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Monaco, Geneva, Singapore have highest percentage of ultra-wealthy residents

03-Dec-2017


Fang Block, Mansion Global

 

Two city-states, Monaco and Singapore, as well as Geneva, Switzerland, claimed the top three spots in a ranking of the world’s highly-concentrated cities for ultra-high-net-worth individuals, according to a report Thursday by Wealth X, a global wealth information provider.

In Monaco, one out of every 56 people is ultra-high net worth, those whose assets are worth at least US$30 million, the highest density out of the 30 global cities ranked in The Wealth-X City Residential Index 2017.

Geneva, the global hub for banking and diplomacy, came in second. With an estimated population of 490,000, it has one ultra-high net worth individual out of every 221 residents. There are 210 ultra-high net worth residents who live primarily in the city, in addition to the 2,005 people who own second homes there.

Meanwhile, Singapore has one super-rich resident living among every 707 people.

The index takes into consideration all residential addresses of the ultra-wealthy, discounting their official residence or country of origin.

New York City still has highest concentration of the ultra-wealthy, overall. A total of 14,574 world’s super-rich have their primary homes and/or vacation homes in the Big Apple.

London, Los Angeles, Hong Kong, Singapore and San Francisco are ranked second to sixth in the overall concentration of the ultra wealthy.

Despite a recent surge in the number of billionaires, India’s New Delhi and Mumbai occupied the bottom two spots in the concentration index.


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