One in 25 New Yorkers a millionaire - study

Last updated 10:44 23/07/2014

Relevant offers


The Islamic State economy: Where the poor starve and the tax man carries a whip Wall St jumps as investors eye rate hike delay, oil up No increased medicine costs under TPPA BP to pay US$20 billion in fines for Gulf of Mexico spill World's 'extremely poor' to fall below 10 percent of global population Lessons from a female business leader in Iran Cereal Killer Cafe: 'We are not the cause of poverty in East London' Wall St execs should have gone to jail for crisis - Ben Bernanke Volkswagen to hold extraordinary board meeting - sources Investors brace for stocks to fall again ahead of earnings

Walk down the street in New York and you're virtually guaranteed to see several millionaires.

That's because more than 1 in every 25 New Yorkers is a millionaire, according to a study released Tuesday.

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 US$1 million (NZ$1.14m).

Altogether, 4.63 per cent 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.

Houston at No. 18 and San Francisco at No. 19 were the only other US cities to make the list. In each city, a bit more than 2 per cent of residents are millionaires.

Not surprisingly, most of the highest-ranked cities are banking and financial centers, including Frankfurt (No. 5) and London (No. 6).


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%)

Ad Feedback


Special offers

Featured Promotions

Sponsored Content