We currently have a record number of millionaires in the world, who have an estimated combined wealth of over $63.5 trillion. The growing ranks of millionaires and billionaires now hold almost half of global personal wealth. But have you ever wondered which cities are most attractive to the world’s millionaires? RS Components, a multi-million pound company in its own right, has created a content piece that reveals the cities around the world with the most millionaires per square mile.
London has the most millionaires of all the cities with 357,200 of them living in the ‘Big Smoke’. Edinburgh also has a somewhat surprising 276 millionaires per square mile, equalling a total of 28,100 for the capital of Scotland, suggesting that the UK may be a hotspot for those with money.
Here is the list of the top 10 cities with the most millionaires per SQ mile:
|Ranking||City||Country||Total number of millionaires ($1m+)||Number of millionaires per sq mile|
|3||SAN FRANCISCO BAY AREA||US||180,300||3847|
|9||NEW YORK CITY||US||339,200||1113|
However, this may not be the case for much longer. According to analysis by consultancy New World Wealth, the wealthy are leaving the UK for countries such as Australia, Portugal, Switzerland and the US, due to reasons such as high inheritance taxes and Brexit. The research revealed that 4,000 high net worth individuals left the UK last year, reversing the 30 year trend of the UK as a hotspot for millionaires.
These cities are hubs for business and social activities so it’s no surprise that the world’s wealthiest people have decided to settle here. If you were a millionaire, which one of these cities would you choose to live?