Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. Statista. Dublin is the wealthiest city, with a per capita income of $115,094. Media mogul turned politician Michael Bloomberg, founder of Bloomberg, is the . , 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. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis. Values soared as interest rates on loans went down in a sellers market, which made it tougher to find affordable properties. 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. Since 1949, Beijing was considered one of China's most industrial cities. Richest Cities in the World. Additionally, the citys real estate market is known for being expensive, with sky-high property values and rents. E-commerce has seen a boom in China since millions of citizens were locked down in an effort to slow the spread of the coronavirus in January, boosting the fortunes of online retail titans like Colin Huang. The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. 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. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. 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. Quezon City: $1.69 billion. This is a list of cities in the world by gross domestic product (GDP). Florence, Italy - 2.59% Millionaires. Cebu City: $660 million. Lower down the list So, which cities are lower ranked than in previous years? Among Singapores newcomers are gaming tycoons, , cofounders of the online gaming and e-commerce firm Sea; both industries have. Though affordability sounds good at face value, sitting at the bottom of the ranking isnt necessarily a coveted position. New York City: 107 Billionaires. The USA is the only country with a large surface area and population among the highest-ranking nations, ranking eleventh. 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. Top 10 Poorest Countries In The World 1. Beijing, China: $591.374 Billion Beijing is the capital of China and has a population of over 20 million. Both these cities had high inflation and a strong currency. 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. For the first time, revenues from Global 500 companies in Greater China (including Taiwan). Wealthiest cities (amount in billions . Hong Kong is once again the city with the second most billionaires in the world. Furthermore, being a world-class city, Seoul's cost of living is high compared to other cities in Asia, especially in regards to its real estate prices. Hong Kong remains No. A paid subscription is required for full access. Burundi GDP Per Capita: 724 Burundi, located in Central Africa, is the number one poorest country in the world by current figures. 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. L.A. makes good use of both job training programs and development projects. 3. Beyonc, Jay Z and Taylor Swift are just a few of the celebrities who own property in Tribeca. 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. Principal industries which were the engine behind Moscows economy are textile, metallurgy, energy, and chemical. , a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. Being one of Asia's most wealthy countries, South Korea is home to the capital Seoul, which witnessed an 11% increase in its millionaire population between 2019 and 2020, despite facing a global pandemic. [1] The list is limited to the top 50 companies, all of which except Elevance Health have annual revenues exceeding US$140 billion. The list of top 50 richest football clubs in the world ranked by Forbes have been revealed. Moscow. Shipping isnt the only industry which brings revenue into SEZ, its also the sizable industrial parks, high-tech industries and of course, trade. 6 and No. The richest cities in the world are determined by their gross domestic product, or GDP. He is worth $1 billion, becoming the richest actor in the world. 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. Surprisingly, this is the Big Apples first time atop the ranking. Kim Kardashian- $1 billion. - Mappe, Popolazione, Statistiche Demografiche dell'ISTAT", "Total Real Gross Domestic Product for Wichita, KS (MSA)", "Population estimates by selected Non-ABS Structures, 2010-2020", "China: Gungdng (Prefectures, Cities, Districts and Counties) - Population Statistics, Charts and Map", https://en.wikipedia.org/w/index.php?title=List_of_cities_by_GDP&oldid=1142520927, This page was last edited on 2 March 2023, at 21:41. Dallas Number of individuals with a net worth of $5 million or more: 36,515 Percentage of global population: 1.2% 9. This is because they are supposed to get a better idea, Read More When is it OK to Buy a House Site Unseen as an Investor?Continue, You might be thinking of relocating to New Hampshire for work or other reasons. The infographic above uses data from EIU to rank the world most and least expensive cities to live in. 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. Manila: $790 million. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. New York City. The Big Smoke is no stranger to economic prosperity. The city contributes about 30% of goods sold in Russia. More than 80% of Russias billionaires call its capital home, including mining mogul Vladimir Potanin, who is also the richest person in the nation. MacKenzie Scott is an American novelist and philanthropist. However, this megacity is most famous for its thriving entertainment industry, which pumps billions of dollars into the city's (and country's) economy. Leading cities with the most billionaires in 2022 [Graph]. 1. Shibuya Crossing, one of the busiest crosswalks in the world, in Tokyo, Japan Tokyo's wealth is also tied to the Tokyo Stock Exchange (TYO), regarded as one of the largest stock exchanges in the world. This video will compare the top 50 richest people in the world by net worth in 2020. 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 country is entirely landlocked and is surrounded by Rwanda, Tanzania, and the Democratic Republic of Congo. Shanghai. As of 2020, there is an estimated $3 trillion worth of assets and capital in the city. 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. Once considered a major shipping hub to the world, that distinction has been replaced by the service industries, such as financial services. The cannabis business is rather recent, but also encourages financial growth for the city. The Richest Cities are shown below, based on GDP (Gross Domestic Product) data from 2011. Dallas is known to attract innovation, and one look at some of the top companies in Dallas proves it: AT & T, Texas Instruments, Pinnacle Group, Solera and Capital Networks, among others. Lets take a closer look at some of the top-ranking cities making the list. The Private Industry Council works to promote the local economy via job training programs. You need at least a Starter Account to use this feature. Its no surprise that its capital city of Damascus has maintained its position as the worlds cheapest city. 2022 Rankings of Highly Urbanized Cities. Mumbai - City Of Dreams. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. Its wealthiest resident, Ma Huateng, chairman and CEO of Internet media behemoth Tencent Holdings, is the second-richest person in China, after Alibaba cofounder Jack Ma. New York's richest resident, 476 Washington Avenue, former mayor Michael Bloomberg, has a net worth of $45 billion, making him one . Boston-Cambridge-Newton, Massachusetts. In 2019, San Francisco's tourism industry resulted in 86,111 jobs. It is through the electric car maker Tesla and in space by rocket produced by SpaceX. In 2022, cities with strong oil and gas industries like Riyadh, Sharjah, Dubai, Luanda, Abu Dhabi, Doha, and Lagos grew exceptionally. Loudoun County is the richest county in the USA, with an estimated average household income of $ 117,876. 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. In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. 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). Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. Kicking off the list is the charming Italian city of Florence - which is kind of surprising. 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. The headquarters of several cities are also found in Tokyo, which include Honda, Sony, Hitachi, and Mitsubishi. Penthouses in the 30 Park Place complex are currently listed for 10 times as much. 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. Standing as Russia's capital for centuries, the country's national wealth has been building in Moscow since the 1990s after the fall of the Soviet Union. Today, Boston is a center of learning with many stellar educational institutions like MIT and Harvard, which contribute greatly to Bostons economy. Tokyo's wealth is also tied to the Tokyo Stock Exchange (TYO), regarded as one of the largest stock exchanges in the world. New York's richest person and former mayor, Michael Bloomberg, is worth $59 billion. In pre-Covid times, Chicago clocked round 55 million tourists in 2017. Chart. Till 2030, Tokyo city will project to be the top-most populated city on earth. Photo: @Kim Kardashian West. Newcomers from other sectors also joined the ranks, including AI pioneer Daniel Dines and Brooklyn native Jay-Z. It had about 2,000 inhabitants at the time. (((61/33)^(1/15))^10)*33 and (((33/21)^(1/15))^10)*21. Out of the 2,095 members of the 2020 Forbes Worlds Billionaires list, 552 live in just ten cities. Rankings of Cities and Municipalities are based on the sum of their scores on 4 Pillars: Economic Dynamism, Government Efficiency, Infrastructure, Resiliency, and Innovation.Provincial rankings are based on population and income weighted average of the Overall scores of cities and municipalities under a province. Visualizing the Global Share of U.S. Stock Markets. In 2022, the combined wealth of India's 100 richest increased by $25 billion to touch $800 billion. 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. The county seat of Loudoun is in Leesburg, where most administration activities take place. These four cities are home to 228 billionaires. . Billionaire refers to U.S. dollar billionaire. But if this inflation is compounded with a strong national currency, you may live in one of the worlds most expensive cities. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. Elon Musk Elon Musk is a South African-born Canadian-American businessman, investor & the richest person in the world. 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. This infographic uses information from the Henley Global Citizens Report, in partnership with New World Wealth, to rank the worlds wealthiest cities. Apart from the cost of a home, examining how, Read More What is the Cost of Living in New Hampshire?Continue, Mexicos proximity to the US makes it a hugely popular option for American expats and retirees. 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. Get full access to all features within our Business Solutions. Which cities and regions have the biggest concentrations of millionaires around the world, each with a net worth greater than $1 million (USD)? Image Source. Dubai in top 10. The Chinese capitals tally of ten-figure-fortunes rose by six since last year to reach 67 billionaires. When determining the GDP, the UN classifies 3 methods to determine it: City proper, urban area and metropolitan regions.. 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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. I cover the world's richest people and how they made their billions. In particular, the United States claims five of the cities in the top 10, including the very top spot with New York City. Hong Kong is once again the city with the second most billionaires in the world. This city's success is due to its industrial and manufacturing activity, made up of a technology-savvy and highly skilled work force. Many cities in India are densely inhabited, trade between them has improved, and transportation systems have been modernized. Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. But the Nations Valentine has so much more to offer. Geneva, Switzerland - 17.92% Millionaires. 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? For example, Moscow's rich neighborhoods like Rublyovka contain private houses that can cost up to $60 to $80 million! Before the Ukraine invasion, Moscow was the economic hub of Russia. 4. Where are the German and Chinese Cities? After all, its Philadelphias rich history that fuels the tourist trade that brings over 2 million visitors from both the U.S. and foreign countries every year. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. [Online]. Other companies crucial to Seouls economic health include: Kia, Daewoo and Hyundai. 1. As of March 2023, MacKenzie Scott's net worth is estimated to be $33.3billion. Furthermore, 121. This international city is also attractive to domestic and foreign investors alike. 2. A little known fact is that L.A. is the manufacturing center of the country. 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. Five are new billionaires from the finance industry, including private equity wizards Tony Tamer and Steven Klinsky. New York. Tokyo is also a major center for banking and insurance, and is home to many multinational companies like Honda and Sony. What is the Cost of Living in New Hampshire? It has a diverse stable economy ranging from Gas Extraction and Manufacturing, Companies and Enterprise, and Retail Trade. Founded in 1630, Boston is one of our countries oldest cities. The company currently focuses on its four core brands: Cadillac, Chevrolet, GMC and Buick. Business Solutions including all features. Dubai ranks at #6 on the PlanetWare guide, ahead of Singapore, Rome, Istanbul, and Tokyo. A huge part of this development was the influx of multi-national corporations. According to the Hurun Global Rich List 2022, the leading city with the most billionaires in 2022 was Beijing. 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. 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. This year 92 billionaires live in the Big Apple as their primary residence 8 more than a year ago. 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. The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. The Top 25 Cities in the World in 2020. It is the largest urban economy on the planet. 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. 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. When Covid struck, global traveling came to a halt, and for a while Macao even slipped out of the 10 richest nations ranking. March 17, 2022. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. the country's economy as a whole is one of the fastest growing in the world. Atherton, CA (income: $525,324/ bailout: $3.8 million) - With a median home price of. Barcelona, Spain Rome, Italy Madrid, Spain Singapore, Singapore Amsterdam, Netherlands Prague, Czech Los Angeles, USA Chicago, USA San Francisco, USA Berlin, Germany Hong Kong, China Washington, USA Beijing, China Dublin, Ireland Istanbul, Trkiye Las Vegas, USA Milan, Italy Budapest, Hungary Toronto, Canada Sydney, Australia Seoul, South Korea Travel + Leisure. The city employs 36,000 people and is home to some 75, 00 people. The largest economy in states, New York Citys prosperity is rooted in Wall Street. Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. 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. Rising development costs and foreign competition had already, the fortunes of South Koreas pharmaceuticals sector, before coronavirus concerns hit the countrys economy in late February in total, thirteen Seoul-based billionaires dropped off the list. One dropoff is. StartupTalky has compiled an exhaustive list of the top richest people in India for the year 2022. Kuwait (-4) will be the worst loser, followed by The Bahamas (-3) and Iceland (-3). 50 Richest Countries in the World 2020. 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 TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. Various lists of the richest families in the world (excluding royal families or autocratic ruling dynasties) are published internationally, by Forbes as well as other business magazines.. 10. The metropolitan area of Rhine-Ruhr is divided into 3 regions, and each region contributes to the GDP of the entire Rhine-Ruhr metropolitan area. This list is incomplete, as not all companies disclose their information to the general public. Five are new billionaires from the finance industry, including private equity wizards, . 7 and Shanghai and Beijing staying flat at No. Here are the 10 leading cities for the wealthy for 2019. 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. There is a distinction between wealth held by identifiable individual billionaires or a "nuclear family" and the wider notion of an extended family or a historical "dynasty," where the wealth of a . Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. Liz loves the process of researching information, learning new things, and putting into words what others who share her interests might like to read.
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top 50 richest cities in the world 2020