It’s Not New York That Has Most Number Of Dollar Millionaires, It’s This City!

A cool vibe, a certain hefty bank balance, a way of life, something starry about it and the quintessential charm of parking oneself in one of the world’s leading cities! Isn’t this the kind of stuff that takes one to forge leading headlines! You know the globetrotters, the newsmakers, the mayhem makers in party circles and those you come to address with a sense of accomplishment and swagger! The Millionaires, you’d reckon.

Every now and again, there emerges a thought in the minds of those who are preoccupied with life’s struggles and exhausted in making ends meet: just when will I become a millionaire!

The wine tastes even sweeter, the cars seem spunkier, and generally speaking, our lives seem larger than ever before if we become millionaires.

Won’t you agree. We do tend to think of those residing in some of the quintessentially magnanimous world cities such as New York, Tokyo, Paris, Milan, London on these lines. Isn’t it?

But have you come to think, of lately, as to which city houses the most dollar millionaires in the contemporary times.

Actually speaking and perhaps the world’s leading headlines being preoccupied with this particular city might be responsible for it, but there’s a general feeling that city with most dollar millionaires is New York City.

But hey, time to get some corrections or facts rechecked.

It’s no longer New York that has the most number of dollar millionaires, it’s the heart of Her Majesty’s Kingdom: London!

You read that absolutely right.

In usurping the grand New York City, London has now risen to the Numero Uno status of being the city with the maximum dollar millionaires.

And just how did this happen? A recent report published in popular Indian news outlet WION had the following to share:

At least 875,000 people from London are dollar millionaires, ie, they possess asserts worth more than $10,15,812 (£720,000), based on the annual study undertaken of the world’s wealthiest people by Knight Frank – a property consultant entity.

This implies that one out of every 10 people in London is now a dollar millionaire. The data highlights the widening inequality gap, which has become steeper owing to the ongoing COVID-19 pandemic. According to government figures, over 2.5 million people in London are classified as “living in poverty”.

Also Read: Richest Kids In The World With A Net Worth Of Billions

The report adds that 874,354 people in London possess assets like property which amounts to over $1 million, making them “high net worth individuals”.

That being said, it may not be incorrect to say that going forward, you’d move over New York and think of the mesmeric charm of London and its name against adjectives like posh and financial might when you’ll think of dollar millionaires.

Isn’t it?