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Location: Watching half my country turn into Gilead
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Prestige does not automatically equal wealth. While they're often linked closely, it's not a given. Wealthy people/cities aren't always prestigious, and prestigious people/cities aren't always wealthy. Vatican City isn't particularly wealthy, but a strong argument can be made that it's the most prestigious state in the world.
As usual, any thread featuring "San Francisco " and Montclair has devolved into a "who has richer billionaires?" shouting match. It's comical, at this point. In the words of the great LL Cool J, "Man made the money, money never made the man." Wealth is just one aspect of prestige. For the sake of this thread, let's start talking about the others.
Prestige is about perception. Which cities do people find safe, sound, and worthy of their investment/money? Those are the cities that garner the most respect i.e. prestige.
Then there is lifestyle. Why is there no cachet of living in San Francisco amongst the global elite? Hmmm?
Its NYC and LA, that's just it. A lot of rich people own second homes in LA and probably don't get counted in a lot of those income statistics. Some have vacation homes there, others chose not to make it their primary residence due to the high California tax. That's in addition to the have their primary residence in LA. If we're talking prestige its the best of the best, not just averages. Few people have access to the most prestigious things. Take neighborhoods for example, the super rich choose NYC and LA (and Miami to an extent}as the place to purchase homes
The top 20 most expensive neighborhoods based on purchases of at least $10 mil
90210 Beverly Hills CA 18
10023 New York, NY 17
10021 New York, NY UES 16
81611 Aspen Co 16
90077 Bel Air CA 12
33139 Miami Beach FL 11
10014 New York NY West Village 10
10028 New York NY UES 10
90265 Malibu CA 10
90049 Brentwood CA 8
10022 New York NY 7
34102 Naples FL 7
92651 Laguna Beach CA 7
93108 Santa Barbara CA 7
10013 New York NY Soho 6
10065 New York NY UES 6
33480 Palm Beach FL 6
94027 Atherton CA 6
33140 Miami Beach FL 5
90272 Pacific Palisades CA 5
You might have be correct about law firms, idk, but as far as banking and finance, San Francisco is the the undisputed financial center of the entire West Coast.
Check out the Vault 100.
Los Angeles
Gibson, Dunn & Crutcher
Quinn Emmanuel
Latham & Watkins (technically an LA firm)
Munger Tolles
Irell & Manella
Sheppard Mullin
Manatt
The 9th Circuit Court of Appeals is headquartered in San Francisco. The 9th is the third most prestigious circuit after the 2nd (NY, NJ, CT) and the D.C. Circuit.
San Francisco also has a Federal Reserve Bank (Los Angeles has a branch of the Federal Reserve Bank of San Francisco). This is the second most important bank after the Federal Reserve Bank of New York.
Prestige does not automatically equal wealth. While they're often linked closely, it's not a given. Wealthy people/cities aren't always prestigious, and prestigious people/cities aren't always wealthy. Vatican City isn't particularly wealthy, but a strong argument can be made that it's the most prestigious state in the world.
As usual, any thread featuring "San Francisco " and Montclair has devolved into a "who has richer billionaires?" shouting match. It's comical, at this point. In the words of the great LL Cool J, "Man made the money, money never made the man." Wealth is just one aspect of prestige. For the sake of this thread, let's start talking about the others.
That's a good point. Who, for example, has the more "prestigious" position in American society?
Beyonce Knowles or Janet Yellen?
Kim Kardashian or Nancy Pelosi?
Donald Trump or John Kerry?
Money and fame aren't necessarily the same as prestige. Being the richest and most famous Reality TV star in history is not the same thing as being the deciding vote on the Supreme Court.
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