Trump's propaganda proclaims over and over again that New York is a dirty place, disgusting even, full of rats, plagued by pickpockets, criminals, ultimately uninhabitable. Come on, hell. It must be that the rich like hell, that they find it more interesting and a better investment than many other supposed paradises.
This is the only way to understand that, after the pandemic leak and despite the apocalyptic speeches of the Fox chain, the Big Apple is the richest city in the world, or that accumulates the most wealth, above other metropolises such as Tokyo, London or Hong Kong.
New York achieves that place at the top for having the highest accumulation of millionaires, according to a Henley study
"The right to live, work, study and invest in the main international centers of wealth such as New York, London, Singapore, Sydney and Hong Kong can be secured through residence through investments," Juerg Steffen, director of the company, said in a statement. h executive
“Being able to relocate yourself, your family, your business to a more favorable city, or having the option to choose from multiple different residences throughout the world is an increasingly important aspect of estate planning and an international inheritance for private clients,” Steffen continued.
While this study talks about choosing based on estate planning, another work arose almost in parallel, referring to other New Yorkers, those who have no other option than to live as they can. In this other document, commissioned by the Ford Foundation, it is indicated that half of New York's working-age households do not earn enough money to cover basic expenses.
This data represents an important leap compared to the study carried out in 2021, when it was determined that these households in trouble represented 36%. This increase is explained by the drastic increase in prices, especially for housing and childcare services.
By 2023, as of this report, a family of four needs to earn at least $100,000 annually to break even anywhere in the Big Apple. This figure is significantly higher than the median family income in the city of $70,000, as reported by the US Census.
This analysis looks at the “true cost of living”, a measure that reflects the local cost and size of the home.
These indicators are totally different in the document by H
Behind this metropolis is Tokyo, with 290,300 millionaires; the California Bay Area, tech empire, with 285,000; London with 258,000, a loss of 155 in the last decade due to Brexit, Singapore with 240,100, while Los Angeles is sixth with 205,400.
Hong Kong (129,500), Beijing (128,200), Shanghai (127,200) and Sydney (126,900) complete the list of the ten cities with the most millionaires. If you focus only on cities that are home to the super-rich, in this case the Bay Area, with San Francisco as its axis, ranks first, with 63, while New York moves to second place with 58, while Beijing is in third place, with 43.
Among the 60 main cities, always with data collected up to last December, are the two large Spanish capitals. Madrid is in 37th place, with 29,000 millionaires and a decline of 9% in the period between 2012 and 2022. For its part, Barcelona ranks 58th with 13,300, and a loss of 7% in those ten years.
What is clear in the conjugation of these two reports is that New York, proving once again that pandemic obituaries were premature, continues to be a magnet for the lucky and fortune seekers, however expensive the city may be.
