NYC is officially the richest city in the world, report says

STATEN ISLAND, N.Y. — There are several cities throughout the world that are considered hubs of prosperity, attracting residents with their pockets of enterprise and expansive stretches of luxe living. But which metropolis houses the most millionaires and embodies the true spirit of investable wealth? According to a new study, NYC is officially the richest city in the world.

“The Big Apple is the financial center of the USA, and the wealthiest city in the world by several measures,” noted new research from Henley & Partners, which took several factors into account when developing the ranking of wealthiest cities worldwide. “The city features some of the world’s most exclusive residential streets, including Fifth Avenue in Manhattan … [and] New York City is also home to the world’s two largest stock exchanges by market cap — the NYSE and the Nasdaq. Perhaps most notably, the total wealth held by the city’s residents exceeds $3 trillion — higher than that held in most major G20 countries.”

According to the survey, New York houses close to 350,000 millionaires, a 48% increase from just a decade ago, and at least 744 centi-millionaires — people with more than $100 million of investable wealth. There are also a reported 60 billionaires living in NYC.

Other U.S. cities that made the top 10 include the San Francisco Bay Area and Los Angeles. Here’s a look at 10 of the richest cities in the world, according to Henley & Partners:

1. New York
2. The Bay Area
3. Tokyo
4. Singapore
5. London
6. Los Angeles
7. Paris
8. Sydney
9. Hong Kong
10. Beijing