Photo: Moment RF
New York has secured its position as the richest city globally, boasting a staggering 359,500 millionaires and 60 billionaires, according to a recent study!
However, the Bay Area in California is not far behind, experiencing an 82% surge in its millionaire population over the past decade.
This surge in wealth is attributed to the booming tech industry, combined with the rise in stock market values and increased deal-making activities.
Despite concerns about wealth flight and the impacts of the Covid-19 pandemic, New York's millionaire population has seen a remarkable 48% growth.
This growth has resulted in New Yorkers holding over $3 trillion in wealth, surpassing the GDPs of entire countries like Brazil, Italy, or Canada.