Ten cities account for 18.9% of the world’s ultra-wealthy population, according to Wealth-X’s 2019 World Ultra Wealth Report.
The report defines the world’s ultra-wealthy population as those with $30 million or more in net worth.
The US has six cities on the list.
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Where are the world’s richest people living?
You can find 18.9% of the global ultra-wealthy population across 10 cities, according to Wealth-X’s 2019 World Ultra Wealth Report. The report analyzed data from Wealth-X’s global database of more than one million records of the world’s richest people.
It defines the world’s ultra-wealthy population as those with $30 million or more in net worth.
Read more: The top 10 countries with the most ultra-wealthy people, ranked
The number of ultra-wealthy among the top ultra-high-net-worth cities dropped by nearly 90 individuals thanks to a steep decline in Hong Kong — but the remaining nine cities averaged a 2.6% growth rate.
Six of the top cities on the list are in the US, two are in Europe, and two are in Asia.
Here are the cities worldwide which have the biggest ultra-wealthy populations, ranked in ascending order. Note that Hong Kong was included on both Wealth-X’s top cities and top countries lists, as it’s a semi-autonomous, special administrative region of China.
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10. Dallas, Texas, is the sixth wealthiest US city.
Number of ultra-high-net-worth individuals: 2,705 (up 2.9%)
According to U.S. News & World Report, Texas’ billionaire population is third only to superrich hubs New York and California, reported Marissa Perino for Business Insider. Dallas is home to several known billionaires, including Gerald Ford, Jerry Jones, and Andrew Beal.
9. Wealth in Washington, DC, has reached new heights.
Number of ultra-high-net-worth individuals: 2,785 (up 1.8%)
In recent years, wealth in Washington, DC, has spawned a “new class of superrich,” reported Robert Frank for The New York Times.
“The combination of the richest White House in history and a boom in government-related businesses and technology companies is transforming Washington’s affluence into opulence,” he wrote.
8. San Francisco, California, could be home to thousands of new millionaires by the end of 2019.
Number of ultra-high-net-worth individuals: 2,925 (up 3.7%)
A number of tech start-ups hoping to go public by the end of the year could create an influx of newly-minted millionaires in the Bay Area, reported Nellie Bowles for The New York Times.
San Francisco is one of the wealthiest and most expensive cities in America — so much so that residents think it takes an average of $4 million to be wealthy, Suzanne Woolley of Bloomberg reported, citing Charles Schwab’s 2019 Modern Wealth Survey.
7. Chicago, Illinois, saw a nearly 3% increase in its ultra-wealthy population.
Number of ultra-high-net-worth individuals: 3,350 (up 2.9%)
Chicago is home to some of the US’s wealthiest suburbs, including the wealthiest suburb in …read more
Source:: Business Insider