Cities With The Highest Numbers Of Super-Rich: Wealth-X

Super-rich and looking for a place to call home? Luckily there's a short-list of possible locations.

The homes of Ultra High Net Worth (UHNWs) individuals, or people who are worth over $30 million, often cluster around specific cities, according to a new report from Wealth-X, a company that assists private wealth firms, luxury brands, and not-for-profit organizations find potential clients.

There are currently 57,860 UHNW individuals in the U.S., Wealth-X finds, and the number of millionaires worldwide reportedly increased by 22 percent last year, indicating that those clusters of wealth might only get more dense.

The true center of the super-rich remains New York City. With 7,270 super-rich residents, the Big Apple has nearly double the number ultra high net worth households than the second-place city, Los Angeles, which is home to 4,350 members of the elite club.

"Certain geographic clusters generate and attract wealth,” Wealth-X Co-Founder David Friedman said in a press release. "While Occupy Wall Street protesters may direct their anger at wealthy, New York bankers, the more relevant question is, ‘What about New York, or any of the other cities, has engendered unique ecosystems of education, risk capital and human capital that result in prosperity[?]'"

The geographic concentration of wealth in New York may be one of the reasons why the movement start in the heart of the city's financial district. Out of a number of grievances, income inequality has surfaced as a dominant issue at Occupy Wall Street. That could be because the world's millionaires now control 35.6 percent of global wealth, even though they account for less than 1 percent of its population, according to Credit Suisse's Global Wealth Report.

Last year, for example, Houston, which ranks sixth on the Wealth-X list, increased it's number of millionaires by 9.6 percent, 24/7 Wall St. reports. The year before that, 2008 to 2009, San Jose's millionaire population increased by 24.5 percent.

Here are the cities with the most ultra high net worth individuals, according to Wealth-X:

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Comments

[helicalbevel]

02:17 PM on 12/06/2011

This envy is pitiful.

[Al Schrader]

06:19 AM on 12/06/2011

The ten billion dollar Large Hadron Collider was built to study the graviton particle I discovered.
Graviton technology led to the invention of the graviton matrix. The current market for graviton matrix materials exceeds 100 billion USD. I'm the only one who posses graviton matrix technology.

Living in a large city is not the good life. Cities are noisy, crowded, dirty, congested, smelly places. Many are working to improve this, including me. It's not an easy "fix"....Al-

[Whistlejackett]

01:11 AM on 12/06/2011

Where is Beijing?

[Raiderthree]

04:22 PM on 12/05/2011

I think the ultra wealthy in California needs to distribute the wealth and bring up the downtrodden of their state.

[Glenn Shank]

11:13 AM on 11/02/2011

i wouldn't mind a suburb of L.A. ....if i could afford it.

[GirlInNYC]

11:10 PM on 10/25/2011

New York is where I'd rather stay. I get allergic smelling hay. I just adore the penthouse view. Darling, I love ya but give me Park Avenue.

[FancyAmerican]

05:11 PM on 10/24/2011

Look at all of those liberal cities!

Houston isn't as liberal as NYC but it has an evil lesbian as its mayor now! Oh noes!

And Dallas...it's pretty moderate I guess.

But yeah, LOOK AT ALL OF THEM EVIL SOCIALISTS! Oh gosh!

[Glenn Shank]

11:14 AM on 11/02/2011

^ this guy...

[munki]

11:38 AM on 10/23/2011

NYC who else can afford those bricks and motar....

[nyjjc]

10:44 PM on 10/21/2011

Ah yes, but Cuomo, the fake Democrat, keeps saying that he can't extend the millionaires tax because they'll all leave...

Wake up libs - it's not just the Repubs that have sold out. It's Dems too.

[MovieGuy2010]

04:11 PM on 10/21/2011

How funny, all the conservatives are "But But, those are LIBERAL CITIES, so all the people you want to tax are there, huh, yuk yuk yuk...

First, who in their right mind with money would live in a conservative city? Sheesh, get a clue.

Rich people want art, culture, clean environments, facilities, infrastructure.

They don't have to cling to the Guns and Bibles and live in some dirt poor hell hole in Mississippi, because THEY are winning!

It's you conservatives that are getting ground into the dust, but are so bamboozled to not see who is going the grinding....

They NEED you to keep them in special rules land, there are NOT enough of them to control the game without millions of duped minions

http://www.goodreads.com/book/show/865936.Deer_Hunting_with_Jesus

That book will explain it all you to conservatives, then, if your head clears enough

http://search.barnesandnoble.com/Perfectly-Legal/David-Cay-Johnston/e/9781591840695

[onlyaquarterdelusional]

01:56 PM on 10/26/2011

I haven't read Perfectly Legal but I strongly recommend "Free Lunch" by David Cay Johnson. It should be a must read to anyone calling themselves Republican and against giving the poor any handouts. The rich get more handouts than anyone else.

[opmik75]

02:53 PM on 10/21/2011

A LOT of rich conservatives live in liberal cities. Donald Trump is based out of New York. Arnold Schwarzenegger is out of California. Etc.

[MovieGuy2010]

03:47 PM on 10/21/2011

Of course.

If you are rich, why the heck would you live in a conservative city, if you have any choice about it?

If you conservatives would learn about personal hygiene, maybe the smell wouldn't be so gawd-awful.

[TechYes]

03:07 PM on 10/24/2011

LOL! Trump is a joke and an opportunist. If conservatives want to claim, you're welcome to him! But I doubt a lot of conservatives would agree that Schwarzenegger is one of them.

[cilantro518]

02:25 PM on 10/21/2011

Philadelphia, Phoenix, San Antonio, San Diego, and San Jose are top ten cities that are notably absent from the list. Most notably included are Boston (#22 in size), San Francisco (#13), Seattle (#23), Washington (#24), and Atlanta (#40).

[MrPragmatic]

11:45 PM on 10/24/2011

Yes but you also have to look at the metro area. Phoenix proper is the 6th largest city but it's metro area is only the 14th largest metro area. Whereas SF proper is only ranked 13 but its metro area is the 6th largest. Besides, have you ever been to Phoenix? Yuk.

[Laxsmi de Potrero]

02:40 PM on 10/25/2011

what is your point? it's about money not size.

[norkas]

08:00 AM on 10/21/2011

Why are we angry at millionaires?

I have never had anger for people who succeeded in business and created a fortune. Often i see this anger and know as many of you do it is envy and jealously that is coming from bloggers.

A person works hard has an idea and executes it very well. Often he hires people and the business expands part of his reward is wealth.

If you are upset about people getting rich committing fraud then you are sooooo correct because certain wall street firms have been doing this for years and getting a free pass.

Please look at the start up company where are youth came up with great ideas and have now made millions and hired people.

When you comment about millionaires be focused not Jealous.

[MovieGuy2010]

03:57 PM on 10/21/2011

I STILL admire Intel and many of the companies I had contact with in my early business career?

They actually MADE something, and the USA benefited.

I guess what you admire is Bain Capital, the company that made Mitt Romney wealthy.

They did it by acquiring companies on the cheap, selling off the assets, laying off the people.

When possible, sending the work offshore.

We just admire different things?

I admire innovation, hard work and success the benifits everyone

You just think anyone with money is better then the rest of us and deserve those special rules, eh?

http://search.barnesandnoble.com/Perfectly-Legal/David-Cay-Johnston/e/9781591840695

[demsrsilly]

11:11 PM on 10/23/2011

How did soros, the great funder of liberal causes, make his billions?

[InActionMan]

05:53 PM on 12/05/2011

The problem with 21st Century Ultra Wealthy is that fewer and fewer of them are what I like to call "Builders and Makers".

If you look at the Forbes 400:

http://www.forbes.com/forbes-400/

- About 1/3 of them inherited their wealth.

- 1/3 are hedge fund managers who make their money by adding very little value to the greater society using accounting tricks and gaming the system.

-Another 1/6 are oil and gas men. Our society needs energy but, most of these guys are lobbying like crazy against any attempt at alternative or clean energy.

-The final 1/6 are actually people that came up with an innovative product or service and built it into a business that created new jobs.

People admire Builders / Makers not trust fund babies and book cooking Banksters.

[oilfield]

10:58 PM on 10/20/2011

its liberal around all of the money because dems are good at spending other peoples money...and there is plenty around. without the money, its hard to spend it.

[wonderYrednow]

12:00 PM on 10/21/2011

you are so 'Right', its like crazy.... slippery, but crazy.

[Matt Miraglia]

01:45 PM on 10/21/2011

Your comment seems to have no discernable meaning.

[littlebrowngirl]

08:34 PM on 10/20/2011

Not that surprising.