3. Furthermore, Los Angeles' wealth is also tied to its appeal to immigrants and innovative companies involved in information and technology. Singapore and New York City tied for the first rank amongst the worlds most expensive cities in 2022, pushing Israels Tel Aviv from the first place in 2021 to the third place in 2022. Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. + - Leaflet | Tiles OpenMapTiles | Data OpenStreetMap contributors Income distibution for all U.S. cities With about 2,320 multi-millionaires calling Paris home, the backbone of this European city relies on hospitality, commerce, transportation, and other services. It is also home to Wall Street, the financial capital of the US and the world. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. Kuwait (-4) will be the worst loser, followed by The Bahamas (-3) and Iceland (-3). Europe comes in third with five cities, though only London makes into the top 10 portion of the ranking. Being a world-class city that attracts prominent figures in the tech industry, San Francisco is one of California's most popular (and richest) cities. Learn more about how Statista can support your business. Singapores richest resident, Zhang Yong, is also Chinas richest restaurateur the owner of Sichuan hot pot chain Haidilao is $4.2 billion richer than he was in 2019, thanks to a 53% rise in the companys stock over the past year. To make the list, the EIU examines 400+ prices for over 200 products and services in 172 cities, surveying a variety of businesses to track price fluctuations over the last year. This included plans of action to assist with rent, taxes, business subsidies and more. statistic alerts) please log in with your personal account. The decade-long conflict in Syria weakened the Syrian pound, led to a spiraling inflation and fuel shortages, and further collapsed its economy. Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. Beijing also has the dubious distinction of being the knock-off capital of the world. Additionally, factors such as taxes, transportation costs, and availability of goods and services can also contribute to the overall cost of living in global cities. A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. As of 2020, there is an estimated $3 trillion worth of assets and capital in the city. How many millionaires, centimillionaires, and billionaires live in the worlds wealthiest cities? Foreign corporations such as IBM, Nestle, Hewlett-Packard and more flooded Beijing, causing a rapid economic expansion. 1. On this list, New York City was ranked as the richest city with a total of $3 trillion in private wealth. San Ramon ranks among the top ten safest cities in California. The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. According to Jennifer Reynolds, Pre4sident and CEO of Toronto Finance International, Torontos success is due in large part to the strength and significant growth of its financial industry. 1. New York City, USA: $1,330.000 Billion. 1. GM was the best-performing automobile company in the 20th century but has still maintained a top position among the wealthiest car manufacturers. Though San Francisco relishes in its economically wealthy reputation due to the nature of Silicon Valley and its billionaire population, Los Angeles enjoys a similar status. Cities become expensive due to a variety of factors such as high demand for housing, a concentration of high-paying businesses and industries, and a high standard of living. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. Ever since, San Francisco has remained a strong financial stronghold for the state of California. 24/7 Wall Street reviewed income levels in 382 metropolitan . 10. Once a top contender in manufacturing, today manufacturing revenue covers only around 10 percent of the economy. If we're looking at cities in terms of total wealth, then the Big Apple leads the pack by a country mile. Among Singapores newcomers are gaming tycoons, , cofounders of the online gaming and e-commerce firm Sea; both industries have. It takes decades of consistency for these factors turn a place around in terms of success and richness; a city can not accumulate wealth overnight, and if it does, this wealth will most likely not stick around for long. Organisation for Economic Co-operation and Development, List of most expensive cities for expatriate employees, List of country subdivisions by GDP over 200 billion US dollars, "Gross Domestic Product: Implicit Price Deflator", "Standard country or area codes for statistical use (M49): Geographic Regions", "Global Wealth GDP Nominal Distribution: Who Are The Leaders Of The Global Economy? Two of those in Beijing are new billionaires this year: of TAL Education Group, both of whom own companies that provide online education and after-school tutoring for students. Ahmedabad - Textile Hub Of India. Though London had a net gain of one new billionaire this year, this city that appeals to the worlds elite actually has five new billionaire residents who hail from outside the United Kingdom, including Russian brothers, , founders of online gaming firm Playrix; and, , who inherited part of the fortune of her late father, Brazilian healthcare tycoon, in an effort to slow the spread of the coronavirus in January, boosting the fortunes of online retail titans like, . London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. Standing as one of Russia's largest industrial and financial centre, much of the country's wealth is still tied to this capital city. Though London had a net gain of one new billionaire this year, this city that appeals to the worlds elite actually has five new billionaire residents who hail from outside the United Kingdom, including Russian brothers Dmitry and Igor Bukhman, founders of online gaming firm Playrix; and Camilla de Godoy Bueno Grossi, who inherited part of the fortune of her late father, Brazilian healthcare tycoon Edson de Godoy Bueno. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. Moreover, when it comes to its residents, there are about 9,210 multi-millionaires calling London home, as well as 38 billionaires. In the list of Forbes' Philippines' 50 Richest 2020, the Sy siblings remain at the number one spot of Philippines' Rich List for this year with a net worth of $13.9 Billion despite losing $3.3 Billion due to the pandemic. However, its also a city steeped in industry. Furthermore, the Big Apple was also a popular destination for entrepreneurs and innovative businesses, furthering its reputation as a financially-savvy city. Which Countries Have the Lowest Inflation? Here are the 10 leading cities for the wealthy for 2019. Frankfurt in Germany is the second richest city after Dublin with an income of $102,941 per capita. Many cities in India are densely inhabited, trade between them has improved, and transportation systems have been modernized. 11. Pasay City: $350 million. Hurun Research Institute. Our ranking shows the 50 wealthiest countries, measured by gross domestic product per capita and adjusted by the purchasing in the respective country. - Full Size", "Gross domestic product (GDP) at basic prices, by census metropolitan area (CMA)", "Population estimates, July 1, by census metropolitan area and census agglomeration, 2016 boundaries", "Population on 1 January by age groups and sex - functional urban areas", "President: Almaty turns into large regional investment attractive centre", "Posio ocupada pelos maiores municpios brasileiros em relao ao Produto Interno Bruto, Est. 1. Zhongguancun is considered the Silicon Valley of China and is deeply rooted in the electronics and high-tech industries such as Microsoft, Sony and Google. When determining the GDP, the UN classifies 3 methods to determine it: City proper, urban area and metropolitan regions.. Our numbers for the richest cities in the world are based on the metropolitan statistical region. 12. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis. Current Health Expenditure per Capita. Aside from establishing the NYSE in the early 19th century (formerly known as the New York Stock and Exchange Board), the city was set in a convenient location for trading, due its proximity to the Hudson River and the Great Lakes. 5. This statistic is not included in your account. In 2022, the combined wealth of India's 100 richest increased by $25 billion to touch $800 billion. The 150 richest cities in the world by GDP in 2020 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. The Big Apple has historically been a hub for trade and investment, due to a buzzing port and its very well connected location, with rivers and canal systems reaching out to the midwest. , a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. The billionaire's rank, nationality, and source of his or her wealth is listed. Reportedly, Moscovites earn a higher salary compared to national average, with many much of their income tied to renting real estate property and entrepreneurial ventures. This international city is also attractive to domestic and foreign investors alike. While such metrics are not all encompassing, these measurements of private wealth do help put the financial health and economic activity of some of the worlds wealthiest cities in perspective. In particular, the United States claims five of the cities in the top 10, including the very top spot with New York City. According to the Greater Houston Project, As retailers work to rebuild their inventories, as factories struggle to resolve supply chain issues, as the global economy continues to grow, so will the demand for Houstons exports, and so will Houston employment,. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. Its been rapidly replaced by information tech and financial services. 50 Richest Countries in the World 2020. Cities in the UAE became millionaire magnets, attracting over 4,000 millionaires in 2022. However, Shanghai is one of Asia's most expensive cities to live in, due to its high cost of living, from real estate to daily transportation. The City of Chicagos economy is home to a strong financial sector which includes the Chicago Board of Trade, NYSE Arca, Chicago Mercantile Exchange, Chicago Board Options Exchange and the Chicago Stock Exchange. In the past, manufacturing was seen as a booming sector in Shanghai, but lately its slowed and is being replaced by financial services, trade, information tech, real estate and commerce, among others. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. Other profitable sectors include information technology, medical technology, retail, financial and legal sectors. 7 and Shanghai and Beijing staying flat at No. Today, with 272,400 millionaires, the city holds a more humble position. The typical American household earns $57,617 per year. You only have access to basic statistics. South Koreas Wall Street is the Korea Exchange in Yeoui Island. Besides being a major educational hub and commercial space, Tokyo's economy relies on industries related to healthcare, communications, transportation, and real estate. How does a city become one of the wealthiest in the world? Values soared as interest rates on loans went down in a sellers market, which made it tougher to find affordable properties. 1 with $13.9 billion. This is a list of cities in the world by gross domestic product (GDP).The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. Seoul is a gorgeous city and the economic hub of South Korea. Boasting a financially fruitful economy, the Big Apple is known for its abundantly wealthy population, with a the collective wealth of over $3 trillion USD. As such, you can see how anything affecting these shipping ports will have a negative impact on world wide supply chain logistics. London: 63 Billionaires Since Last Year: +7 Total Net Worth: $316.1 Billion Richest Resident: Len Blavatnik, $32 Billion Moreover, dozens of Russia's most prominent companies are also headquartered in Moscow that contribute to the city's wealth, which includeRosneft, Sberbank, Russian Railways, and Lukoil. The four cities that made the top 50 in 2019 but did not make . UAE in Top 20. He is popularly known for his role as Madea on House of Payne. This includes the burgeoning FinTech, or financial technology industries. Furthermore, 121. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. Image Source. Their net worth is based on the data from 2022 available on their respective Forbes profiles. Beijing's richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion. As a Premium user you get access to background information and details about the release of this statistic. Please create an employee account to be able to mark statistics as favorites. Taguig City: $480 million. Tripoli and Tehran, the capitals of Libya and Iran, respectively, follow next on this list, reflecting their weakened economies. Meanwhile, seven cities in Asia with the common denominator of high-income inequality and low wages dominate the list of the worlds cheapest cities. "Leading Cities with The Most Billionaires in 2022. Mumbai - City Of Dreams. Tokyo, Japan- GDP: $1,520 billion. A big economic draw for San Francisco is its close proximity to Silicon Valley. Delhi city is the second most populated city in the world with a 30,291,000 million population. , who is also the richest person in the nation. Keep in mind that state-owned corporations in China get tremendous government support no matter what the economic conditions, even Global 500 companies like SAIC Motor and China National Petroleum. Additionally, approximately 18% of Japan's universities are found in Tokyo. - Full Size", "Global Wealth PPP Distribution: Who Are The Leaders Of The Global Economy? One dropoff is Rajan Raheja, a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. By 900,. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. Richest Resident: Colin Zheng Huang, $55.3 Billion Shanghai remained at number six despite adding 18 new billionaires and Colin Zheng Huang is the richest resident of the city. The median home value for the lower Tribeca area is around $2.5 million. Home to both invention and innovation, animes, mangas and of course, robots, Tokyo is known as the financial center of the world. Property prices fell across the board in Hong Kong in late 2019, damaging the real estate industry that is the source of wealth for many of the citys richest, including Hong Kongs sole newcomer real estate developer Lun Ruixiang. The 10 Best Places to Live in Mexico for Americans, The 20 Cheapest Places to Buy Land in the U.S. 2022, 20 Cities with The Worst Weather in Europe, How Zac Stacy Achieved a Net Worth of $6 Million. The cities shown in our visualization are already well-established locations for high-net-worth individuals. 9 last year. As of March 2023, MacKenzie Scott's net worth is estimated to be $33.3billion. We added hundreds of new lists - see our top 101 city lists. According to Investopedia, Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a countrys borders in a specific time period. In this case, we are looking at the GDP of metropolitan statistical areas, and not countries. "Leading cities with the most billionaires in 2022." Despite being significantly smaller than Los Angeles, San Francisco houses more millionaires than its southern California counterpart. After all, Paris is one of the hotbeds of world tourism, its the city of love and art. The Private Industry Council works to promote the local economy via job training programs. The infographic above uses data from EIU to rank the world most and least expensive cities to live in. Top 10 Poorest Countries In The World 1. Kimberly Noel Kardashian West is an American media personality, socialite, model, businesswoman, producer, and actress. 6 and No. 27. Another crucial element is the neighborhood of Zhongguancun. Paris is also home to several Fortune Global 500 companies such as, BNP Paribas, Peugeot, CNP Assurances, SNCF, Vivendi and more. In fact, such diversity plays well in times of economic hardship, which includes the recent downturn caused by the pandemic. Here are the Top 10 Richest Places in America and how they split their Heroes Act bailout allocation: #1. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. The list of top 50 richest football clubs in the world ranked by Forbes have been revealed. New York's richest person and former mayor, Michael Bloomberg, is worth $59 billion. Los Angeles, Chicago and Houston round out the top five. However, invading a sovereign nation had its consequences, and Russias entire economy is in a state of disrepair. More than 80% of Russias, call its capital home, including mining mogul. New York City: 107 Billionaires. A little known fact is that L.A. is the manufacturing center of the country. Visualizing the Global Share of U.S. Stock Markets. Home to about 393,000 millionaires, Seoul's economy is rooted in manufacturing, financial services, and transportation. This video will compare the top 50 richest people in the world by net worth in 2020. area followed by Delhi, Kolkata, Bangalore and Chennai. Chicago, which serves as the home base for 35 Fortune 500 companies, is home to 160,100 millionaires, 340 centimillionaires and 28 . Even though the city was riddled with the effects of the pandemic, Job growth occurred with another 5,700 jobs added. The LSE is one of the largest stock exchanges in Europe, encompassing assets from over 2,400 companies, with many of these companies using London as their central headquarters. There are 4,000 cities and towns in India. It leverages a comprehensive data set that tracks the movements and spending habits of high-net-worth individuals in over 150 cities around the world.