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New York tops the list as cities with the most millionaires

New York City, a global beacon of wealth and prosperity, has seen a remarkable surge in the number of millionaires calling the city home over the past decade.

Despite concerns of a potential exodus of the wealthy to other states, a recent report by Henley & Partners reveals that New York City boasts more than $3 trillion in combined wealth, with nearly 350,000 millionaires residing within its borders.

This staggering figure equates to approximately one in every 24 residents having a net worth of at least seven figures, a significant increase from the one in 36 ratio observed in 2013. The city's enduring allure for the ultra-rich is further evidenced by the presence of 60 billionaires and 744 individuals with investable wealth exceeding $100 million. As New York City continues to attract and retain a substantial portion of the world's wealthiest individuals, it solidifies its position as a global hub for finance, culture, and innovation.

Source: Bloomberg

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