With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Home to the New York Stock Exchange (NYSE) and the famous American street of Wall Street, New York is regarded as one of the world's wealthiest cities. 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. Before the Ukraine invasion, Moscow was the economic hub of Russia. American retail corporation Walmart has been the world's largest company by revenue since 2014. Singapore is home to 249,800 millionaires making it the second richest city in Asia after Tokyo. The PPP value of a city (or country) is commonly used by macroeconomic analysts and economists, as its a popular metric to determine a city's standard of living and economic prosperity. He worked to revolutionize transportation on earth. Most such agglomerations are economically, socially and culturally dominated by one city at their centre. San Francisco also has the highest median household income in the country. She was the wife of Jeff Bezos, founder of Amazon. Though residents are keen on investing in the real estate market, younger generations are finding it difficult to afford a home in Seoul due to the rising cost of real estate property and rising economic insecurity. New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. He also praises the seafood, arts scene and welcoming atmosphere, though other critics call Seattle residents overly materialistic. Lastly, London is home to several of the most well-known Fortune Global 500 firms, including the Lloyds Banking Group, Prudential, J. Sainsbury, BP, Tesco, and Vodafone Group, amongst others. This may not be surprising, considering the U.S. is the world's largest wealth marketit holds over 29% of the world's wealth. Ahmedabad - Textile Hub Of India. StartupTalky has compiled an exhaustive list of the top richest people in India for the year 2022. Singapores richest resident. The richest person in New York City is Bloomberg LP founder and former Mayor, $1 billion of his $48 billion fortune on a failed presidential campaign before dropping out in March to endorse Joe Biden. In Hong Kong, 9,530 ultra wealthy individuals resided, followed by Tokyo with 8,345 lived. This California city is home to prominent billionaires like Mark Zuckerberg, Laurene Powell Jobs, Brian Chesky, and Jack Dorsey, with many of these billionaires possessing assets worth over $8 billion USD. Loudoun County. Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. About 300 cities have population over 1,00,000. Ranked: The Worlds Richest Billionaires Over the Past 10 Years, All of the Worlds Money and Markets in One Visualization (2022), The U.S. and China Account for Half the Worlds Household Wealth, Charting the Relationship Between Wealth and Happiness, by Country, Mapped: The Wealthiest Billionaire in Each U.S. State in 2022, Poll: Inflation is the Top Financial Concern for Americans, From New York to Damascus, this infographic uses EIU cost of living data to rank the worlds most and least expensive cities to live in. 2. As a Premium user you get access to the detailed source references and background information about this statistic. A little known fact is that L.A. is the manufacturing center of the country. 9 last year. The Top 5 Cities in Mexico. U.S. Inflation: How Much Have Prices Increased? A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. $516.5. Newcomers from other sectors also joined the ranks, including AI pioneer Daniel Dines and Brooklyn native Jay-Z. San Francisco has a rich economic history,,one that includes the wealth generated by the California Gold Rush. In total, these 30 people control. Major metropolitan areas contributing at least 2.5% of world GDP. New York City: 107 Billionaires. Today, Boston is a center of learning with many stellar educational institutions like MIT and Harvard, which contribute greatly to Bostons economy. 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. The 150 richest cities in the world by GDP in 2020 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. Looking to the future, companies and high-net-worth individuals will inevitably move where they are treated best. [Online]. Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. If that is the case, knowing its cost of living is vital. Los Angeles is a city that takes great strides to encourage economic growth. The billionaire's rank, nationality, and source of his or her wealth is listed. Makati City: $4.48 billion. India is the world's second-most populous country, with several large cities and densely inhabited areas. I cover the world's richest people and how they made their billions. Some of them have topped the rankings for decades, while some others are less well-known. These are of very low quality and should be avoided. Rounding out the top three cities is Tokyo, with $2.5 trillion in private wealth. Kuwait (-4) will be the worst loser, followed by The Bahamas (-3) and Iceland (-3). Home to thousands of millionaires, wealthy Parisian neighborhoods include the 7th Arrondissement, the Boulogne-Billancourt, Saint-Cloud, and Neuilly-sur-Seine. Otherwise, Los Angeles enjoys wealth from other industries related to biosciences, trade, information, transportation, and aerospace. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. Kolkata- GDP $150.1 Billion. The decade-long conflict in Syria weakened the Syrian pound, led to a spiraling inflation and fuel shortages, and further collapsed its economy. Countries that want to attract wealthy individuals will have to apply tax-friendly policies along with other factors such as quality of life, safety, education, and access to amenities that ultra-wealthy residents value. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. 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. In fact, the average annualy income in these neighborhoods is typically over 100,000. Shanghai. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Visualizing the Global Share of U.S. Stock Markets. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. There are many benefits to living in an iconic city like New York or Singapore, but the amenities and exclusivity can come at a high cost. Tokyo may not be as wealthy as New York, but this megacity remains one of the richest cities in Asia. Surat - City Of Sun. Source: Forbes Music: Beethoven 5th Symphony In terms of asset management, FinTech, and ESG investment, Tokyos continued growth as the worlds most foremost economies appears secured. Atherton, CA (income: $525,324/ bailout: $3.8 million) - With a median home price of. You can only download this statistic as a Premium user. 10. Washington, District of Columbia: $578.985 Billion, 4. Learn more about how Statista can support your business. Delhi City. 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. In 2019, the Northern California city attracted 26.2 million visitors who spent around $10.3 billion USD in the city. Access to this and all other statistics on 80,000 topics from, Show sources information The international city of romance boasts an economically wealthy status. As soon as this statistic is updated, you will immediately be notified via e-mail. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. Pune - Oxford Of The East. Two of those in Beijing are new billionaires this year: Larry Xiangdong Chen of GSX Techedu and Liu Yachao of TAL Education Group, both of whom own companies that provide online education and after-school tutoring for students. 13. Sweeping sunsets, desert landscape, and breathtaking canyonsthese are the things that most everyone think of when someone says Arizona. In 2022, cities with strong oil and gas industries like Riyadh, Sharjah, Dubai, Luanda, Abu Dhabi, Doha, and Lagos grew exceptionally. The four cities that made the top 50 in 2019 but did not make . Even though the city was riddled with the effects of the pandemic, Job growth occurred with another 5,700 jobs added. The city contributes about 30% of goods sold in Russia. By 2025, the city's GDP would have [] The Richest Cities are shown below, based on GDP (Gross Domestic Product) data from 2011. The city by the bay has five fewer billionaires than a year ago in part because fortunes fell below $1 billion for former Uber CEO, . Kim Kardashian- $1 billion. 1 with $13.9 billion. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis. Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. Out of the 2,095 members of the 2020 Forbes Worlds Billionaires list, 552 live in just ten cities. Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. . While Shenzhens export-led manufacturers have struggled 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. Boston-Cambridge-Newton, Massachusetts. - 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. 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. Those include, , who heads Indias largest paint company, Asian Paints, and the, , who control adhesives and sealants maker Pidilite Industries. Additionally, the world's major companies are headquartered in Seoul, which include Samsung, Hyundai, LG, and Kookmin Bank. The city employs 36,000 people and is home to some 75, 00 people. More than 80% of Russias, call its capital home, including mining mogul. 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. London is ranked second with $2.7 billion in private wealth. Though London had a net gain of one new billionaire this year, this city that appeals to the worlds elite actually has five new billionaire residents who hail from outside the United Kingdom, including Russian brothers, , founders of online gaming firm Playrix; and, , who inherited part of the fortune of her late father, Brazilian healthcare tycoon, in an effort to slow the spread of the coronavirus in January, boosting the fortunes of online retail titans like, . Being China's largest city, Shanghai also houses on of the world's largest ports, due to its proximity to the Yangtze River Delta. Beyonc, Jay Z and Taylor Swift are just a few of the celebrities who own property in Tribeca. Accessed March 04, 2023. https://www.statista.com/statistics/299494/billionaires-top-cities/, Hurun Research Institute. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). [1] The list is limited to the top 50 companies, all of which except Elevance Health have annual revenues exceeding US$140 billion. , 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. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. Rising development costs and foreign competition had already felled 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. Does your team make it in the top fifty richest soccer clubs in 2022? Paris is also home to several Fortune Global 500 companies such as, BNP Paribas, Peugeot, CNP Assurances, SNCF, Vivendi and more. The Top 5 Cities in Mexico in 2020. Being the largest city of the country, Mumbai is extensively . Ranked: Americas Best Places to Work in 2023, Mapped: GDP Growth Forecasts by Country, in 2023, Charted: Teslas Unrivaled Profit Margins, Ranked: The Top Online Music Services in the U.S. by Monthly Users. On a related note, there is a sizeable population of secondary homeowners in London. The Periodic Table of Commodity Returns (2013-2022), Visualizing 25 Years of Lithium Production, by Country, Ranked: The Worlds Largest Copper Producers, All the Metals We Mined in 2021: Visualized, Chart: Automakers Adoption of Fuel-Saving Technologies, Explainer: What to Know About the Ohio Train Derailment, A Visual Crash Course on Geothermal Energy. 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Tokyo has 39 million residents which are 50% more than any other urban area of the world. 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.. 1. When Covid struck, global traveling came to a halt, and for a while Macao even slipped out of the 10 richest nations ranking. London: 63 Billionaires Since Last Year: +7 Total Net Worth: $316.1 Billion Richest Resident: Len Blavatnik, $32 Billion Japans largest city is home to the Tokyo Stock Exchange, which is one of the largest stock exchanges in Asia by market capitalization. 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. Home to about 393,000 millionaires, Seoul's economy is rooted in manufacturing, financial services, and transportation. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. The top ten richest cities in the world based on private wealth include: The country is entirely landlocked and is surrounded by Rwanda, Tanzania, and the Democratic Republic of Congo. Though approximately 23% of Beijing's GDP is linked to its manufacturing sector, over 80% of the city's wealth is tied to the service sector. Other Shanghai entrepreneurs are newcomers to the list, including Wang Jilei, who draws his wealth from express delivery firm ZTO Express, and Chen Rui, whose anime and entertainment site Bilibili saw an uptick in demand after it gave residents of locked down areas free access to premium content. Among the top 10 richest economies, Ireland has the fastest-growing economy with 13.04%. 2 on the list, but the city recorded a net loss of eight billionaire residents. In the U.S., a few tax-friendly states like Texas and Florida became home to American companies moving their head offices there. Singapore broke into the top 10, replacing Seoul, which was No. 1. Another crucial element is the neighborhood of Zhongguancun. In other words, the city produces poor copies of everything from designer fashions to scooters. Most of the cities in our list have a similar history in terms of long-standing economical power (Tokyo, Paris, London), while others seem to have gained most of their wealth in the past 2 to 3 decades (San Francisco.). In some U.S. cities, however, more than half of all households earn $70,000-plus. If youre looking, Read More The 20 Cheapest Places to Buy Land in the U.S. 2022Continue. The city with one of the most expensive real estate markets worldwide, Hong Kong ranked fourth in this list, followed by Los Angeles, which moved up from its ninth rank in 2021. Pasig City: $710 million. The city by the bay has five fewer billionaires than a year ago in part because fortunes fell below $1 billion for former Uber CEO Ryan Graves and Pinterest cofounder Ben Silbermann.