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New World Wealth, the global wealth intelligence and market research company, based in Johannesburg, South Africa, has released its World Cities report which reveals the wealthiest cities worldwide by total wealth held.


“Total wealth” refers to the private wealth held by all the individuals living in each city. It includes all their assets (property, cash, equities, business interests) less any liabilities. Total wealth held worldwide amounts to US$185 trillion (as of June 2016). Planet Earth is home to approximately 13,300,000 millionaires and 1,940 billionaires in total.

Top 15 cities (as of June 2016):

1. London:

central london 4

Total wealth held in the city amounts to US$2.7 trillion. London is home to 357,000 millionaires and 62 billionaires. Home to the 3rd largest stock exchange in the world. Areas around London such as Windsor, Ascot, Virginia Water, Leatherhead, Weybridge, Henley, Marlow and Bray also contain a large amount of wealth that is not included in this figure.

2. New York City:

new-york-12

Total wealth held in the city amounts to US$2.6 trillion. New York is home to 336,000 millionaires and 65 billionaires. Home to the two largest stock exchanges in the world (Dow Jones and NASDAQ). Areas around New York such as Connecticut and Long Island also contain a large amount of wealth that is not included in this figure.

3. Tokyo:

tokyo-6

Total wealth held in the city amounts to US$2.2 trillion. Home to 272,000 millionaires and 14 billionaires. Tokyo is home to the 4th largest stock exchange in the world. Tokyo, like the rest of Japan, has a low billionaires to millionaire ratio. i.e. it has a lot of millionaires but not too many billionaires.

4. San Francisco Bay area:

san-fransisco

Total wealth held in the area amounts to US$1.9 trillion. Home to 174,000 millionaires and 45 billionaires. Figures include San Francisco, San Jose, Oakland, Palo Alto, Los Altos, Redwood City, Moraga, San Mateo and Mountain View.

5. Beijing:

www.laba.ws

Total wealth held in the city amounts to US$1.8 trillion. Home to 122,000 millionaires and 45 billionaires. Beijing is the official capital city of China and is home to the head offices of some of the largest companies in the world.

6. Shanghai:

shanghai 2

Total wealth held in the city amounts to US$1.6 trillion. Home to 118,000 millionaires and 32 billionaires. Shanghai is considered to be the “Financial Capital of China” and is home to the Shanghai stock exchange, the largest stock exchange in China and the 5th largest in the world.

7. Los Angeles:

LOS ANGELES 2

Total wealth held in the city amounts to US$1.2 trillion. Home to 168,000 millionaires and 28 billionaires. Our figures for Los Angeles include wealth held in Malibu and Beverley Hills.

8. Hong Kong:

Hong Kong at evening
Hong Kong at evening

Total wealth held in the city-state amounts to US$1.1 trillion. Home to 224,000 millionaires and 50 billionaires. Hong Kong is considered to be the gateway between Europe and Asia and it is home to the 6th largest stock exchange in the world.

9. Singapore:

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Total wealth held in the city-state amounts to US$870 billion. Home to 213,000 millionaires and 23 billionaires. Singapore is known to be one of the most business friendly countries in the world and has particularly low tax rates.

10. Chicago:

chicago

Total wealth held in the city amounts to US$860 billion. Home to 135,000 millionaires and 12 billionaires. Strong in a large number of sectors. Major industries include transportation, financial services (insurance), FMCG and manufacturing.

11. Sydney:

Sydney Harbour Bridge taken from a sea plane

Total wealth held in the city amounts to US$850 billion. Home to 110,000 millionaires and 14 billionaires. Sydney is one of the top financial centers in Asia and has become one of the most sought after destinations for the world’s super-rich due to its lifestyle, safety and climate. Major industries include financial services, real estate, IT, tourism, retail and media.

12. Toronto:

toronto average

Total wealth held in the city amounts to US$850 billion. Home to 108,000 millionaires and 12 billionaires. Toronto is home to the 9th largest stock exchange in the world. Major industries include financial services, real estate, IT, media and telecoms.

13. Frankfurt:

frankfurt-4

Total wealth held in the city amounts to US$830 billion. Home to 120,000 millionaires and 20 billionaires. Frankfurt is home to the 10th largest stock exchange in the world and is the financial capital of mainland Europe. Major industries include financial services and professional services.

14. Mumbai:

MUMBAI 2

Total wealth held in the city amounts to US$820 billion. Home to 45,000 millionaires and 28 billionaires. Mumbai is the economic hub of India. It is also home to the Bombay Stock Exchange (BSE). Major industries in the city include: financial services, real estate and media.

15. Paris:

paris 2

Total wealth held in the city amounts to US$800 billion. Home to 107,000 millionaires and 18 billionaires. Major industries include financial services, real estate and manufacturing (automotive,luxury consumables).

Source: NWWealth