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Where In The World Are The Millionaires Hiding?

Tyler Durden's picture


More millionaires live in Tokyo than in any other city, according to a new report from WealthInsight, beating out New York and London. The Economist notes that the city, which boasts 460,700 individuals with net assets of $1m or more (excluding their primary residences), is home to over a fifth of Japan's millionaires. However, when it comes to real money (since who can get by on a mere million dollars worth of wealth these days), London tops the list with 4,224 multi-millionaires. But when it comes to the real BSDs, New York City and Moscow rule the world with 70 and 64 billionaires respectively wondering the streets. As The Economist also notes, should you wish to rub shoulders with the rich, heading to Tokyo, London, New York, or Moscow would be a mistake - it is Frankfurt that has the highest millionaires per capita (with 75 out of every 1000 people having at least a seven figure net worth).






Source: The Economist


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Fri, 05/10/2013 - 15:58 | Link to Comment Temporalist
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In Zimbabwe we're all trillionaires!

Fri, 05/10/2013 - 16:07 | Link to Comment JohnnyBriefcase
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You mean the radioactive wasteland Tokyo? That Tokyo?

Fri, 05/10/2013 - 16:11 | Link to Comment freewolf7
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Try the seafood specials.

Fri, 05/10/2013 - 16:16 | Link to Comment rajat_bhatia
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I bet all gold bugs here are millionaires.. After all their gold is worth $20,000 an ounce , isn't it?

Fri, 05/10/2013 - 16:23 | Link to Comment mayhem_korner
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Not all "gold bugs" are millionaires, not all millionaires are "gold bugs", and some are both.  But the ones who are gold bugs will ultimately fare better than those who aren't.

Edit: If gold and silver deliveries were interrupted, I wouldn't part with an ounce for $20K.

Fri, 05/10/2013 - 16:26 | Link to Comment rajat_bhatia
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Fri, 05/10/2013 - 16:35 | Link to Comment mayhem_korner
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You realize that there are folks here that bought gold pre 1974 when it was <$100/oz and didn't sell it when it hit $1,900.  That would be a higher ratio than the one between the current price and the you postulated with your "joke". 

You're funny until you're not.

Fri, 05/10/2013 - 16:43 | Link to Comment cifo
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Wealth does not consist in the accumulation of goods, but in the reduction of necessities.

Fri, 05/10/2013 - 16:45 | Link to Comment mayhem_korner
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I would say "reclassification" of necessities, Mr. Thoreau.

Fri, 05/10/2013 - 16:46 | Link to Comment GoinFawr
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So one is wealthier if one kills off all their dependents? That's cold man.

Fri, 05/10/2013 - 19:03 | Link to Comment HyperinflatmyNutts
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You Are just an ASSHOLE!!!!  get a life and get the fuck off of ZH..

Fri, 05/10/2013 - 16:17 | Link to Comment DoChenRollingBearing
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A million dollars in very expensive Tokyo is not worth as much as a million in most of the other cities.  I find the differences between the millionaire, mutilmillionaire and billionaire distribution differences between cities to be interesting.

Fri, 05/10/2013 - 16:32 | Link to Comment mirac
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and soon to be QUAKE ravaged Tokyo...

Fri, 05/10/2013 - 20:51 | Link to Comment Buck Johnson
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Yep, that Tokyo which will soon be a thing of the past when the govt. isn't able to cover up the radiation issue anymore. 

Fri, 05/10/2013 - 16:36 | Link to Comment The Proletariat
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$5.25 (plus free shipping) is all it takes be a trillionaire....

Fri, 05/10/2013 - 15:59 | Link to Comment The Master
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Addresses please?  Inquiring minds would like to know...

Fri, 05/10/2013 - 16:04 | Link to Comment Manthong
Fri, 05/10/2013 - 16:04 | Link to Comment LawsofPhysics
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I hear that everyone's a trillonaire in Zimbabwe!  Damn it, a day late and a trillion short.

Fri, 05/10/2013 - 16:07 | Link to Comment GoinFawr
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Ours is not to reason why, ours is but to pry and pry.

Fri, 05/10/2013 - 16:06 | Link to Comment debtor of last ...
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They don't live there. It's just a p.o. box to avoid taxes.

Fri, 05/10/2013 - 16:06 | Link to Comment azzhatter
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Do we have enough lamp posts?

Fri, 05/10/2013 - 16:08 | Link to Comment Saint Pitbull
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Don't laugh - pretty soon anyone with a part-time job flippin veggie-burgers at McBloomberg's is going to be a millionaire. 

Thank the Bernanke.

Fri, 05/10/2013 - 16:08 | Link to Comment rsnoble
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Filthy rich and live in a radioactive pit?  Proof money doesn't=brains.

Fri, 05/10/2013 - 16:08 | Link to Comment Fuku Ben
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The island cities with the tax havens have the most but they haven't been Switzerlanded yet

The global tyrants and criminals need somewhere to stash the cash

Fri, 05/10/2013 - 16:11 | Link to Comment knukles
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Same reason there's been no Fed audit.

Fri, 05/10/2013 - 16:10 | Link to Comment Hulk
Hulk's picture

Sorry, but having a million bucks ain't worth bragging about (thus the quiet), especially after taxes...

Fri, 05/10/2013 - 19:43 | Link to Comment max2205
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You have to be very stupid to be a billionaire or millionaire and live in Chicago. Awake up dubasses

Fri, 05/10/2013 - 16:13 | Link to Comment Unpopular Truth
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Frankfurt? Could the lineage of these be traced to the nazi's who "inherited" the jewish wealth?

Fri, 05/10/2013 - 21:05 | Link to Comment Diogenes
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Since German money was marked to 0 in 1945, no.

Fri, 05/10/2013 - 16:21 | Link to Comment Spitzer
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So this means people who are worth a million or more in assets with no debt ?

I thought there would be a lot more.

Fri, 05/10/2013 - 16:24 | Link to Comment mayhem_korner
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Chart says "net assets of $1million or more".  Says nothing about debt level.

Fri, 05/10/2013 - 16:32 | Link to Comment GoinFawr
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But are they marked to market?

Fri, 05/10/2013 - 16:36 | Link to Comment mayhem_korner
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Mine are.

Fri, 05/10/2013 - 16:40 | Link to Comment GoinFawr
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Any Banque

Fri, 05/10/2013 - 16:52 | Link to Comment Ghordius
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A lot of them are in the range of 2-5m with 1-3m debt, often for two houses (one work, one vacation, an odd studio/cabin)

But those statistics are used/made by wealth management research for financials, so "net" means "merket/investable/bankable" for them

and yet... they are very few of them. and their numbers are dictated by power law distribution as Pareto found out

20% owns 80%, and if you segment it this law contines to apply, to the point where the joke is that at every table 5 people sit, one of them would be four times richer than all the others. increase the size of the table, the differences between the extremes increase (power law)

the top of the pyramid is the fishes that swim in the global pond, and so reach there their potential. no wonder they think globalization is good, btw, it makes them grow, too, particularly since they have an immense need of diversification (read about giants at FOFOA, it's funnily put)

close a country to commerce, and they deflate, adapting to the local pond if you want

goldfishes, not yeast, @LawsOfPhysics ;-)

Fri, 05/10/2013 - 16:22 | Link to Comment azengrcat
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Billionaires want to live in Chitcago?  Stunned

Fri, 05/10/2013 - 16:26 | Link to Comment max2205
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Will they pay buy ins when their bank goes under and they have moar than 250k in 4 bank accounts

Fri, 05/10/2013 - 17:08 | Link to Comment Z'
Z&#039;'s picture

They will be given advance notice and conduits to pull funds through foreign branches.  The template works for them.

Fri, 05/10/2013 - 16:26 | Link to Comment Carnegie_IB
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so Austin or Coto de Caza did not make the cut.

Fri, 05/10/2013 - 16:29 | Link to Comment Divine Wind
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Wealth is not measured by what you spend, but by what you accumulate.

I would venture a guess that there are probably many many more millionaires than included in these figures.

They are the wise ones who keep their mouths shut, carefully control their assets and live what appear to be fairly normal, middle-class lives.

Fri, 05/10/2013 - 17:45 | Link to Comment Z_End
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More true than you realize.

Fri, 05/10/2013 - 18:51 | Link to Comment GeorgeHayduke
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I agree. I know for certain there are a lot of millionaires spread out across the so-called fly over states on farms, ranches and in small towns who don't give a shit about ever living in, or even visiting, any of the cities listed above.

Fri, 05/10/2013 - 16:30 | Link to Comment RafterManFMJ
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In my neighborhood you're considered wealthy if you have a pot to piss in.

Fri, 05/10/2013 - 16:31 | Link to Comment digalert
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Fri, 05/10/2013 - 16:39 | Link to Comment thisandthat
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Russia doesn't care about stinking millionaires or multimillionaires; it's billionaires or bust!

Fri, 05/10/2013 - 16:50 | Link to Comment Nussi34
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From these numbers Munich would have 2.6 Mio. inhabitants. That is twice the number it actually has. And no there is no metropolitan area around it. Frankfurt numebrs also make no sense...

Fri, 05/10/2013 - 17:34 | Link to Comment Kirk2NCC1701
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"Where are they hiding?"  On their fancy yachts and estates, that's where.  But not in Munich drinking at the Hofbrauhaus, or on the Rhine, drinking Riesling wine.

Here are some of the richest in Music: (Who the fuck is Jay-Z or Diddy?  Never heard of them.)

In high-tech: (never heard of most of them).

In Acting: (Adam-can't-act-Sandler, Vince Vaughn, Ben Stiller?  Seriously?)

TV Personalities: (Simon-the-asshole Cowell and Judge-know-it-all-Judy?  Really?)

Howard-the-sleaze-bag-Stern?  Really?

Now, how's about we leave the purity of Showbiz and go where the real wealth is - Hedge Fund Managers:  (Fuck me, I'm NEVER, EVER, NEVER investing with any hedge funds!)

Fri, 05/10/2013 - 21:44 | Link to Comment GoinFawr
GoinFawr's picture

I gave you a greenie for the effort. And IMO "Greenberg" wasn't half bad.

This, put out by Her Majesty's Gov't, illustrates the value of not being seen.

Fri, 05/10/2013 - 17:02 | Link to Comment TDoS
TDoS's picture

Do these assholes have livestock? How about water collection? Timber? Food growing?

Their wealth exists only as long as their tangled web of ones and zeroes doesn't go kablooey. My county might not have millionaires, but we have fertile pastures, woods with game, and flowing water.

Have fun sucking down fukushima's radioactive farts.

Fri, 05/10/2013 - 19:02 | Link to Comment GoinFawr
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You own a whole county?

Fri, 05/10/2013 - 21:08 | Link to Comment Diogenes
Diogenes's picture

In Kentucky that could cost you thousands of dollars.

Fri, 05/10/2013 - 20:53 | Link to Comment Never One Roach
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I'm selling my pre-Fuki Alaska salmon on Ebay for $50 a can.....not much left out there...most of the other stuff glows in the dark and gives you thyroid cancer or leukemia or brain cancer...or.....

Fri, 05/10/2013 - 21:47 | Link to Comment RafterManFMJ
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Do these assholes have livestock?

If you live in America, yes they do. Just look around the next time you're at the mall.

Fri, 05/10/2013 - 17:56 | Link to Comment Stuck on Zero
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There are more Japanese billionaires then anywhere else.  It's just a cultural thing in Japan to never play up your wealth. 



Fri, 05/10/2013 - 18:59 | Link to Comment Common_Cents22
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This list is BS.  Where is DETROIT!!!!?????

Sat, 05/11/2013 - 05:02 | Link to Comment Izznogood
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But are you really a billionaire if the government can seize you ass(ets) whenever it's not happy with you (as in Moscow)?

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