New York, U.S. (345,600)
There are more wealthy individuals in NYC than anywhere else in the world. It has a population of 8.6 million people and is considered one of the richest countries in the world. Even though it ranks as one of the wealthiest cities in America, over half its residents are living at or below poverty level, earning less than $25,000 annually.
Private wealth of residents of New York exceeded 3 trillion dollars. That’s significantly more than the combined private wealth in major G-20 countries. With $1.64 trillion, New York has a GDP equivalent to Indonesia, making it one of richest countries in America. It’s not just New York City that contributes to its wealth though; other cities around upstate and surrounding areas contribute significantly as well. Some larger contributions include Albany ($45 billion), Binghamton ($5 billion) and Buffalo ($4 billion). The rest come from smaller towns within 150 miles. While there are plenty wealthy residents throughout New York State, it is also home to a significant amount of impoverished people who struggle to get by on $25,000 or less every year. As is with many other cities on our list, over half its residents live below poverty level.
Tokyo, Japan (304,900)
Tokyo is one of the wealthiest cities in the world because it has a GDP of over $304 billion and it is the richest country on this list.
Tokyo, the country’s capital, ranked second among the rich. Compared to New York, which had a smaller proportion of rich, fewer wealthy Tokyoites have over $10 million in assets. Out of Tokyo’s 7,350 millionaires, there are 263 with more than $100 million, and 12 billionaires.
London, United Kingdom (272,400)
London is one of the wealthiest cities in the world, ranking number 10 on our list. In 2017, London had a gross domestic product (GDP) of $272,400. London has a rich history as well as being home to some of the most popular attractions in Europe including Buckingham Palace and Big Ben.
Singapore, Singapore (249,800)
Singapore is a small country with a big economy, ranking third globally in terms of GDP per capita. The country’s strategic location and robust port make it a major global trade hub. Singapore is also home to many multinational corporations that have set up regional headquarters here, attracted by the city-state’s pro-business environment. Despite its small size, Singapore has consistently been one of the wealthiest nations on earth for decades now.
Chicago, U.S. (160,100)
Chicago is one of the world’s wealthiest cities. The city ranks seventh for GDP, with a total size of $580 billion dollars. For reference, the population density in the Chicago metro area is 1,906 people per square mile. With an average GDP per capita income at $54,095 and an unemployment rate at 7.4% (2014), Chicago’s economy is booming.
San Francisco Bay Area, U.S. (276,400)
The San Francisco Bay Area is ranked #1 on this list, with a total GDP of $276.4 billion. The bay area is home to three big business districts and many smaller ones, which are all connected by a complex network of roads and highways. This makes it possible for people to commute from one district to another without having to go through the city center each time. With a population of 894,000, San Francisco has an average income that is $2.1 million higher than the national average!
There are 276,400 rich people in the San Francisco Bay Area, including Silicon Valley, out of whom 12,890 are multi-millionaires. There are 623 millionaires and 62 billionaires living there.
Los Angeles, U.S. (192,400)
Los Angeles, U.S. is ranked number 10 on this list with a total Gross Domestic Product (GDP) of $192,400 million. Los Angeles is home to Hollywood and a large portion of the world’s entertainment industry.
The city of Los Angeles has a population of over 3.8 million people and is one of the most densely populated areas on Earth with around 13,000 people per square mile.
Beijing, China (131,500)
Beijing is one of the most populous cities on Earth, but it still ranks as one of the wealthiest. The economic hub is home to more than 20 million people, and its GDP per capita is $131,500. Beijing’s economy continues to grow at a rapid pace due to its diverse industries, which include banking and finance, education and research.
As one of China’s three special municipalities, Beijing serves as a regional hub for northern China and Asia. The city is home to leading financial institutions, government organizations, research centers and universities. Most companies operating in Beijing have domestic operations that focus on education and technology. In addition to tourism, consumer spending is one of Beijing’s strongest economic sectors due to its low unemployment rate.
Shanghai, China (130,100)
China’s second most populous city is also its wealthiest. Shanghai has a population of more than 24 million people and is considered to be one of the most livable cities on earth. Because it’s China’s financial center, Shanghai boasts many well-known companies such as Anta Sports Products Company, Industrial and Commercial Bank of China, and China Construction Bank. The Port of Shanghai is also one of the busiest ports in the world with more than 30% growth. Shanghai’s gross domestic product is $632 billion, which makes it higher than any other Chinese province or city and ninth out of all provinces and cities around the world.
Houston, U.S. (132,600)
Houston, Texas is a center for oil and gas production, as well as one of the largest hubs for manufacturing. The city boasts an economy that is larger than those of six other states. Houston ranks fourth among U.S. cities with the most Fortune 500 company headquarters and has a gross metropolitan product about 10 percent larger than Austin’s; its total gross metropolitan product ranks fifth among all U.S. metro areas at $251 billion, according to a study published by Rice University.