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It is official: the Large Apple is the Richie Wealthy capital of the world, with extra millionaires than Cincinnati has residents.

New York has held on to its title because the world’s wealthiest metropolis in 2022, in line with the rankings devised by funding migration consultancy Henley & Companions. However whereas the town was reportedly dwelling to 340,000 millionaires final yr, even objectively rich New Yorkers have been feeling the monetary pinch of residing within the millionaire’s playground that by no means sleeps.

Financial Fairytale of New York

Round 4 million pigeons additionally reside in NYC in accordance to New York-New Jersey Wildlife Elimination, which might imply the town’s millionaire inhabitants is round 8.5% of its pigeon inhabitants. That is a reasonably excessive density and a feather in NYC’s cap given it is shedding floor in another demographic areas. Earlier this yr, it misplaced the highest spot on the Bureau of Statistics’ rankings of complete jobs to Florida.

In the meantime, on the marginally less-wealthy-but-still-pretty-wealthy finish of the spectrum, all’s not solely properly:

• An evaluation this week by SmartAsset discovered that, by way of buying energy and adjusting for the native price of residing, NYC employees on six-figure salaries have to make $300,000 with a purpose to really feel like they’re making $100,000.
• SmartAsset’s evaluation advised somebody making $125,000 in Houston, Texas would have the identical buying energy as somebody making $312,000 in NYC.

Whereas NYC has probably the most millionaires, the Bay Space has probably the most billionaires in line with Henley & Companions. In case you have been questioning, San Francisco has related issues with relative buying energy, in line with SmartAsset.

Billionaires Chew Again: Whereas 2022 noticed the world’s ten richest people lose a collective $575 billion as shares plunged and ominous mutterings a couple of potential recession did the rounds, 2023 has seen the planet’s ten wealthiest billionaires regain $213 billion in internet value, so simply one other $362 billion to go. No biggie.