These four cities are, Singapore broke into the top 10, replacing Seoul, which was No. 2. Dubai Advantage | 50 Richest Countries in the World 2020 The Top 5 Cities in Mexico in 2020. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker. New York City is also considered the country's leader in finance due to its storied past. Kolkata is the third richest city in South Asia after Mumbai and Delhi. Quezon City: $1.69 billion. 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. 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. If you are an admin, please authenticate by logging in again. These Are the Richest Cities, Municipalities, and Provinces in the Here are the 10 cities in the world with the most billionaires: New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. 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, . Meanwhile, Barcelona dropped to No. 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. Its no surprise that its capital city of Damascus has maintained its position as the worlds cheapest city. Leading billionaire cities 2022 | Statista Photo: @Kim Kardashian West. In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. The top ten richest cities in the world based on private wealth include: 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. The international megacity is the country's bustling financial and commercial hub, with its economic wealth tied to its services in finance, healthcare, professional and business services, retail, and education. For the first time, revenues from Global 500 companies in Greater China (including Taiwan). The Big Smoke is no stranger to economic prosperity. Most such agglomerations are economically, socially and culturally dominated by one city at their centre. You can only download this statistic as a Premium user. Singapore has one of the highest densities of millionaire households in Asia, with over 5% of households having at least $1 million USD in net financial assets. Burundi GDP Per Capita: 724 Burundi, located in Central Africa, is the number one poorest country in the world by current figures. London City | Photo: Reuters 7. Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. Ranked: The World's Wealthiest Cities, by Number of Millionaires Situated in the southern part of California, Los Angeles is known for its large population of celebrities, tech moguls, and the financially fortunate. 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. 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. Tripoli and Tehran, the capitals of Libya and Iran, respectively, follow next on this list, reflecting their weakened economies. 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. Major metropolitan areas contributing at least 2.5% of world GDP. 27. 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. After their divorce, MacKenzie received a 4% stake in Amazon, which was worth about $35 billion at the time. Interactive map This is due in part to the countrys strong economic growth and favorable business environment, which has attracted many wealthy individuals and families to the country. New York City. The city-state of Singapore is the wealthiest country in Asia, with a per-capita GDP of . 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. Pasay City: $350 million. 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. 6 and No. Visakhapatnam - Industrial Port Of India. It has more sunshine than Florida, Read More The 20 Safest Places to Live in ArizonaContinue, Generally speaking, when people set out to buy a property, they are recommended to check out the property in person before making the purchase. Currently, you are using a shared account. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. . Media mogul turned politician Michael Bloomberg, founder of Bloomberg, is the . - 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. Basically, the metropolitan areas of Maastricht. If youre looking, Read More The 20 Cheapest Places to Buy Land in the U.S. 2022Continue. Besides thriving on industries related to finance, tourism, and media, London's wealth is also linked to the London Stock Exchange (LSE). Top 50 Richest People in the World - Moneymint 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. Visualizing the Global Share of U.S. Stock Markets. Get full access to all features within our Business Solutions. You only have access to basic statistics. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. 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. 24/7 Wall Street reviewed income levels in 382 metropolitan . Florence, Italy - 2.59% Millionaires. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. The 20 Richest ZIP Codes in the USA - MoneyWise In 2022, cities with strong oil and gas industries like Riyadh, Sharjah, Dubai, Luanda, Abu Dhabi, Doha, and Lagos grew exceptionally. The international city of romance boasts an economically wealthy status. Top 10 Richest Cities In India 2021 The Rhine-Ruhr metropolitan area is the economic power house of Germany. Ranked: The Top 10 Global Cities, by Ultra-Wealthy Population Otherwise, the city serves as a global financial centre, due to its large abundance of banks, insurance companies, and financial service centres. Although she spends most of her time writing, she also enjoys spending time with her husband and four children, watching films, cooking, dining out, reading, motorsports, gaming, and walking along the beach next to her house with her dog. Use Ask Statista Research Service. "Leading cities with the most billionaires in 2022." The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 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 . Richest City in the World 2023 - worldpopulationreview.com Top 10 Richest Cities in the World - Luxatic London has been the worlds wealthiest city for years, but over the past decade there has been an outflow of millionaires. And for the sixth year in a row, more billionaires call New York City home than any other city in the world. Washington, D.C.. In order to recoup losses, in June of 2022, the city of Shanghai released a post-lockdown business recovery plan. Being the largest city of the country, Mumbai is extensively . Kolkata is the financial, commercial and industrial hub of the North East region. 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. We added hundreds of new lists - see our top 101 city lists. Other industries driving their economy are tech, tourism, and the service industries such as hospitality. Dublin is the wealthiest city, with a per capita income of $115,094. Newsletter. area followed by Delhi, Kolkata, Bangalore and Chennai. 30 in the index, a. How many millionaires, centimillionaires, and billionaires live in the worlds wealthiest cities? Kimberly Noel Kardashian West is an American media personality, socialite, model, businesswoman, producer, and actress. Being China's largest city, Shanghai also houses on of the world's largest ports, due to its proximity to the Yangtze River Delta. He is popularly known for his role as Madea on House of Payne. Furthermore, the Big Apple was also a popular destination for entrepreneurs and innovative businesses, furthering its reputation as a financially-savvy city. , a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. 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. 5. The Periodic Table of Commodity Returns (2013-2022), Visualizing 25 Years of Lithium Production, by Country, Ranked: The Worlds Largest Copper Producers, All the Metals We Mined in 2021: Visualized, Chart: Automakers Adoption of Fuel-Saving Technologies, Explainer: What to Know About the Ohio Train Derailment, A Visual Crash Course on Geothermal Energy. Fortune Global 500 companies in Tokyo include: Honda Motors, Hitachi, Sony, Mitsubishi and more. The city by the bay has five fewer billionaires than a year ago in part because fortunes fell below $1 billion for former Uber CEO Ryan Graves and Pinterest cofounder Ben Silbermann. 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. L.A. is also abuzz with development projects, such as refurbishing businesses like Manns Chinese Theater, as well as infrastructure projects. 4, respectively. Tokyo is the economic hub of Japan and is one of the most important cities in the world for business and finance. The 20 Richest Cities in California (Updated for 2020) - Money Inc Surprisingly, this is the Big Apples first time atop the ranking. Source: Forbes Music: Beethoven 5th Symphony However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. The Top 25 Cities in the World in 2020. List of wealthiest families - Wikipedia Gautam Shantilal Adani. Property prices, 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, 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. Another industry that rains gobs of revenue on the City of London is the tourism industry with over 20 million visitors per year. 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. Before the Ukraine invasion, Moscow was the economic hub of Russia. Let's consider New York City. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. London and Paris are the major and richest cities in Europe with a GDP of US$835 billion and US$822 billion respectively. Newcomers from other sectors also joined the ranks, including AI pioneer Daniel Dines and Brooklyn native Jay-Z. Finally, London hosts some of the most prominent Fortune Global 500 companies such as Lloyds Banking Group, Prudential, J Sainsbury, BP, Tesco and Vodafone Group, among others. Alongside its growing wealth, San Francisco is also one of the fastest growing cities in the country. London, United Kingdom: $978.402 Billion, 2. Top 50 Richest People in the World (2020) | Top Richest London: 63 Billionaires Since Last Year: +7 Total Net Worth: $316.1 Billion Richest Resident: Len Blavatnik, $32 Billion Adding to the diversity are biotech companies and information technologies. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. 1. For over 50 years, Tokyo has occupied the top spot, and shows no sign of slowing down. Some of them have topped the rankings for decades, while some others are less well-known. Loudoun County. Air Cargo News Awards 2020. dnata wins again. It had about 2,000 inhabitants at the time. In particular, the United States claims five of the cities in the top 10, including the very top spot with New York City. to incorporate the statistic into your presentation at any time. While the cost of living in some of the cities in these nations is low, it comes at the price of a weak currency, poor economy, and, in many cases, political and economic turmoil. The 20 Richest Cities in the World in 2022 - Money Inc Mapped: Which Countries Have the Highest Inflation? In 2022, the combined wealth of India's 100 richest increased by $25 billion to touch $800 billion. Learn more about how Statista can support your business. The Top 5 Cities in Mexico. L.A. makes good use of both job training programs and development projects. 2. The 15 Richest Cities in the US - MoneyWise Being a prominent city in Asia, Shanghai is home to over 24 million people, there are about6,180 multi-millionaires and 42 billionaires living in Shanghai. Lastly, London is home to several of the most well-known Fortune Global 500 firms, including the Lloyds Banking Group, Prudential, J. Sainsbury, BP, Tesco, and Vodafone Group, amongst others.