The world's richest cities laid bare - London takes fifth place

The wealthiness survey called the World’s Wealthiest Cities Report 2024 showed London has a singular fig of highly affluent people

The world's richest cities person been confirmed, with London making the apical 10. A study by fiscal analysts tracked planetary wealthiness migration trends from astir the world to find wherever the richest radical were living. According to the fiscal study, titled the World’s Wealthiest Cities Report 2024, London has a singular 227,000 millionaires. But it besides showed those with much wealth including 370 centi-millionaires - those with wealthiness of £100 cardinal - and an astonishing 35 billionaires who unrecorded there.

The UK superior was pipped to the station by New York, the Bay Area, which includes San Francisco and Silicon Valley, successful summation to Tokyo and Singapore. The north-eastern US authorities took the rubric of the world’s richest metropolis successful the Henley and Partners study which notched-up a fig of 349,500 millionaires and an astonishing 60 billionaires.

London, however, was not the lone UK metropolis to marque the planetary rankings. Manchester besides recovered itself connected the list, but not successful the Top 10. It was ranked 50th richest metropolis successful the satellite with 23,200 millionaires and an awesome 7 billionaires

The world’s 10 richest cities successful 2024

1. New York

2. The Bay Area

3. Tokyo

4. Singapore

5. London

6. Los Angeles

7. Paris

8. Sydney

9. Hong Kong

10. Beijing

Travel bible Time Out was not amazed by the London listing and said its presumption was shown by the precocious fig of cash-rich residents who wanted to marque the metropolis their home. It said: "Given the precocious outgo of things successful London these days, and our astonishing offerings successful food, drink, theatre etc., it’s not truthful astonishing that the mega affluent privation to unrecorded here."

The publication, however, recognised determination was a monolithic 'wealth divide' It added: "The UK superior mightiness beryllium a playground for the highly wealthy, with caller skyscrapers and luxury level developments going up each day, but galore people, and businesses, are struggling. For example, much than 3,000 clubs, pubs and bars person closed successful London since the pandemic, and restaurants are feeling the compression too."

The Mirror earlier reported connected different survey which recovered a billionaire is either moving oregon the main shareholder of much than a 3rd of the world ’s apical 50 corporations. Those businesses person a banal marketplace worth of £10trillion.

The world’s richest 1% of radical had much wealthiness than the bottommost 95% enactment together, according to study from Oxfam. Analysis besides highlighted the power of billionaires specified arsenic Mark Zuckerberg, laminitis of Facebook proprietor Meta, and Amazon tycoon Jeff Bezos. implicit the planetary economy.

Oxfam warned efforts to respond to captious planetary challenges, including the clime situation and persistent poorness and inequality, are being “undermined by the ultra-wealthy and mega-corporations fueling inequality wrong and betwixt countries.”

Amitabh Behar, Oxfam International’s enforcement director, claimed the interaction of the United Nations to tackle specified issues “is progressively feeling diminished successful a satellite successful which billionaires are calling the shots.”