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Still keep surprising me that Mumbai holds 26 billionaires, how did they became so rich in such a poor country?
It's an extremely large country and there are always people who are at the top of the socioeconomic ladder. India has many businesses. Think just how rich the leaders of telecommunications and oil companies must be.
I don't know how recent this list really is, but Forbes provides a short bio of how each billionaire earns his fortune:
Well yes, indian population conatins like 60% people living in poverty, which is very sad because leadership is corrupt to the soul level and corruption and lies are like as common as breathing here. All the billionaires you can see in list are mates of leaders and part the money with them to make money, hence become billionaires. apart from this almost 1% of indian population is in extreme riches and like 40% is middle class, rest poor.
Paris/Frankfurt more millionaires than Hong Kong/Shanghai,
Munich/Rome more than Los Angeles/Chicago,
Houston more than San Francisco
Frankfurt more multi-millionaires than Paris,
Singapore more than New York,
Toronto/Munich more than Shanghai/Los Angeles,
Rome/Sydney more than Moscow/Chicago,
Houston more than San Francisco
Mumbai/Istanbul more billionaires than Shanghai/Los Angeles,
Shenzhen more than Chicago,
Singapore more than Tokyo,
Guangzhou more than Dubai,
Dallas more than Sao Paulo
Toronto has gone through a decade of some of the most impressive skyscraper and real estate development growth in the world (and is still booming). Last count it was still ahead of NYC for most highrise construction in the Western world (not just North America - the western world)... What this means is the value of Real Estate in Toronto is very high and it has created a lot of wealthy people! 1 in every 53 citizens in Toronto is a millionaire. Compared to many cities on the list, Toronto isn't that big in terms of population either.
Toronto has gone through a decade of some of the most impressive skyscraper and real estate development growth in the world (and is still booming). Last count it was still ahead of NYC for most highrise construction in the Western world (not just North America - the western world)... What this means is the value of Real Estate in Toronto is very high and it has created a lot of wealthy people! 1 in every 53 citizens in Toronto is a millionaire. Compared to many cities on the list, Toronto isn't that big in terms of population either.
I've seen you post similar things several times now. It seems like Toronto residents have an inferiority complex due to being looked over because of New York City. I'm not sure why slightly higher growth in highrise construction matters...it's not like Toronto will ever in a million years catch New York City. They are on a completely different level, Toronto is probably more akin to Chicago than it is to New York.
Last edited by ColdAilment; 04-28-2014 at 05:46 PM..
I've seen you post similar things several times now. It seems like Toronto residents have an inferiority complex due to be looked over because of New York City. I'm not sure why slightly higher growth in highrise construction matters...it's not like Toronto will ever in a million years catch New York City. They are on a completely different level, Toronto is probably more akin to Chicago than it is to New York.
Are you angry or something? I'm providing a realistic explanation to account for why Toronto is high on the list of having a lot of millionaires and multimillionaires.. There is absolutely no doubt the Real Estate boom of the last decade in Toronto accounts for ALOT of new wealth in the city. That is all.. I posted the same thing in CvC in RESPONSE to someone else making the claim that Toronto was less wealthy than Mexico City which was an entirely debateable claim - plus even if Mex City did have a bit more absolute wealth - it has 2.5X more people whilst not even close to having 2.5X more wealth! One of the posters in here was surprised T.O had more multimillionaires than L.A and I provided as honest a reason for that as I could - REAL ESTATE VALUES!!!
As for your cheap shot about Toronto never becoming like NYC in a million years.. I actually largely agree and never made the claim - I did make a factual claim that Toronto has been constructing more skyscrapers than NYC in recent times (that is not debateable that is factual and more of those high priced condo's means more people who have money!).. Toronto however, still only has 1/3 of NYC's total highrise count and will most likely never beat it and I never made the claim. That is why NYC has more wealthy people than Toronto.. More people, overall development through history more important economy etc etc
Is it an inferiority complex or is it that some Americans just HATE that someone makes a factual claim about a Canadian city? What should I say oh i'm sorry that Toronto is so wealthy it has to be a mistake we only have igloo's here or that our wealth is an illusion to make you feel better?
I also agree that Toronto is more akin to Chicago and i'm happy for that, Chicago is an amazing city.. I don't need to attack other places to provide information or get angry like some do I think you should analyze your own reactions as opposed to drawing any inferiority complex conclusions about other posters...
Are you angry or something? I'm providing a realistic explanation to account for why Toronto is high on the list of having a lot of millionaires and multimillionaires.. There is absolutely no doubt the Real Estate boom of the last decade in Toronto accounts for ALOT of new wealth in the city. That is all.. I posted the same thing in CvC in RESPONSE to someone else making the claim that Toronto was less wealthy than Mexico City.
As for you cheap shot about Toronto never becoming like NYC in a million years.. I actually largely agree and never made the claim - I did make a factual claim that Toronto has been constructing more skyscraper than NYC in recent times (that is not debateable that is fact!).. Toronto however, still only has 1/3 of NYC's total highrise count and will most likely never beat it and I never made the claim.
Is it an inferiority complex or is it that some Americans just HATE that someone makes a factual claim about a Canadian city? I also agree that Toronto is more akin to Chicago and i'm happy for that, Chicago is an amazing city.. I don't need to attack other places to provide information or get angry like some do
Not angry, just not sure why you are comparing to Toronto to NYC every chance you get. Seems pointless to me.
I'm glad you agree. I would be willing to be one of the main reasons that NYC does not have the same skyscraper growth is that they don't have any more land to build them, Toronto is not confined to an island, makes sense.
Chicago is a great city, I love it. Though I have never visited Toronto I have heard great things about it. It's a very impressive looking city also, I am aware that many movies that take place in NYC will be filmed in Toronto, since its skyline somewhat resembes NYC in terms of density.
Anyway, not saying you aren't stating facts, but it seems like you're always batting for Toronto and sometimes pumping it up to be better than it is. Weren't you the one that suggested Toronto has a "larger global portfolio" than the likes of Washington D.C.?
Not angry, just not sure why you are comparing to Toronto to NYC every chance you get. Seems pointless to me.
Anyway, not saying you aren't stating facts, but it seems like you're always batting for Toronto and sometimes pumping it up to be better than it is. Weren't you the one that suggested Toronto has a "larger global portfolio" than the likes of Washington D.C.?
I was providing perspective on how much skyscraper growth and general real estate development is going on in Toronto and if Chicago, Boston or Baton Rouge was number two in terms of general skyscraper development in recent years (in the western world) I would have cited that city but it just happens to be NYC hence why I cited it. Aside from that I most always don't compare Toronto to NYC because Its pointless.. Having said that, when you get the growth like Toronto has had in one of the worlds wealthiest nations (developed nations) you are going to get a lot of new wealth.. This shouldn't be shocking at all really but obviously NYC has more wealthy people than Toronto and the list confirms what we all know doesn't it and it doesn't bother me in the least even though for some unknown reasons(s) you think it does..
You seem to like to cite me for things I don't claim however and yet you continue with the whole D.C thing.. To clarify to you and others since you are publicizing my view for me... I said that In some ways specifically in economic terms Toronto has more global influence than D.C (much larger financials sector, stock exchange, manufacturing industry and creative arts industry etc) D.C.. On the other hand obviously is more influential in the political, Institutional and media clout realms and I said that!... I didn't say absolutely that Toronto was more influential.. I'm sorry if my views are more than just Black or White or one way or the other at all cost.
Anyway GAWC also supports the fact that Toronto is a global city as it ranks it as an Alpha and D.C as an Alpha minus so.....GAWC is a British study btw NOT Canadian lol......
Anyway I don't think i'm pumping up Toronto more than some in here like to hammer it down into something less than it is to appease individuals who for whatever reason can't stand that. Not sure what is so threatening about Toronto lol. Perhaps it is because T.O is more brash than the stereotypically timid Canadian personification that we should be constantly at awe of the mighty elephant beside us.
Still keep surprising me that Mumbai holds 26 billionaires, how did they became so rich in such a poor country?
India rich has always been incredibly rich. In addition over 100 years ago very wealthy Indians did occupy whole floors in Europe most luxurious hotels. Yet the very rich in India has always been a very, very small minority compared to the rest of the people in India. .
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I think you should analyze your own reactions as opposed to drawing any inferiority complex conclusions about other posters...
