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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Temporalist's picture

In Zimbabwe we're all trillionaires!

JohnnyBriefcase's picture

You mean the radioactive wasteland Tokyo? That Tokyo?

rajat_bhatia's picture

I bet all gold bugs here are millionaires.. After all their gold is worth $20,000 an ounce , isn't it?

mayhem_korner's picture

 

 

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.

mayhem_korner's picture

 

 

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.

cifo's picture

Wealth does not consist in the accumulation of goods, but in the reduction of necessities.

mayhem_korner's picture

 

 

I would say "reclassification" of necessities, Mr. Thoreau.

GoinFawr's picture

So one is wealthier if one kills off all their dependents? That's cold man.

HyperinflatmyNutts's picture

You Are just an ASSHOLE!!!!  get a life and get the fuck off of ZH..

DoChenRollingBearing's picture

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.

mirac's picture

and soon to be QUAKE ravaged Tokyo...

Buck Johnson's picture

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. 

The Master's picture

Addresses please?  Inquiring minds would like to know...

LawsofPhysics's picture

I hear that everyone's a trillonaire in Zimbabwe!  Damn it, a day late and a trillion short.

GoinFawr's picture

Ours is not to reason why, ours is but to pry and pry.

debtor of last resort's picture

They don't live there. It's just a p.o. box to avoid taxes.

azzhatter's picture

Do we have enough lamp posts?

Saint Pitbull's picture

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.

rsnoble's picture

Filthy rich and live in a radioactive pit?  Proof money doesn't=brains.

Fuku Ben's picture

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

knukles's picture

Same reason there's been no Fed audit.

Hulk's picture

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

max2205's picture

You have to be very stupid to be a billionaire or millionaire and live in Chicago. Awake up dubasses

Unpopular Truth's picture

Frankfurt? Could the lineage of these be traced to the nazi's who "inherited" the jewish wealth?

Diogenes's picture

Since German money was marked to 0 in 1945, no.

Spitzer's picture

So this means people who are worth a million or more in assets with no debt ?

I thought there would be a lot more.

mayhem_korner's picture

 

 

Chart says "net assets of $1million or more".  Says nothing about debt level.

GoinFawr's picture

But are they marked to market?

Ghordius's picture

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 ;-)

azengrcat's picture

Billionaires want to live in Chitcago?  Stunned

max2205's picture

Will they pay buy ins when their bank goes under and they have moar than 250k in 4 bank accounts

Z&#039;'s picture

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

Carnegie_IB's picture

so Austin or Coto de Caza did not make the cut.

Divine Wind's picture

 

 

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.

Z_End's picture

More true than you realize.

GeorgeHayduke's picture

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.

RafterManFMJ's picture

In my neighborhood you're considered wealthy if you have a pot to piss in.

thisandthat's picture

Russia doesn't care about stinking millionaires or multimillionaires; it's billionaires or bust!

Nussi34's picture

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...

Kirk2NCC1701's picture

"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: http://money.aol.co.uk/2012/04/26/the-ten-richest-millionaires-in-music/

http://rollingout.com/music/worlds-richest-musicians/ (Who the fuck is Jay-Z or Diddy?  Never heard of them.)

In high-tech: http://www.thetimes.co.uk/tto/life/article3746149.ece (never heard of most of them).

In Acting: http://www.aneki.com/richest_actors.html (Adam-can't-act-Sandler, Vince Vaughn, Ben Stiller?  Seriously?)

TV Personalities: http://www.cinemablend.com/television/Oprah-Simon-Cowell-Judge-Judy-Are-... (Simon-the-asshole Cowell and Judge-know-it-all-Judy?  Really?)

http://www.therichest.org/celebnetworth/celeb/journalist/judith-sheindli...

http://www.nowpublic.com/culture/full-forbes-20-highest-paid-celebrities...

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:

http://www.forbes.com/pictures/mdg45ghlg/ray-dalio-2/#gallerycontent  (Fuck me, I'm NEVER, EVER, NEVER investing with any hedge funds!)

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.

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.

GoinFawr's picture

You own a whole county?