This is just to remind you how many rich New Yorkers there really are
New York City home to 70 billionaires, the most in the world: report
Mayor Bloomberg is among the uber-rich who call the city home. The study, conducted by WealthInsight, found Tokyo had the most millionaires while London was home to the most multi-millionaires, defined as those with a net worth of $30 million or more.
By Ginger Adams Otis / NEW YORK DAILY NEWS
Thursday, May 9, 2013, 7:59 PM
GARY HERSHORN/REUTERS
A Wealthinsight report found that New York has the most billionaires living in the city.
Related Stories
- Japanese joggers running wild near Imperial Palace, prompting politeness warning
- Tokyo apartment building caters to wine lovers
- Japan shuts down only operating nuclear reactor for maintenance as Fukushima crisis worsens
- Japanese commuters join forces to tilt 32-ton train off woman trapped on tracks
The Big Apple is ripe with billionaires.
More of the uber-rich live in New York City than anywhere else, according to a wealth-tracking report released Thursday.
Tokyo and London took top honors for millionaires and multi-millionaires — defined as a net worth of $30 million or more — but they’re just pikers among the Masters of the Universe who populate New York.
RELATED: WARREN BUFFETT BOOK TEACHES KIDS ABCS
The city has 70 billionaires — including the mayor.
Moscow and London are second with 64 and 54, respectively — but most of the Top 10 are thriving newcomers to the tech and innovation markets.
Hong Kong, Beijing, Mumbai, Istanbul and Shanghai all trumped old money
in Paris, which came in ninth spot with 22 billionaires, and
Hollywood-driven Los Angeles, which had 19.
RELATED: BILLIONAIRES, NEWSPAPERS AND FREE SPEECH
“I’m not surprised to see Paris dropping down. The French lost a lot by not allowing the entrepreneurial game to flourish,” said Jim Taylor, vice president of Harrison Group, a market strategy company that services the luxury industry. “The U.S. and England opened things up in 1995 and fortunes have been made since, primarily in tech innovations and communications and Russia’s economic overhaul opened up amazing opportunities.”
The results of the WealthInsight study don’t give a complete snapshot of global wealth because in many countries — particularly Germany and Switzerland — such information is hard to come by, Taylor said.
But according to the company’s projections, China is expected to become the second wealthiest country in the world by 2020, overtaking Japan and Germany. India should jump from 11th place in 2012 to fifth place in 2020, driven by a large population experiencing a rapid increase in upward mobility.
RELATED: BRITISH MILLIONAIRE GETS JAIL TIME FOR SELLING FAKE BOMBS
Overall though, the U.S. still leads in national wealth with slightly
more than five million millionaires — and we’ll retain that spot in
2020, growing to seven million, according to WealthInsight’s
projections.
Tokyo beat out New York City as the millionaire capital for the same reason London did for multi-millionaires: too many high-net-worth individuals choose to work in the city but live in surrounding states like New Jersey and Connecticut.
Greenwich, Conn., has more than 350 multi-millionaires on its own, the study said.
RELATED: $2 TICKET, MILLION-DOLLAR LOTTO PAYOUT FOR S.I. GRANDMA
Moscow, Mumbai and Istanbul are significantly higher on the billionaire list than they are on the millionaire rankings — suggesting a sudden influx of extreme wealth for those who’ve hit it big with inventions and technocal innovations.
Regardless of the reach of the new global elite, New York City remains a favorite draw, said Taylor.
“Aside from all the amazing cultural and artistic offerings, you have a concentration of business and finance people here that makes it extremely easy to get things done,” he said. “Just look at how strong the luxury real estate market is, despite rocketing prices. This is a place people really want to be.”
gotis@nydailynews.com
More of the uber-rich live in New York City than anywhere else, according to a wealth-tracking report released Thursday.
Tokyo and London took top honors for millionaires and multi-millionaires — defined as a net worth of $30 million or more — but they’re just pikers among the Masters of the Universe who populate New York.
RELATED: WARREN BUFFETT BOOK TEACHES KIDS ABCS
The city has 70 billionaires — including the mayor.
Moscow and London are second with 64 and 54, respectively — but most of the Top 10 are thriving newcomers to the tech and innovation markets.
Jason Alden/Bloomberg
London topped the list of having the most multi-millionaires — those with a net worth of $30 million or more — living within its boundaries.
RELATED: BILLIONAIRES, NEWSPAPERS AND FREE SPEECH
“I’m not surprised to see Paris dropping down. The French lost a lot by not allowing the entrepreneurial game to flourish,” said Jim Taylor, vice president of Harrison Group, a market strategy company that services the luxury industry. “The U.S. and England opened things up in 1995 and fortunes have been made since, primarily in tech innovations and communications and Russia’s economic overhaul opened up amazing opportunities.”
The results of the WealthInsight study don’t give a complete snapshot of global wealth because in many countries — particularly Germany and Switzerland — such information is hard to come by, Taylor said.
But according to the company’s projections, China is expected to become the second wealthiest country in the world by 2020, overtaking Japan and Germany. India should jump from 11th place in 2012 to fifth place in 2020, driven by a large population experiencing a rapid increase in upward mobility.
RELATED: BRITISH MILLIONAIRE GETS JAIL TIME FOR SELLING FAKE BOMBS
KAZUHIRO NOGI/AFP/Getty Images
The most millionaires lived in Tokyo according to the Wealthinsight report, likely topping this list because most millionaires in the New York area reside in neighboring states.
Tokyo beat out New York City as the millionaire capital for the same reason London did for multi-millionaires: too many high-net-worth individuals choose to work in the city but live in surrounding states like New Jersey and Connecticut.
Greenwich, Conn., has more than 350 multi-millionaires on its own, the study said.
RELATED: $2 TICKET, MILLION-DOLLAR LOTTO PAYOUT FOR S.I. GRANDMA
Moscow, Mumbai and Istanbul are significantly higher on the billionaire list than they are on the millionaire rankings — suggesting a sudden influx of extreme wealth for those who’ve hit it big with inventions and technocal innovations.
Regardless of the reach of the new global elite, New York City remains a favorite draw, said Taylor.
“Aside from all the amazing cultural and artistic offerings, you have a concentration of business and finance people here that makes it extremely easy to get things done,” he said. “Just look at how strong the luxury real estate market is, despite rocketing prices. This is a place people really want to be.”
gotis@nydailynews.com
No comments:
Post a Comment
Please leave a comment-- or suggestions, particularly of topics and places you'd like to see covered