In Discussions, Money, Wealth

Where do the richest people in the world live?

Ultra-High Net Worth Individuals or (UHNW) folks have assets of more than $30 million, and they live in these cities as of 2014:

  1. London
  2. New York
  3. Singapore
  4. Hong Kong
  5. Geneva
  6. Shanghai
  7. Miami
  8. Dubai
  9. Beijing
  10. Paris

London-England-Photography-Big-Ben-Site-Travel

It is predicted that in 10 years, these will be the richest cities in the world:

  1. New York
  2. London
  3. Hong Kong
  4. Singapore
  5. Shanghai
  6. Beijing
  7. Dubai
  8. Miami
  9. Geneva
  10. Mumbai

Photograph-Travel-NYC-New-York-City-USA-Times-Square-Energy-People-Busy

…and the 5 fastest growing city hotspots are:

  1. Sao Paulo
  2. Istanbul
  3. Abu Dhabi
  4. Mumbai
  5. Sydney

Interestingly, in North America, 28% of UHNWI’s own a home, and it represents 28% of their net worth, owning on average, 2.4 homes:

http://www.thewealthreport.net/uhnwi-attitudes-survey/default.aspx#sthash.6BDVhoIi.dpbs

 

They’re considering buying another home in 2014 (just over 1/5th of them), and 15% want to relocate for a better quality of life, and are more likely to want to move to the United Kingdom.

Via: The Wealth Report


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Sherry of Save. Spend. Splurge.

Millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using TheBudgetingTool.com. Since then, I have paid my $600K home in cash (my half was $300K), my $180K casr in cash, worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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11 Comments

  1. The Phroogal Jason

    I’m curious in not San Francisco in that list cause it seems like one must be worth $30MM in order to live here.

    Reply
  2. Michelle

    I’m intrigued by the fact that I’ve spent time in 5 of those cities and haven’t met a rich man in any of them. I think I’m doing something wrong. Will ponder that.

    Reply
    1. save. spend. splurge.

      HAHAHAH!!! They’re all hiding in their private homes perhaps? 🙂

      Reply
  3. SP

    Miami is nice and all, but I’m surprised to see it on the list. I wonder why? Like, what is the industry that drives it up, or the appeal? Compared to the others, it seems like a much las global city.

    Reply
    1. save. spend. splurge.

      The great humid weather? I think it might also be the 0% state taxes, it’s full of golf courses, and that beach is to die for.. When I lived there, they had this amazing island (private of course) that had these massive houses on the way to the beach…

      Reply
  4. jane savers @ solving the money puzzle

    Could you figure out where the extremely rich single middle aged men live and post that? I am considering a move.

    Reply
    1. save. spend. splurge.

      HAH! New York 🙂 Full of bachelors, I hear.

      Reply
  5. Mark Ross

    Interesting article! I’m just shocked Mumbai is included on that list. It’s not that I hate India, but I just think there are better places to live than there.

    Reply
    1. save. spend. splurge.

      @Mark Ross: Well I doubt it’s foreigners living there, it’s probably uber rich Indians in steel and so on that are there 🙂

      Reply
  6. Charles@gettingarichlife

    9 out of 10 places I would like to visit and ask how the hell do people afford to live here? No desire for Mumbai though.

    Reply
    1. save. spend. splurge.

      Miami was nice though 🙂 Just too hot and humid for me. Mumbai is a no-go.

      Reply

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