#1: New York New York is the wealthiest city in the world—home to 345,600 millionaires with a total private wealth that exceeds $3 trillion. New York is home to many Fortune 500 companies and is the financial heart of the United States, with the New York Stock Exchange and NASDAQ located in the Big Apple.
With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia's wealthiest city.
According to the 2022 Knight Frank Wealth Report, the cities of New York, Tokyo and Paris have become the most popular places to live for billionaires. London and Los Angeles are next. The capital of Great Britain is also recognized as the best city for life and investment.
No suburb in the country features a greater concentration of members of The List – Australia's Richest 250 than Toorak, where Melbourne's wealthiest families have gathered for decades. Think historic looking mansions guarded by large hedges set back from the street to ensure privacy.
5. Which city in Australia has the most Millionaires? The largest city and the sixth overall best place to live in Australia, Sydney, has the highest number of millionaires.
New York City wears the crown as the world's top city with the most millionaires in 2023. Seven of the World's Top 10 cities listed are in countries that host formal investment migration programs and actively encourage foreign direct investment in return for residence or citizenship rights.
New York City was atop the list of the world's wealthiest cities with 340,000 millionaires. San Francisco's Bay Area beat NYC in the list of billionaires with 63. Texas and Florida battled Asia for the fastest-growing amount of high-net-worth individuals.
The UAE is the third-richest country in the world, below Luxembourg at number two and Qatar at number one, with a GDP per capita of $57,744. The bulk of its money comes from the production of goods and provision of services related to petroleum, petrochemicals, aluminium and cement.
Sydney regains the top spot as Australia's largest city for 2021, but Melbourne is close on its heels.
Three of the four biggest clusters of billionaires in the world are classic US destinations for the uberwealthy: New York City, Los Angeles, and the Bay Area, which includes the neighboring tech hubs of San Francisco and Silicon Valley. Nearly 163 billionaires reside in those three hot spots alone.
According to estimates, in the middle of 2021 there were 56 million people worldwide whose assets exceeded one million US dollars, of whom nearly 40% lived in the United States. The total net worth of all millionaires stood at around $158.261 trillion.
Dubai skyline, capital of the United Arab Emirates (the second richest Arab country in 2021).
Economy. China has a GDP per capita of $16,400 as of 2020, while in United Arab Emirates, the GDP per capita is $67,100 as of 2019. In China, 3.6% of adults are unemployed as of 2019.
One route is to take a job at a place where rich, successful people hang out. This could be: golf courses, hotels, resorts, convention centers, places where people have wedding receptions, ski resorts, yacht clubs, etc. Rich people love to have "blue collar buddies" to chat with while they're doing opulent stuff.
Perth is the fourth largest city in Australia. It is also regarded as the capital of Western Australia. The city has the highest number of self-made millionaires in the whole world.
Millionaires Are Made, Not Born
In fact, the majority of millionaires didn't even grow up around a lot of money. According to the survey, 8 out of 10 millionaires come from families at or below middle-income level. Only 2% of millionaires surveyed said they came from an upper-income family.
New South Wales: a diverse economy and high income
Among all the states and territories in Australia, New South Wales is considered the richest state. It has the largest economy, a diverse range of industries, and a higher-than-average income, which contribute to its status as the wealthiest state.
Five of the country's top 10 richest towns are located in Western Australia, according to the latest census data, with Dampier taking the top spot with 22% of its residents earning more than $4,000 per week.
To be considered in Australia's highest percentage of wealth, you must have a total net worth of a staggering US$5.5 million (A$8.26 million).