New York City sees millionaire population soar 48 percent in 10 years
New York City saw its population of millionaires jump by 48 percent in a decade, according to a new report.
The Big Apple still leads the U.S. — and the world — among wealthy cities. It has nearly 350,000 millionaires and 60 billionaires, according to the USA Wealth Report from an investment migration consultancy firm Henley & Partners and New World Wealth.
New York also has the most centi-millionaires in the country with 744.
The San Francisco Bay Area came in second place — and in fact has more billionaires than New York. The Bay Area has more than 305,000 millionaires, 675 centi-millionaires and 68 billionaires.
San Francisco’s millionaire growth contributed to its rise in the ranking, amassing 82 percent growth over the past 10 years.
Los Angeles, Chicago and Houston round up the top five list in the U.S.
Los Angeles has more than 212,000 millionaires, 496 centi-millionaires and 43 billionaires. Fourth-ranked Chicago has more than 120,000 millionaires, 290 centi-millionaires and 24 billionaires.
Austin, ranked 10th, has experienced the largest millionaire growth on the list with 110 percent over the past decade, now counting 33,000 of them, along with having 92 centi-millionaires and 10 billionaires.
The report examined cities with more than 25,000 resident millionaires; it used figures from December.