World’s billionaires prefer Asia and many of them UAE

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Cities with the Most Millionaires and Billionaires Revealed; Dubai in Top 20

Big cities in Asia now boast with more residing millionaires and billionaires and surprisingly outnumber New York, according to a new report published on Tuesday. The results also show that although Dubai isn’t the home of many millionaires, the city appears at 16th place in the top cities for billionaires ranking.

Do you know where the world’s wealthiest people live? London based wealth consultancy, WealthInsight has released its ranking based on the number of millionaires, multi-millionaires, and billionaires who live in the cities. According to the data gathered for five years, there are twenty cities that have more than 100,000 millionaires, and twenty cities with more than 10 billionaires in the world. Together with San Francisco and Dallas, Dubai comes at No. 16 with 11 billionaires living in the emirate, a statistic that completely disproves the Forbes list of billionaires. Published in March, the ranking in Forbes that caused a lot controversy and fuss, said that there were 7 billionaires in the United Arab Emirates.

Billionaires


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WealthInsight says that the most billionaires live in New York, or to be more precise, Manhattan, with a total of 70 billionaires. Moscow comes second with 64 billionaires, followed by London with 54. Interestingly, Moscow, Istanbul and Mumbai are higher on the billionaire ranking than they are on the millionaire list. Hong Kong, Beijing, Mumbai, Istanbul, Shanghai, Paris and Los Angeles are all in the top ten.

Millionaires

Tokyo tops the list with 461,000 millionaires, surprisingly ahead of New York which has 389,000. WealthInsight has also analysed the proportion of each country’s millionaires in each city. While New York accounts for 7 percent of all US millionaires, Tokyo is the home of 21 percent of Japan millionaires. London comes third, followed by Paris and Frankfurt.

Multi-millionaires

Multi-millionaires are those having more than $30 million and their favourite city to live in is London with 4,224 multi-millionaires. Tokyo comes second, followed by Singapore and New York.

Cities with most billionaires, 2012

1. New York (Manhattan) 70

2. Moscow 64

3. London 54

4. Hong Kong 40

5. Beijing 29

6. Mumbai 26

7. Istanbul 24

8. Shanghai 23

9. Paris 22

10. Los Angeles 19

11. Shenzhen 19

12. Chicago 15

13. Singapore 13

14. Tokyo 12

15. Guangzhou 12

16. San Francisco 11

17. Dallas 11

18. Dubai 11

19. Houston 10

20. Sao Paulo 10

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