top 50 richest cities in the world 2020 top 50 richest cities in the world 2020

China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. India is the second largest country in the world after China. Chart. 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. Number of individuals with a net worth of $5 million or more: 49,005 Percentage of global population: 1.7% Paris is the capital and most populous city of France, with an estimated population of 2,150,271 residents as of 2020, in an area of 105 square kilometers (41 square miles). 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. 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. Newsletter. Major metropolitan areas contributing at least 2.5% of world GDP. Companies that have offices in Boston include BNY Mellon, Goldman Sachs and Microsoft. According to the Hurun Global Rich List 2022, the leading city with the most billionaires in 2022 was Beijing. But what are the fastest growing cities for the rich? Let me take you through the updated list of the World's richest cities as of 2022. 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. Kolkata is the financial, commercial and industrial hub of the North East region. Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. In fact, such diversity plays well in times of economic hardship, which includes the recent downturn caused by the pandemic. The Private Industry Council works to promote the local economy via job training programs. These are the 10 wealthiest cities in the world - and the number of wealthy individuals who live in each of them - according to Henley & Partners' report. ", 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. Of the top 50, the city with the biggest jump in the rankings was Austin, Texas, which moved up 18 spots from 2017 to claim No. Tokyo is the most fascinating city to live in but also the most densely packed. 3. In order to recoup losses, in June of 2022, the city of Shanghai released a post-lockdown business recovery plan. 1. 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. 7 and Shanghai and Beijing staying flat at No. to incorporate the statistic into your presentation at any time. In fact, Tokyo plays host to the top money-building organizations and minds anywhere on Earth. Tourism not only pumps money into San Francisco's economy by way of tourist spending, it also offers a source of jobs in the city. The PPP value of a city (or country) is commonly used by macroeconomic analysts and economists, as its a popular metric to determine a city's standard of living and economic prosperity. In addition, Singapores political stability, low crime rate, and high standard of living have also contributed to its appeal as a place to live and work. Furthermore, Los Angeles' wealth is also tied to its appeal to immigrants and innovative companies involved in information and technology. Other notable NYC billionaire residents include hip-hop superstar, , the widow of former Koch Industries magnate. Fortune Global 500 companies include SK Holdings, POSCO, LG Electronics and more. In fact, Seoul is known as the most wired city in the world due to the high concentration of high-tech industries. Visakhapatnam - Industrial Port Of India. The Football Lovers Menu News Premier League Manchester City Manchester United Liverpool Chelsea Arsenal Leicester City Tottenham Hotspur West Ham United Everton Transfers Top 10 Quizzes This international city has over 192,000 resident millionaires with 34 billionaires. 2. Unlike so many other cities bending under the weight of a post-pandemic world, Houstons economy hs gotten stronger. 9 last year. Moreover, much of London's wealth is concentrated in neighborhoods like Westminster, Kensington, Islington, and Chelsea. The typical American household earns $57,617 per year. Five are new billionaires from the finance industry, including private equity wizards Tony Tamer and Steven Klinsky. Accessed March 04, 2023. https://www.statista.com/statistics/299494/billionaires-top-cities/, Hurun Research Institute. Currently, you are using a shared account. This statistic is not included in your account. 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? Tripoli and Tehran, the capitals of Libya and Iran, respectively, follow next on this list, reflecting their weakened economies. The richest person in New York City is Bloomberg LP founder and former Mayor Michael Bloomberg, who spent nearly $1 billion of his $48 billion fortune on a failed presidential campaign before dropping out in March to endorse Joe Biden. Besides thriving on industries related to finance, tourism, and media, London's wealth is also linked to the London Stock Exchange (LSE). The manufacturing and export hub across from Hong Kong added five members to the three-comma-club in the last year, all of them self-made. 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. (Video) TOP 10 RICHEST CITIES In The World 2021 (Uncover) Which is the richest city in the world 2022? 1. Among Singapores newcomers are gaming tycoons Forrest Li and Gang Ye, cofounders of the online gaming and e-commerce firm Sea; both industries have benefited from people staying indoors and spending more time online. March 17, 2022. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. Standing as one of Russia's largest industrial and financial centre, much of the country's wealth is still tied to this capital city. While Shenzhens export-led manufacturers have struggled 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. 24/7 Wall Street reviewed income levels in 382 metropolitan . Mapped: Which Countries Have the Highest Inflation? In pre-Covid times, Chicago clocked round 55 million tourists in 2017. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. You only have access to basic statistics. In some U.S. cities, however, more than half of all households earn $70,000-plus. 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, . Those include Abhay Vakil, who heads Indias largest paint company, Asian Paints, and the Parekh brothers, who control adhesives and sealants maker Pidilite Industries. statistic alerts) please log in with your personal account. [1] The list is limited to the top 50 companies, all of which except Elevance Health have annual revenues exceeding US$140 billion. Founded in 1630, Boston is one of our countries oldest cities. This northern Chinese city is not only a hub for luxury brands, it headquarters China's largest companies, many of which are considered in the Fortune Global 500. StartupTalky has compiled an exhaustive list of the top richest people in India for the year 2022. These are of very low quality and should be avoided. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. City of Clayton -$146,225. 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. Furthermore, Tokyo owns 10% and close to 16% of Japan's officespace and workers, respectively. London is known for its financial and business sectors, and it attracts a significant number of high-earning professionals who contribute to its reputation as a hub of wealth and luxury. San Ramon ranks among the top ten safest cities in California. The top ten richest cities in the world based on private wealth include: In detail, 144 billionaires resided in the capital of China. 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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. It checks all the boxes when it comes to being an economically successful place: physical connectedness (ports, rivers, public transporatation), investment opportunities (access to venture capital), and attracting a crowd of skilled individuals from around the globe, nurturing a culture of innovation. 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. New York City: 107 Billionaires. Loudoun County. A big economic draw for San Francisco is its close proximity to Silicon Valley. Washington, District of Columbia: $578.985 Billion, 4. 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. Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. The billionaire's rank, nationality, and source of his or her wealth is listed. Blessed with an affordable cost of living, two stunning shorelines, vibrant cities, and swathes of glorious scenery, its understandable, Read More The 10 Best Places to Live in Mexico for AmericansContinue, If you live in Kentucky already, then youll already be well aware that when it comes to crime, the Bluegrass State is doing pretty well for itself. For instance, billionaires like Zhang Yiming, founder of TikTok, calls the capital city home (with a net worth of about $35.6 billion USD)! According to the United Nations' latest report on populations in cities, by 2030, "urban areas are projected to house 60 percent of people globally and one in every three people will live in . Sweeping sunsets, desert landscape, and breathtaking canyonsthese are the things that most everyone think of when someone says Arizona. 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. 9 last year. Kimberly Noel Kardashian West is an American media personality, socialite, model, businesswoman, producer, and actress. When is it OK to Buy a House Site Unseen as an Investor? Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. This may not be surprising, considering the U.S. is the world's largest wealth marketit holds over 29% of the world's wealth. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis. This site uses Akismet to reduce spam. from people staying indoors and spending more time online. 11. Reportedly, the top 20% earners in the city have an average salary of over $280,000 USD, with the top 5% earning over $530,000 USD. 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. Tokyo, Japan- GDP: $1,520 billion. Beijing, China: $591.374 Billion Beijing is the capital of China and has a population of over 20 million. Foreign corporations such as IBM, Nestle, Hewlett-Packard and more flooded Beijing, causing a rapid economic expansion. Among the top 50 economies having the highest gdp per capita, Macao SAR . Its known as the mecca of tech innovation, and as a result, the region has a high concentration of wealthy individuals. "The Sy siblings took the biggest hit in dollar terms but remain at No. Refer to sources for more information. NYC has held the title of the wealthiest city in the world for many decades now, housing around 59 billionaires and a whopping 345,600 millionaires! Its been rapidly replaced by information tech and financial services. Everything from financial services, fashion, digital media, the food/beverage industry and tech found a home in Toronto. There are many benefits to living in an iconic city like New York or Singapore, but the amenities and exclusivity can come at a high cost. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. The cannabis business is rather recent, but also encourages financial growth for the city. This includes the burgeoning FinTech, or financial technology industries. Fortune 500 companies located in the Rhine-Ruhr metropolitan area include: ThyssenKrupp AG, RWE AG, Bayer AG, Evonik Industries, among others. London: 63 Billionaires Since Last Year: +7 Total Net Worth: $316.1 Billion Richest Resident: Len Blavatnik, $32 Billion The third-wealthiest country in Asia is Japan, with just over $5.3 trillion. 4. One dropoff is Rajan Raheja, a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. Mapped: Europes Biggest Sources of Electricity by Country, Visualizing the Scale of Global Fossil Fuel Production, Visualizing U.S. Other companies crucial to Seouls economic health include: Kia, Daewoo and Hyundai. Additionally, approximately 18% of Japan's universities are found in Tokyo. Macao SAR will climb from 17th in 2020 to 9th in 2021. Quezon City: $1.69 billion. 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. For instance, the city of New York is a metropolitan area made up of 5 boroughs with each borough contributing to the cities overall GDP. In other words, the city produces poor copies of everything from designer fashions to scooters. Though affordability sounds good at face value, sitting at the bottom of the ranking isnt necessarily a coveted position. U.S. Inflation: How Much Have Prices Increased? Moscow is the only other city among the top 10, besides Shenzhen, where every single billionaire is self-made (as opposed to inheriting a fortune); many have close ties to Russian President Vladimir Putin. Trip Ideas; He is worth $1 billion, becoming the richest actor in the world. To this day, Macao is the only country on the list whose per-capita purchasing power is lower than it was before the start of the pandemicabout $125,000 in 2019, down by $40,000 today. Kolkata is house of many Indian corporations like Coal India Limited, ITC Limited, Britannia Industries, Allahabad Bank,. Other profitable sectors include information technology, medical technology, retail, financial and legal sectors. In fact, according to this chart, you can see that manufacturing takes the lead with 16.6 percent followed by retail at 16.6 percent and real estate at 11.4 percent. Profit from the additional features of your individual account. The number of millionaires has been growing steadily over the last 10 years, and if the trends of recent years hold, San Francisco could become the number one millionaire hub by 2040. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others.