The cities where the super-rich live

Richard Florida has the rankings of where the super-rich around the world live:

London is the world’s top location for the super-rich, with 4,364 people with $30 million or more in assets. Tokyo is second with 3,575, followed by Singapore (3,227), New York (3,008) and Hong Kong (2,690). The table below shows the top 20 cities with the most ultra-high-net-worth individuals.

Rank

City

Number of Super-Rich

Percentage of Total

Global Super-Rich

1

London

4,364

2.5%

2

Tokyo

3,575

2.1%

3

Singapore

3,227

1.9%

4

New York

3,008

1.7%

5

Hong Kong

2,690

1.6%

6

Frankfurt

1,909

1.1%

7

Paris

1,521

0.9%

8

Osaka

1,471

0.9%

9

Beijing

1,408

0.8%

10

Zurich

1,362

0.8%

11

Seoul

1,356

0.8%

12

Sao Paulo

1,344

0.8%

13

Taipei

1,317

0.8%

14

Toronto

1,216

0.7%

15

Geneva

1,198

0.7%

16

Istanbul

1,153

0.7%

17

Munich

1,138

0.7%

18

Mexico City

1,116

0.6%

19

Shanghai

1,095

0.6%

20

Los Angeles

969

0.6%

And if you control for population size, the list changes:

Rank

City

Super-Rich per

100k Population

1

Geneva

143.7

2

Zurich

70.8

3

Singapore

60.0

4

Frankfurt

42.9

5

Hong Kong

37.0

6

Auckland

35.7

7

Oslo

34.4

8

London

29.9

9

Munich

29.1

10

Hamburg

26.6

11

Rome

22.3

12

Dublin

21.0

13

Toronto

20.1

14

Edinburgh

20.0

15

Stockholm

18.9

16

Taipei

18.6

17

Sydney

15.9

18

Monaco

15.8

19

New York

15.0

20

Tel Aviv-Yafo

14.3

These lists have some overlap with the top global cities but there are some differences. For example, on the first list: Chicago and Los Angeles are typically in the top 10 for global cities but they don’t rate highly here. In other words, there are some different social forces at work as to where the rich live versus which cities are most influential. Some possible forces at work:

1. Perhaps the super-rich in a single country tend to all go to one place. In the United States, perhaps this is New York City which is heads and shoulders above anyone else. Super-rich people want to be where all the other super-rich people are.

2. Certain industries might be important here, particularly ones like global banks or the oil industry.

3. Certain cities have amenities that appeal to the super-rich. This could range from certain cultural opportunities or tax breaks or high-status (and expensive) properties.

The per capita list has even more differences. Auckland? Hamburg? Edinburgh? I’m guessing there are some interesting stories behind these conglomerations.

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