Reports of New York City’s demise have been exaggerated. It’s still home to the richest people on the planet.
The city has the biggest number of individual homeowners with an ultra-high net worth, which is defined as $30 million or above, according to Barron’s.
A new study titled, “Spotlight on the World’s Leading Markets for the Wealthy: Residential Real Estate 2021,” found that 24,660 members of the $30 million and higher net worth group had either a primary or secondary residence in New York as of December 2020.
Coming in second, according to the report, was Los Angeles, which is home to 16,295 such people. LA was followed by London ( with 14,485 ultra-high-net-worth residents), Hong Kong (14,235) and Paris (7,035.)
New York may have the biggest number of the ultra-wealthy but the prize for the highest density of the mega-rich belongs to Monaco, where one in 29 residents meet the study’s standards. Monaco is followed closely behind by Aspen, Colorado.