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Coastal US Cities dominate the Top 10 Ranking of World Cities by the Density of Very High Net Worth Individuals, $5M+ *this is by MSA
my pic
So 1 in every 66 San Jose residents is a multimillionaire, which isnt surprising per se, but I'm equally impressed by the other US cities in this list.
Right, but just owning a shack in Sunnyvale for 10 years gives you more than $1 million net worth. The tech bros created a bunch of wealthy people but the run up in real estate is what created the vast majority of the paper multimillionaires. You see a bunch of that in all the high cost of living areas. High income people will pay huge sums to not have a soul-crushing commute so they have bid up the prices on fairly scarce real estate.
That isn’t much of an answer. When the United States was 50% of the global economy, Chicago was globally important. The United States is now below 20% of world GDP and dropping. Chicago has a number of domestically important companies. Globally, it doesn’t have many. It temporarily has Boeing though that has 0% chance of lasting much longer. I wouldn’t call Walgreens owning Boots internationally all that significant. McDonalds?
Why would someone from Shanghai or Frankfurt care about Chicago? They might connect at O’Hare, maybe. I don’t see the “major player globally in business, economics, finance, etc”. It’s the center of commerce for the Midwest. The Midwest has been on a steep decline for decades while the rest of the world has been growing.
You are losing me here...
Your first statement is representative of America losing its dominance, not a Chicago or the Midwest specific phenomenon.
Second, Chicago consistently ranks among the worlds elite economic and financial centers, on par with Shanghai, and ahead of Frankfurt, (an odd and irrelevant comment). It has one of the largest economies in the world, and disingenuous to claim you don't see how Chicago is a major global player in business, economics, finance, etc. Does anyone in Frankfurt or Shanghai give a damn about any American city besides New York and maybe LA? Your clear contempt for Chicago is shining brightly.
I didn't add this before, but do you find your beloved Boston more internationally relevant or important than Chicago?
Last edited by cpomp; 05-08-2021 at 09:47 AM..
Reason: edit
That isn’t much of an answer. When the United States was 50% of the global economy, Chicago was globally important. The United States is now below 20% of world GDP and dropping. Chicago has a number of domestically important companies. Globally, it doesn’t have many. It temporarily has Boeing though that has 0% chance of lasting much longer. I wouldn’t call Walgreens owning Boots internationally all that significant. McDonalds?
Why would someone from Shanghai or Frankfurt care about Chicago? They might connect at O’Hare, maybe. I don’t see the “major player globally in business, economics, finance, etc”. It’s the center of commerce for the Midwest. The Midwest has been on a steep decline for decades while the rest of the world has been growing.
You are trying to hard to give a city and region as if - Last Rites (Catholic death-bed prayers).
I posted this in the Global Elite thread, and it is also perfect for Chicago's position YET in the world. We all know more Asian cities making inroads to catch up in Global Rank. Our cities ALL have to SPLIT a piece of the pie and steal even corporate might from another to boast more. Clearly, Chicago and the Midwest will have continued competition from our booming darling cities and Asian fast rising cities. European cities also are maintaining their positions but at risk. US cities having to SPLIT the Corporate might pie and share more and more has us do our own damage from within in no city is not with risk of lowering their Global status.
Anyway, this is two well renown and respected Data sights for GLOBAL Rank. I used. Sadly, all our cities even mighty NYC is at risk of other cities in the world and our Nation by our own disunity by politics hurting our lead also.
Quote:
Originally Posted by NoHyping
Global rank it has a place for business reasons especially
From AC Kearney Global cities list and rank 2019 (not sure why I could not find the 2020 list at least. I think the top 10 though stayed the same as listed here? Might be London at #1 and NYC #2 for 2020 though?
List of to 10 global cities.
1 ) NYC
2 ) London
3 ) Paris
4 ) Tokyo
5 ) Hong Kong
6 ) Singapore
7 ) Los Angeles 8 ) Chicago
9 ) Beijing
10) Washington DC
List by Resonance Consultancy.
1 ) London
2 ) NYC
3 ) Paris
4 ) Moscow
5 ) Tokyo
6 ) Dubai
7 ) Singapore
8 ) Barcelona
9 ) Los Angeles
10) Madrid
11) Rome 12) Chicago
13) Toronto
14) San Francisco
15) Abu Dhabi
16) St Petersburg
17) Amsterdam
18) Berlin
19) Prague
12) Washington DC
On AC Kearney Global Rankings.
- The Kearney 2019 Global Cities report reveals which cities are the world’s leaders and why as well as which cities are the frontrunners for the future. This report also highlights factors that organizations--from multinational corporations to non-governmental organizations--should consider as they decide where and why to invest.
Criteria of Resonance Consultancy
- Resonance Consultancy which advises on real estate, tourism and economic development, scored 100 cities around the world that have populations higher than one million residents using 25 ranking factors groups into six categories. The factors include diversity, weather, the number of parks and tourist attractions, and the number of social media hashtags and check-ins. For the first time this year in the 2021 ranking, the cities were also ranked on new criteria such as unemployment, the rate of COVID-19 infections (as of July) and income disparity.
Right, but just owning a shack in Sunnyvale for 10 years gives you more than $1 million net worth. The tech bros created a bunch of wealthy people but the run up in real estate is what created the vast majority of the paper multimillionaires. You see a bunch of that in all the high cost of living areas. High income people will pay huge sums to not have a soul-crushing commute so they have bid up the prices on fairly scarce real estate.
Well, there are 3 tiers to Wealth-X's research and shack-owners in Sunnyvale most likely fall under the lowest tier.
Ultra High Net Worth Individuals($30 Million+)
Very High Net Worth Individuals($5 Million-$30 Million)
High Net Worth Individuals($1 Million-$5 Million)
So the Sunnyvale shack owner is most likely in the $1-$5 Million range if their house is the only source of their asset wealth.
Otherwise, the Very High Net Worth individuals are $5,000,000- $29,999,999 and most likely have substantial investments besides just their home.
Very High Net Worth($5M-$30M) Individuals With a
Primary or Secondary Home by US Metro Area, 2021
182,395 New York
103,345 Los Angeles
75,560 San Francisco
62,195 Dallas
55,070 Atlanta
51,715 Boston
46,655 Washington DC
45,545 Miami
40,740 San Jose
37,160 Seattle
^As a single geography, the Bay Area is 2nd to New York in the concentration of VHNWIs.
That isn’t much of an answer. When the United States was 50% of the global economy, Chicago was globally important. The United States is now below 20% of world GDP and dropping. Chicago has a number of domestically important companies. Globally, it doesn’t have many. It temporarily has Boeing though that has 0% chance of lasting much longer. I wouldn’t call Walgreens owning Boots internationally all that significant. McDonalds?
Why would someone from Shanghai or Frankfurt care about Chicago? They might connect at O’Hare, maybe. I don’t see the “major player globally in business, economics, finance, etc”. It’s the center of commerce for the Midwest. The Midwest has been on a steep decline for decades while the rest of the world has been growing.
If you look at rankings, by those highly qualified, they disagree with you. Chicago is ranked, fairly highly. Seriously, no finance in Chicago...you don't have a clue.
If you look at rankings, by those highly qualified, they disagree with you. Chicago is ranked, fairly highly. Seriously, no finance in Chicago...you don't have a clue.
Yup. I can't tell if he really doesn't have a clue or just doesn't like certain cities and therefore makes things up.
Your first statement is representative of America losing its dominance, not a Chicago or the Midwest specific phenomenon.
Second, Chicago consistently ranks among the worlds elite economic and financial centers, on par with Shanghai, and ahead of Frankfurt, (another odd and irrelevant comment). It has one of the largest economies in the world, and disingenuous to claim you don't see how Chicago is a major global player in business, economics, finance, etc. Does anyone in Frankfurt or Shanghai give a damn about any American city besides New York and maybe LA? Your clear contempt for Chicago is shining very brightly.
I didn't add this before, but do you find your beloved Boston more internally relevant or important than Chicago?
And cue the posts about "MuH hIgHeR eDuCaTiOn!!!" and "MuH CoViD VaCcInNes!!!" and "MuH fOrEiGn BoRn PeOplEs!!!"
EDIT: One has a massive inferiority complex if they use every opportunity to try and convince you how great their city is and denigrate other cities.
Last edited by citidata18; 05-08-2021 at 11:16 AM..
Well, there are 3 tiers to Wealth-X's research and shack-owners in Sunnyvale most likely fall under the lowest tier.
Ultra High Net Worth Individuals($30 Million+)
Very High Net Worth Individuals($5 Million-$30 Million)
High Net Worth Individuals($1 Million-$5 Million)
So the Sunnyvale shack owner is most likely in the $1-$5 Million range if their house is the only source of their asset wealth.
Otherwise, the Very High Net Worth individuals are $5,000,000- $29,999,999 and most likely have substantial investments besides just their home.
Very High Net Worth($5M-$30M) Individuals With a
Primary or Secondary Home by US Metro Area, 2021
182,395 New York
103,345 Los Angeles
75,560 San Francisco
62,195 Dallas
55,070 Atlanta
51,715 Boston
46,655 Washington DC
45,545 Miami
40,740 San Jose
37,160 Seattle
^As a single geography, the Bay Area is 2nd to New York in the concentration of VHNWIs.
I find it so ironic, the wealth you love to "showcase" in the San Francisco area, exists right alongside the Third World conditions in the city. Quite a contrast. I make this point, because extreme wealth doesn't make a place a utopia, and "elitism" isn't, necessarily, admired by many.
I wonder how the "elitists' feel about being called by the term "elitist"? Do some wear the label with pride or is it something they feel guilty and kind've embarrassed about.? Or do most deny they are "elitists'"?
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