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Dallasites are always dissing on Houston. They say it's a "trashy hell hole" and they say "Icky, you couldn't pay Me to live there". They are snobby and tend to think they are better. I've always known that there are more wealthy people in H-Town but they just don't go around bragging about it.
Look. I'm sorry but the exceptions granted for the the Bay Area (including all of the Silicon Valley, which by its own right is arbitrarily defined), the wealthy hills area of LA plus parts of Orange County, and Miami Beach (does Miami then also include Fort Lauderdale and wealthy parts Palm Beach County - Boca Raton too?) are simply too glaring to overlook.
Everyone else gets shoehorned into its city proper, but these three cities get special dibs to all of their immediate outlying areas? That, is unfair, cherry-picked, and inconsistent.
Why not call it the Los Angeles Area and Miami Area then? The Bay Area appears as such...? That inconsistency alone drives my OCD nuts.
Take Philadelphia, for example. It has an astronomical amount of high net worth individuals residing only a couple of miles outside of its city proper borders in places like Gladwyne, Villanova, Bryn Mawr, Haverford, and other areas of Montgomery/Chester/Bucks Counties PA. So none of that counts for purposes of this ranking?
What about NYC and the rest of Long Island (the Hamptons)? Or super wealthy Fairfax County CT?
The wealthy areas of DC in Alexandria, as well as Fairfax and Loudon Counties?
What about Barnstable Town MA / Martha's Vineyard / Nantucket as a whole? Small disjointed area due to islands/geography, but super wealthy.
Santa Barbara CA (see above)?
Aspen CO? Vale CO? All of the super wealthy Colorado ski resort hamlets and towns?
Yeah, no. No offense to you OP, I know you are just the messenger so none of this is aimed at you. But this data is just so inconsistently presented. Not apples-to-apples, and certainly not a fair comparison at all.
Honestly. I am willing to bet there is a data collection problem with the study, or any of these wealth studies. Over the years I have seen wild variations in the number of wealthy individuals published by reports of a certain xyz global city. It is difficult to ascertain with accuracy the number of wealthy households. Wealth is opaque, and difficult to measure. Income yes - IRS data is readily available. But wealth?
Many wealthy people have numerous global addresses and are not necessarily domiciled in one place. How can we account for a $50 millionaire who splits their time equally between London, NYC, Los Angeles, and various Caribbean islands?
Do your own research. The figures on high net worth individuals vary wildly by study (there are few), cut-off, year.
I take all wealth studies with a large brain of salt, tbh. I don't think they are quite accurate even if we do make it even by comparing metro areas across the board.
Henley & Partners has put out their latest ranking of world cities by the number of millionaires, centimillionaires and billionaires.
Here is where NA cities placed:
Millionaires($1M+ Net Worth)Growth from 2013-2023
#1 New York------349,500(+48%)
#2 Bay Area------305,700(+82%)
#6 Los Angeles---212,100(+45%)
#12 Chicago------120,500(+22%)
#13 Toronto------106,300(+25%)
#17 Houston------90,900(+70%)
#22 Dallas--------68,600(+75%)
#26 Seattle--------54,200(+140%)
#30 Boston--------42,900(+55%)
#31 Vancouver----41,400(+50%)
#33 Miami---------35,300(+78%)
#35 Austin---------32,700(+110%)
#41 Washington DC-28,300(+75%)
Centimillionaires($100M+ Net Worth)
New York-------744
Bay Area-------675
Los Angeles----496
Chicago---------290
Houston--------258
Toronto---------195
Miami-----------164
Seattle----------130
Dallas-----------125
Boston----------107
Austin------------92
Washington DC--88
Vancouver--------80
Billionaires($1B+ Net Worth)
Bay Area--------68
New York--------60
Los Angeles-----43
Chicago---------24
Houston---------18
Toronto---------18
Dallas-----------15
Miami-----------15
Washington DC--12
Seattle-----------11
Austin------------10
Vancouver-------10
If this is to be believed, the number of billionaires from LA, NYC area and Bay area outnumber the rest of the list combined. (171-133)
Also the same 3 cities as Centimillionaires outnumber the rest by 1915-1529.
If this is to be believed, the number of billionaires from LA, NYC area and Bay area outnumber the rest of the list combined. (171-133)
Also the same 3 cities as Centimillionaires outnumber the rest by 1915-1529.
Yes but the numbers seem to be manipulated towards LA. SF and Miami. Almost like gerrymandering
This is strictly by city limits for most entries except for three of them, and Atlanta is not one of the exceptions and is a city with quite small municipal boundaries that encompasses less than 10% of the area's population.
Jmo, but cities like Atlanta and miami*** (changed)have citizens that are more willing to show their wealth. Here in California, the guy with khaki shorts and sandals driving a late model Toyota could be super wealthy.
Miami is actually not as show offy as advertised. The thing is that the parts of Miami that are that way do it to the extreme. Those are touristy areas and Miami is extremely touristy. So that’s what the tourist sees and that’s what the worlds view of Miami is
However, the vast majority of SoFlo isn’t in that group. But the tourists don’t see the Doral, Pembrook Pines, Opa Locks and so forth. Yet that’s where the majority are
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