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Which global cities contain the most millionaires?

India Infoline News Service/ Mumbai 18:40 , May 09, 2013

WealthInsight has released a list of top 20 cities for multi-millionaires. London tops this list followed by Tokyo and then Singapore. New York City is surprisingly low on the list. This is partly due to the fact that many wealthy New Yorkers live off the Island in cities such as Greenwich which has over 350 multi-millionaires on its own.

Top 20 cities for the world’s millionaires: Tokyo on top

Tokyo tops the millionaire list with 461,000 millionaires at the end of 2012, followed by New York City with 389,000 millionaires. London, Paris and Frankfurt round out the top five.

Cities ranked by millionaires, 2012
Rank City Number of millionaires (000s)
1
Tokyo
461
2
New York City
389
3
London
281
4
Paris
219
5
Frankfurt
217
6
Beijing
213
7
Osaka
190
8
Hong Kong
187
9
Shanghai
166
10
Singapore
157
11
Seoul
131
12
Munich
130
13
Rome
127
14
Los Angeles
126
15
Toronto
118
16
Chicago
107
17
Sydney
104
18
Houston
103
19
Mexico City
102
20
Moscow
101
Source: WealthInsight © WealthInsight


Top 20 cities for the world’s ultra wealthy: London on top


WealthInsight has also released a list of the top 20 cities for multi-millionaires (individuals with over US$30 million each). This is reflected below.


London tops this list followed by Tokyo and then Singapore. New York City is surprisingly low on the list. This is partly due to the fact that many wealthy New Yorkers live off the Island in cities such as Greenwich which has over 350 multi-millionaires on its own.


Cities ranked by multi-millionaires, 2012
Rank City Number of multi-millionaires
1
London
4,224
2
Tokyo
3,525
3
Singapore
3,154
4
New York City
2,929
5
Hong Kong
2,560
6
Frankfurt
1,868
7
Mexico City
1,850
8
Paris
1,500
9
Osaka
1,450
10
Beijing
1,318
11
Zurich
1,314
12
Sao Paulo
1,310
13
Seoul
1,302
14
Taipei
1,255
15
Toronto
1,184
16
Geneva
1,156
17
Munich
1,113
18
Shanghai
1,028
19
Los Angeles
950
20
Rome
945
Source: WealthInsight © WealthInsight


Top 20 cities for the world’s billionaires: New York on top


Moscow, Mumbai and Istanbul are significantly higher on the WealthInsight billionaire list than they are on the millionaire rankings.


Cities ranked by billionaires, 2012
Rank City Number of billionaires
1
New York City
70
2
Moscow
64
3
London
54
4
Hong Kong
40
5
Beijing
29
6
Mumbai
26
7
Istanbul
24
8
Shanghai
23
9
Paris
22
10
Los Angeles
19
11
Shenzhen
19
12
Chicago
15
13
Singapore
13
14
Tokyo
12
15
Guangzhou
12
16
San Francisco
11
17
Dallas
11
18
Dubai
11
19
Houston
10
20
Sao Paulo
10
Source: WealthInsight © WealthInsight


Top 10 countries for millionaires in 2012 and 2020


The following table ranks the top 10 countries for millionaires globally in 2012. The US comes out on top followed by Japan and then Germany.


Countries ranked by millionaires, 2012
Rank Country Number of millionaires (000s)
1
US
5,231
2
Japan
2,105
3
Germany
1,326
4
China
1,280
5
UK
675
6
France
555
7
Canada
422
8
Switzerland
298
9
Australia
275
10
Italy
259
Source: WealthInsight © WealthInsight


According to WealthInsight projections, China is expected to overtake Japan and Germany to become the 2nd largest wealth market in the world by 2020. India jumps from 11th place in 2012 to 5th place in 2020.


Countries ranked by millionaires, 2020
Rank Country Number of millionaires
1
US
7,318
2
China
3,327
3
Japan
2,202
4
Germany
1,746
5
India
1,002
6
UK
920
7
France
676
8
Canada
611
9
Australia
415
10
Switzerland
396
Source: WealthInsight © WealthInsight

 

 



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