top 50 richest cities in the world 2020

I cover the world's richest people and how they made their billions. Home to the New York Stock Exchange (NYSE) and the famous American street of Wall Street, New York is regarded as one of the world's wealthiest cities. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. 4, respectively. Gautam Shantilal Adani. Which Countries are Buying Russian Fossil Fuels? Otherwise, the city serves as a global financial centre, due to its large abundance of banks, insurance companies, and financial service centres. Ever since, San Francisco has remained a strong financial stronghold for the state of California. Lower down the list So, which cities are lower ranked than in previous years? Click on the headers to reorganize columns. RANKED: These Are The 50 Richest Towns To Live In The United States, 2020 Sophie Ireland C-Suite Lifestyle February 21, 2020 With an average household income of more than $525,000, Atherton, California is the richest town in the United States, that's according to a Bloomberg report. The Big Smoke is no stranger to economic prosperity. Currently, you are using a shared account. In the U.S., a few tax-friendly states like Texas and Florida became home to American companies moving their head offices there. You need a Statista Account for unlimited access. Richest Places in the World According to a recent study by Forbes, the five richest cities in the world are Tokyo, New York City, Los Angeles, London, and Paris. Everything from financial services, fashion, digital media, the food/beverage industry and tech found a home in Toronto. It is home to 304,900 resident millionaires, making it the city with the second most millionaires in the world. How many millionaires, centimillionaires, and billionaires live in the worlds wealthiest cities? Kuwait (-4) will be the worst loser, followed by The Bahamas (-3) and Iceland (-3). statistic alerts) please log in with your personal account. 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. The USA is the only country with a large surface area and population among the highest-ranking nations, ranking eleventh. Its wealthiest resident, , chairman and CEO of Internet media behemoth Tencent Holdings, is the, . Countries that want to attract wealthy individuals will have to apply tax-friendly policies along with other factors such as quality of life, safety, education, and access to amenities that ultra-wealthy residents value. Devoted to encouraging economic development, Chicagos Department of Planning and Development has a number of economic development initiatives. Ranked: The Worlds Richest Billionaires Over the Past 10 Years, All of the Worlds Money and Markets in One Visualization (2022), The U.S. and China Account for Half the Worlds Household Wealth, Charting the Relationship Between Wealth and Happiness, by Country, Mapped: The Wealthiest Billionaire in Each U.S. State in 2022, Poll: Inflation is the Top Financial Concern for Americans, From New York to Damascus, this infographic uses EIU cost of living data to rank the worlds most and least expensive cities to live in. Hurun Research Institute. (((61/33)^(1/15))^10)*33 and (((33/21)^(1/15))^10)*21. The Southeast Asian city-state gained nine new billionaires since 2019, while the South Korean capital recorded a net loss of ten members of the three-comma-club. 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. The PPP is a way to meaure prices in different countries (and ultimate convert between currencies), based on the equal amount of goods and services that can be bought. Los Angeles, Chicago and Houston round out the top five. The place is mostly known for its stunning Renaissance architecture and is . Japans largest city is home to the Tokyo Stock Exchange, which is one of the largest stock exchanges in Asia by market capitalization. Being China's largest city, Shanghai also houses on of the world's largest ports, due to its proximity to the Yangtze River Delta. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. Five are new billionaires from the finance industry, including private equity wizards, . from people staying indoors and spending more time online. 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. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker. The Southeast Asian city-state gained nine new billionaires since 2019, while the South Korean capital recorded a net loss of ten members of the three-comma-club. Are you interested in testing our business solutions? Learn more about how Statista can support your business. We added hundreds of new lists - see our top 101 city lists. 12. 1. The richest person in New York City is Bloomberg LP founder and former Mayor, $1 billion of his $48 billion fortune on a failed presidential campaign before dropping out in March to endorse Joe Biden. China's capital city offers services in key sectors related to finance, information technology, scientific research, and industry. In an attempt to rank the cities of the world according to wealth, we will use the Purchasing Power Parity (PPP) as a means of comparison. 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? Tourism is another major contributor to the economy of Philadelphia. The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. Like the other cities mentioned in our list of the richest cities of the world, the economy of Washington, D.C. is a diverse one. What is the Cost of Living in New Hampshire? Each of the columns in the table is sortable by pressing on the arrows at the head of the column: Cities (metropolitan areas) by percentage of national GDP. Not surprisingly, China is home to three of these cities, including Hong Kong (SAR). The headquarters of several cities are also found in Tokyo, which include Honda, Sony, Hitachi, and Mitsubishi. With an estimated GDP of $310 billion, Mumbai ranks number one in the list of the richest cities in India. It is through the electric car maker Tesla and in space by rocket produced by SpaceX. Newcomers from other sectors also joined the ranks, including AI pioneer Daniel Dines and Brooklyn native Jay-Z. 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. Caloocan City: $360 million. Both these cities had high inflation and a strong currency. Current Health Expenditure per Capita. In total, these 30 people control. Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. This international city has over 192,000 resident millionaires with 34 billionaires. Kolkata is the financial, commercial and industrial hub of the North East region. 1. A huge part of this development was the influx of multi-national corporations. ", Hurun Research Institute, Leading cities with the most billionaires in 2022 Statista, https://www.statista.com/statistics/299494/billionaires-top-cities/ (last visited March 04, 2023), Leading cities with the most billionaires in 2022 [Graph], Hurun Research Institute, March 17, 2022. Kim Kardashian- $1 billion. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. , who is also the richest person in the nation. Once a top contender in manufacturing, today manufacturing revenue covers only around 10 percent of the economy. [3] List [ edit] Loudoun County is the richest county in the USA, with an estimated average household income of $ 117,876. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. Here are the 10 leading cities for the wealthy for 2019. More than 80% of Russias, call its capital home, including mining mogul. ed from the effects of the trade war with the U.S., the citys billionaires added $29.7 billion to their collective net worth since 2019. If we're looking at cities in terms of total wealth, then the Big Apple leads the pack by a country mile. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. Though still bruised and battered by the effects of the pandemic, New York City is holding true to its reputation as a tough and resourceful city. Fortune 500 companies include Comcast, Colonial Penn, Sunoco, Aramark, CIGNA, Lincoln Financial Group, and more. Our ranking shows the 50 wealthiest countries, measured by gross domestic product per capita and adjusted by the purchasing in the respective country. About 300 cities have population over 1,00,000. Singapores richest resident. Most affluent women worldwide 2022, by net worth, Worldwide wealth distribution by net worth of individuals 2021, Countries with the highest wealth per adult 2021. Available: https://www.statista.com/statistics/299494/billionaires-top-cities/, Leading cities with the most billionaires in 2022, Available to download in PNG, PDF, XLS format, Global billionaire population by region 20121, Growth of billionaire wealth globally 2020, by industry, Age distribution of billionaires globally 2021, Value added to the wealth of the world's leading billionaires during pandemic 2021, Number of billionaires worldwide by wealth source 2021, Wealth distribution of billionaires around the world 2021, Total wealth distribution of billionaires around the world 2021, Share of the global wealth held by the richest percent 2010-2021, Distribution of billionaires worldwide 2021, by gender, Youngest billionaires globally 2022, by net worth, Richest self-made women in the United States 2022, based on net worth, Distribution of billionaires in the U.S. by gender 2022, Source of billionaire's wealth worldwide in 2020, by gender, Number of ultra high net worth individuals 2021, by region, Ultra high net worth individuals 2021, by country, Share of the world's billionaires by region 2021, Number of billionaires in Europe in 2021, by country, Wealth of billionaires around the world by region 2021, Primary industries of billionaires worldwide 2021, Breakdown of the average billionaire's wealth worldwide 2021, by assets, Most affluent people in the tech industry worldwide 2022, by net worth, Countries with the biggest emigration of millionaires 2020, Average net worth of billionaires worldwide, 2013, Top 10 countries by average wealth of billionaires 2013, Top 10 countries by the number of billionaires per capita 2013, African cities with the most billionaires, as of 2014, Educational attainment of billionaires worldwide, 2013, Number of billionaires in Africa 2013, by country, Gender distribution of billionaires worldwide, 2013, Top 10 countries by percentage of female billionaires 2014, Average number of children of billionaires worldwide, 2013, Marital status of billionaires worldwide, 2013, Source of billionaire's wealth worldwide, 2013, Average age of billionaires worldwide, 2013, Number of billionaires in select European cities 2014-2018, Top 10 countries by the percentage of female billionaires 2013, Investments of high-net-worth individuals, Find your information in our database containing over 20,000 reports, the most significant industries in the global billionaire production line. Tokyo may not be as wealthy as New York, but this megacity remains one of the richest cities in Asia. 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. Cities in the UAE became millionaire magnets, attracting over 4,000 millionaires in 2022. The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10.

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top 50 richest cities in the world 2020