The city that never sleeps is also the city with the most money.
New York City is the wealthiest city on the planet – home to the most billionaires (city) with a total private wealth exceeding $3 trillion (£2.39 trillion).
As the epicentre of US finance and home to the world’s two largest stock exchanges, New York boasts 101 billionaires according to Forbes.
The city also has 340,000 millionaires, including 724 centi-millionaires, according to the New York Post.
New York City’s private wealth exceeds the private wealth held in most G20 countries.
Former Mayor Michael Bloomberg ranked first among the billionaire city dwellers and 12th in the world, with a net worth of $82 billion (£71.249 bn).
According to Forbes, Julia Koch of Koch Industries, the second largest private conglomerate in the US, has a worth of $60 billion (£52.133 bn) and a global ranking of 21.
Other billionaires living in the Big Apple include:
- Stephen Schwarzman: Worth $34.8 billion (£27.81 bn)
- Alain & Gerard Wertheimer: Worth $31.2 billion each (£24.94 bn)
- Leonard Lauder: Worth $23.1 billion (£18.46 bn)
- Rupert Murdoch: Worth $23.1 billion (£18.46 bn)
- Donald Newhouse: Worth $14.4 billion (£11.51 bn)
- Israel Englander: Worth $11.5 billion (£9.19 bn)
- Chase Coleman: Worth $10.3 billion (£8.23 bn)
Although New York City has always been known for its expensive real estate, a small section of Midtown Manhattan called Billionaire’s Row has been developed for the uber-wealthy.
Billionaire’s Row refers to a strip of luxury skyscrapers throughout 57th Street between Columbus Circle and Park Avenue.
Many of these buildings are among the tallest and most expensive in the world, towering over 1,000 feet (304.8 m) in height.
Although there aren’t official requirements for an individual to be a billionaire to live in these ultra-luxury estates, they are so expensive that it would be difficult for anyone without that type of net worth to afford it.
Listing prices for these units range from $4.2 million (£3.36 bn) for a studio to over $100 million (£79.93 bn) for a penthouse apartment.
Other luxury regions of New York City include:
- West Village
- Greenwich Village
- Cobble Hill
- Upper East Side
- North Sutton Area
- Financial District
- Battery Park
- Carnegie Hill
- Fresh Kills
With Billionaires’ Row for real estate, Wall Street for the stock exchange, and Fifth Avenue for fashion, it’s no wonder billionaires choose to live in the Big Apple.
Although the city itself has 101 billionaires, many ultra-rich live in neighbouring Long Island and Connecticut.
Adding Greenwich, Great Neck, Sands Point and Old Westbury to NYC brings the billionaire state total to a whopping 120.
The list of cities with the most billionaires is followed by Hong Kong, Beijing, Shanghai, London, Moscow, Mumbai, Shenzen, Singapore, Delhi, and San Francisco.
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