Culture

New Study Estimates 1 in Every 22 New Yorkers is a Millionaire

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A new study this week calculated the percentages of millionaires in city populations around the world. By net worth alone, excluding their primary residence, the study found that 4.63% of New Yorkers, or around 389,100 people, are millionaires- and New York is only number four on the list.

According to Oliver Williams, an analyst at WealthInsight:

“New York has long been the bastion of wealth not only in America, but the world… It has the second largest millionaire and largest billionaire population of any global city.”

Monaco takes first place, where almost three in every ten people are millionaires; Zurich and Geneva take second and third place as the private banking capitals of the world. Elsewhere in the list for the U.S. is Houston and San Francisco, coming in at 18 and 19, respectively.

Check out the full list below:

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%)

Source: LATimes H/T: Elite Daily

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