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New York City Tops List as World's Wealthiest Metropolis

According to the World's Wealthiest Cities Report 2023 by Henley & Partners, New York City has emerged as the world's wealthiest city, solidifying its position as the financial hub of the USA.
New York skyscrapers with many cars in front of it

The report reveals that the city is home to an impressive number of millionaires, centi-millionaires, and billionaires, with its iconic boroughs housing over 340,000 millionaires, 724 centi-millionaires, and 58 billionaires.

Additionally, New York City boasts the two largest stock exchanges globally, namely the NYSE and the Nasdaq, along with exclusive residential areas like Fifth Avenue and Billionaires' Row in Manhattan. The report analyzed data from 97 affluent locations worldwide, establishing New York City as the epitome of wealth and prosperity.

The report highlights the dominance of the United States in terms of affluent cities, with a total of 10 American cities ranking among the top 50. China follows closely behind with five cities, while Australia ranks third with four cities.

Although New York City takes the lead as the wealthiest city overall, the San Francisco Bay Area stands out with 63 billionaires, the highest number worldwide. However, in terms of growth, Austin, Texas emerges as the frontrunner, experiencing an astounding 102% increase in high-net-worth individuals since 2012, surpassing all other cities globally. Hangzhou, China follows closely with impressive growth rates.

On the other hand, Moscow witnessed a significant decline of 44% in its affluent population compared to a decade ago, ranking at the bottom of the list. St. Petersburg, Russia also experienced a notable decrease of 38% in the number of high-net-worth individuals since 2012.


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