominal Distribution: Who Are The Leaders Of The Global Economy? However, its also a city steeped in industry. Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. 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. After all, its Philadelphias rich history that fuels the tourist trade that brings over 2 million visitors from both the U.S. and foreign countries every year. While the cost of living in some of the cities in these nations is low, it comes at the price of a weak currency, poor economy, and, in many cases, political and economic turmoil. Tokyo may not be as wealthy as New York, but this megacity remains one of the richest cities in Asia. Moscow. from people staying indoors and spending more time online. New York City, USA: $1,330.000 Billion. Their net worth is based on the data from 2022 available on their respective Forbes profiles. This list is incomplete, as not all companies disclose their information to the general public. India is the second largest country in the world after China. In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. , who is also the richest person in the nation. . The place is mostly known for its stunning Renaissance architecture and is . [3] List [ edit] Geneva, Switzerland - 17.92% Millionaires. Its no surprise that its capital city of Damascus has maintained its position as the worlds cheapest city. The Football Lovers Menu News Premier League Manchester City Manchester United Liverpool Chelsea Arsenal Leicester City Tottenham Hotspur West Ham United Everton Transfers Top 10 Quizzes , a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. The Top 15 Cities in Asia in 2020. This statistic is not included in your account. 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. Cities become expensive due to a variety of factors such as high demand for housing, a concentration of high-paying businesses and industries, and a high standard of living. The international city of romance boasts an economically wealthy status. The top 10. These are the 10 wealthiest cities in the world - and the number of wealthy individuals who live in each of them - according to Henley & Partners' report. Current Health Expenditure per Capita. In the past, manufacturing was seen as a booming sector in Shanghai, but lately its slowed and is being replaced by financial services, trade, information tech, real estate and commerce, among others. Available: https://www.statista.com/statistics/299494/billionaires-top-cities/, Leading cities with the most billionaires in 2022, Available to download in PNG, PDF, XLS format, Global billionaire population by region 20121, Growth of billionaire wealth globally 2020, by industry, Age distribution of billionaires globally 2021, Value added to the wealth of the world's leading billionaires during pandemic 2021, Number of billionaires worldwide by wealth source 2021, Wealth distribution of billionaires around the world 2021, Total wealth distribution of billionaires around the world 2021, Share of the global wealth held by the richest percent 2010-2021, Distribution of billionaires worldwide 2021, by gender, Youngest billionaires globally 2022, by net worth, Richest self-made women in the United States 2022, based on net worth, Distribution of billionaires in the U.S. by gender 2022, Source of billionaire's wealth worldwide in 2020, by gender, Number of ultra high net worth individuals 2021, by region, Ultra high net worth individuals 2021, by country, Share of the world's billionaires by region 2021, Number of billionaires in Europe in 2021, by country, Wealth of billionaires around the world by region 2021, Primary industries of billionaires worldwide 2021, Breakdown of the average billionaire's wealth worldwide 2021, by assets, Most affluent people in the tech industry worldwide 2022, by net worth, Countries with the biggest emigration of millionaires 2020, Average net worth of billionaires worldwide, 2013, Top 10 countries by average wealth of billionaires 2013, Top 10 countries by the number of billionaires per capita 2013, African cities with the most billionaires, as of 2014, Educational attainment of billionaires worldwide, 2013, Number of billionaires in Africa 2013, by country, Gender distribution of billionaires worldwide, 2013, Top 10 countries by percentage of female billionaires 2014, Average number of children of billionaires worldwide, 2013, Marital status of billionaires worldwide, 2013, Source of billionaire's wealth worldwide, 2013, Average age of billionaires worldwide, 2013, Number of billionaires in select European cities 2014-2018, Top 10 countries by the percentage of female billionaires 2013, Investments of high-net-worth individuals, Find your information in our database containing over 20,000 reports, the most significant industries in the global billionaire production line. Cities in the UAE became millionaire magnets, attracting over 4,000 millionaires in 2022. Shipping isnt the only industry which brings revenue into SEZ, its also the sizable industrial parks, high-tech industries and of course, trade. Atherton, CA (income: $525,324/ bailout: $3.8 million) - With a median home price of. Cebu City: $660 million. New York's richest person and former mayor, Michael Bloomberg, is worth $59 billion. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. The Chinese capitals tally of ten-figure-fortunes rose by six since last year to reach 67 billionaires. Newcomers from other sectors also joined the ranks, including AI pioneer, Hong Kong remains No. ", 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. Please create an employee account to be able to mark statistics as favorites. Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. London: 63 Billionaires Since Last Year: +7 Total Net Worth: $316.1 Billion Richest Resident: Len Blavatnik, $32 Billion Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. 12. Richest Places in the World According to a recent study by Forbes, the five richest cities in the world are Tokyo, New York City, Los Angeles, London, and Paris. Access to this and all other statistics on 80,000 topics from, Show sources information Manila: $790 million. Moreover, much of London's wealth is concentrated in neighborhoods like Westminster, Kensington, Islington, and Chelsea. A massive powerhouse in Seoul is Samsung. The international megacity is the country's bustling financial and commercial hub, with its economic wealth tied to its services in finance, healthcare, professional and business services, retail, and education. Other notable NYC billionaire residents include hip-hop superstar, , the widow of former Koch Industries magnate. In detail, 144 billionaires resided in the capital of China. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. Macao SAR will climb from 17th in 2020 to 9th in 2021. London has been the worlds wealthiest city for years, but over the past decade there has been an outflow of millionaires. New York's richest resident, 476 Washington Avenue, former mayor Michael Bloomberg, has a net worth of $45 billion, making him one . It is home to 304,900 resident millionaires, making it the city with the second most millionaires in the world. 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. Meanwhile, Barcelona dropped to No. Tokyo has 39 million residents which are 50% more than any other urban area of the world. (Video) TOP 10 RICHEST CITIES In The World 2021 (Uncover) Which is the richest city in the world 2022? 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. The City of Chicagos economy is home to a strong financial sector which includes the Chicago Board of Trade, NYSE Arca, Chicago Mercantile Exchange, Chicago Board Options Exchange and the Chicago Stock Exchange. How many millionaires, centimillionaires, and billionaires live in the worlds wealthiest cities? As such when it comes to the richest cities in the world, New York City comes in at number 2. Even though the city was riddled with the effects of the pandemic, Job growth occurred with another 5,700 jobs added. Each of the columns in the table is sortable by pressing on the arrows at the head of the column: Cities (metropolitan areas) by percentage of national GDP. There are many benefits to living in an iconic city like New York or Singapore, but the amenities and exclusivity can come at a high cost. Lets take a closer look at some of the top-ranking cities making the list. 6 and No. It goes without saying that due to its history tourism is a huge draw when it comes to obtaining revenue. The richest cities in the world are determined by their gross domestic product, or GDP. The top 10 riches cities in the world behind New York City were Tokyo, San Francisco Bay Area, London, Singapore, Los Angeles and Malibu, Chicago, Houston, Beijing, and Shanghai. Its known as the mecca of tech innovation, and as a result, the region has a high concentration of wealthy individuals. The Rhine-Ruhr metropolitan area is the economic power house of Germany. The richest city in the world is Tokyo. Delhi city is the second most populated city in the world with a 30,291,000 million population. The Southeast Asian city-state gained nine new billionaires since 2019, while the South Korean capital recorded a net loss of ten members of the three-comma-club. A little known fact is that L.A. is the manufacturing center of the country. Being the largest city of the country, Mumbai is extensively . This site uses Akismet to reduce spam. Till 2030, Tokyo city will project to be the top-most populated city on earth. 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. Additionally, approximately 18% of Japan's universities are found in Tokyo. Otherwise, the city serves as a global financial centre, due to its large abundance of banks, insurance companies, and financial service centres. The city of rich historical, cultural, political and social significance, New Delhi, ranks second on this list with a GDP of $293.6 billion. For the first time, revenues from Global 500 companies in Greater China (including Taiwan). In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. Beijing, China: $591.374 Billion Beijing is the capital of China and has a population of over 20 million. [3] The methodology of calculating GDP may differ between the studies and are widely based on projections and sometimes approximate estimations, notably for cities that are not within the Organisation for Economic Co-operation and Development. 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. Moreover, when it comes to its residents, there are about 9,210 multi-millionaires calling London home, as well as 38 billionaires. 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. Number of individuals with a net worth of $5 million or more: 49,005 Percentage of global population: 1.7% Paris is the capital and most populous city of France, with an estimated population of 2,150,271 residents as of 2020, in an area of 105 square kilometers (41 square miles). I cover the world's richest people and how they made their billions. The county seat of Loudoun is in Leesburg, where most administration activities take place. This northern Chinese city is not only a hub for luxury brands, it headquarters China's largest companies, many of which are considered in the Fortune Global 500. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Kicking off the list is the charming Italian city of Florence - which is kind of surprising. The Chinese capitals tally of ten-figure-fortunes rose by six since last year to reach 67 billionaires. statistic alerts) please log in with your personal account. Source: Forbes Music: Beethoven 5th Symphony Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. Meanwhile, seven cities in Asia with the common denominator of high-income inequality and low wages dominate the list of the worlds cheapest cities. 30 in the index, a. According to a study by Teleport, Osaka scores well when it comes to affordable housing, community safety, business, and healthcare. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. On a related note, there is a sizeable population of secondary homeowners in London. A paid subscription is required for full access. Among the top 50, Aruba will climb five spots. Moreover, there are over 25 FortuneGlobal 500companies headquartered in Paris (which are the top companies in the world based on their revenues) including Danone, Sanofi, Christian Dior, and Finatis. Surprisingly, this is the Big Apples first time atop the ranking. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. 7 and Shanghai and Beijing staying flat at No. Despite suffering a tough downturn due to the pandemic, Shanghai remains one of the worlds richest cities. Rankings of Cities and Municipalities are based on the sum of their scores on 4 Pillars: Economic Dynamism, Government Efficiency, Infrastructure, Resiliency, and Innovation.Provincial rankings are based on population and income weighted average of the Overall scores of cities and municipalities under a province. In fact, according to this chart, you can see that manufacturing takes the lead with 16.6 percent followed by retail at 16.6 percent and real estate at 11.4 percent. Here are the 10 cities in the world with the most billionaires: New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019.