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 | 3549463 Temporalist
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In Zimbabwe we're all trillionaires!

Fri, 05/10/2013 - 16:07 | 3549482 JohnnyBriefcase
JohnnyBriefcase's picture

You mean the radioactive wasteland Tokyo? That Tokyo?

Fri, 05/10/2013 - 16:11 | 3549494 freewolf7
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Try the seafood specials.

Fri, 05/10/2013 - 16:16 | 3549508 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 | 3549518 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 | 3549534 rajat_bhatia
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Fri, 05/10/2013 - 16:35 | 3549563 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 | 3549592 cifo
cifo's picture

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

Fri, 05/10/2013 - 16:45 | 3549597 mayhem_korner
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I would say "reclassification" of necessities, Mr. Thoreau.

Fri, 05/10/2013 - 16:46 | 3549599 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 | 3550050 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 | 3549513 DoChenRollingBearing
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.

Fri, 05/10/2013 - 16:32 | 3549557 mirac
mirac's picture

and soon to be QUAKE ravaged Tokyo...

Fri, 05/10/2013 - 20:51 | 3550363 Buck Johnson
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. 

Fri, 05/10/2013 - 16:36 | 3549570 The Proletariat
The Proletariat's picture

$5.25 (plus free shipping) is all it takes be a trillionaire....



Fri, 05/10/2013 - 15:59 | 3549465 The Master
The Master's picture

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

Fri, 05/10/2013 - 16:04 | 3549469 Manthong
Fri, 05/10/2013 - 16:04 | 3549472 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 | 3549474 GoinFawr
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Ours is not to reason why, ours is but to pry and pry.

Fri, 05/10/2013 - 16:06 | 3549477 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 | 3549478 azzhatter
azzhatter's picture

Do we have enough lamp posts?

Fri, 05/10/2013 - 16:08 | 3549485 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 | 3549486 rsnoble
rsnoble's picture

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

Fri, 05/10/2013 - 16:08 | 3549487 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 | 3549496 knukles
knukles's picture

Same reason there's been no Fed audit.

Fri, 05/10/2013 - 16:10 | 3549489 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 | 3550184 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 | 3549499 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 | 3550393 Diogenes
Diogenes's picture

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

Fri, 05/10/2013 - 16:21 | 3549521 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 | 3549528 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 | 3549556 GoinFawr
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But are they marked to market?

Fri, 05/10/2013 - 16:36 | 3549568 mayhem_korner
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Mine are.

Fri, 05/10/2013 - 16:40 | 3549578 GoinFawr
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Any Banque

Fri, 05/10/2013 - 16:52 | 3549618 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 | 3549524 azengrcat
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Billionaires want to live in Chitcago?  Stunned

Fri, 05/10/2013 - 16:26 | 3549532 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 | 3549660 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 | 3549538 Carnegie_IB
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so Austin or Coto de Caza did not make the cut.

Fri, 05/10/2013 - 16:29 | 3549544 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 | 3549806 Z_End
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More true than you realize.

Fri, 05/10/2013 - 18:51 | 3550014 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 | 3549545 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 | 3549548 digalert
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Fri, 05/10/2013 - 16:39 | 3549580 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 | 3549610 Nussi34
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...

Fri, 05/10/2013 - 17:34 | 3549628 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: 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?)



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!)

Fri, 05/10/2013 - 21:44 | 3550469 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 | 3549640 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 | 3550046 GoinFawr
GoinFawr's picture

You own a whole county?

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