Wealth research group Wealth-X has released its latest UHNW Cities report, showing the residential footprint of the world’s top ultra-high net worth (UHNW) individual cities.
Excluding Monaco – which has very high UHNWI density – Geneva has the highest density of super wealthy people per capita in the world. The city is known as the most compact metropolitan area, and also enjoys a concentration of affluence.
Singapore has the second highest concentration, followed by San Jose, the center of Silicon Valley, and the largest city in Northern California.
Mumbai and New Delhi have the lowest concentrations of UHNW of the cities modeled, as their burgeoning populations dilute the effect of the surging affluence seen in many cities in BRIC countries (Brazil, Russia, India, and China – that share the characteristic of ‘newly advanced economic development’).
While New York leads in terms of overall UHNW footprint, London has a similar number of UHNW ‘second homers’ despite a considerably smaller population. Paris, perhaps surprisingly, features as the highest European city after London, Wealth-X said.
Among suburbs and smaller towns, Beverly Hills has the highest overall number of UHNW residents, and Aspen has the highest concentration on a per capita basis, the report showed.
The report takes a geographic analyses of the ultra-wealthy, using either an individual’s primary business or “primary” residential address as a practical method to categorise by location, whether at the city, state, or country level.
This allows the data to avoids complications caused by double-counting, but does not account for the fact that UHNW individuals often have multiple homes and business interests in multiple locations, Wealth-X said.
Ultra-high net worth individuals are defined by Wealth-X as those whose total net worth is higher than $30 million (R400 million).
The graph below shows the top cities by UHNWI footprint
The table below shows top 20 cities by UHNWI density