Tokyo contains most millionaires

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Tokyo contains the most millionaires

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Tokyo contains the most millionaires, while London is the city with the highest number of multi-millionaires---defined as people with over $30m each, according to a report by London-based wealth consultancy WealthInsight. For the fattest of the fat cats, though, look to New York, where 70 billionaires have made their home.

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Out of 20 cities worldwide with the highest number of millionaires, three are located in China. Beijing ranks 6th with 213,000 millionaires, Hong Kong came at 8th (187,000) and Shanghai at 9th (166,000).

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For the number of multi-millionaires, there are 2,560 of them living in Hong Kong (5th), 1,318 in Beijing (10th), 1,255 in Taipei(15th), and 1,028 in Shanghai (18th).

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Hong Kong continues to migrate up the ranking when looking at the number of billionaires only, ranking 4th with 40 of those people living there. A total of four mainland Chinese cities made it into the top 20 list, including Beijing (29 billionaires), Shanghai(23), Shenzhen (19), and Guangzhou(12).

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When it comes to country level, the US boasts the most millionaires with 5,231,000 in 2012. But the country to watch according to the wealth consultancy is China. They predict that it will overtake Japan and Germany to become the second largest wealth market in the world with 3.3 million millionaires by 2020.

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(Source: myechinese.com)

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