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Where The Top 0.002% Of The World Live
We’ve talked quite a bit in the past about the foreign oligarch demand-driven boom in Manhattan real estate prices and the dollar strength-induced bust in the market for luxury Miami condos. As the dollar continues to surge and signs emerge that the hot money laundering trade may be waning, here are some clues as to where the 0.002 percenters of the world can be found going forward.
Mapping the number of people with $30 million or more in assets by city…
...and the breakdown looks like this…
More from Citylab:
Things have changed since the last edition of the report. Now London is on top, besting New York City, which fell to fourth place. San Francisco, previously number four, has fallen out of the top 20 entirely. Singapore rises into the top 10, to number three, and Hong Kong is up three spots from 2013, to five. The top 10 also has two new European entrants: Frankfurt has the sixth most ultra-high-net individuals, and Paris has the seventh. Osaka, Beijing, and Zurich round out the top 10.
The dominance of Asian cities illustrates a larger trend. For the first time, Asia overtook North America as the region with the second-largest growth in ultra-high-net individuals. The wealthy in Asia also now hold more money overall than those in North America: $5.9 trillion compared to $5.5 trillion. However, Europe still reigns supreme, with the greatest growth in the number of super-rich and with the wealthiest super-rich overall. Europe’s high-net individuals hold $6.4 trillion.
As it turns out, Russian oligarchs are especially keen to relocate:
Not surprisingly, the global super-rich are a highly mobile bunch. According to Knight Frank’s survey of some 500 leading bankers and wealth advisors across the globe, the world’s super-rich continue to flee Russia and Asia* to stash money in real estate in North American and European cities. Russians are the most likely to be looking elsewhere, as the table below shows.
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None of these bastards live in Alabama....unfortunately....
Ummm... Monaco?
So for this arsholes, we fucked up the world and the biosphere
No. We, the dumb mass are as greedy as these greedy a..holes because we prefer any dumb short sighted promise for individual benefit over the long term outlook.
More boating accidents, I'm blessed, both my clients, Super Rich according to ZH.
Gold Bitchez.....I pick up pennies
This article is bullshit. All the rich bastards live in Palo Alto.
No, that's where people with net worths between $500,000 and $5,000,000 live. This article is about people over $30,000,000.
If you overlaid a Russian tactical exchange map you'd get the same locations. Tis a tragedy they spent their whole lives robbing their fellow citizens only to be annihilated themselves in the soon 2022-2024 nuclear exchange.. wish I knew the timings better..
Yes totally. But luckily the same class of people have the solutions. Carbon taxes, 'green banks', patented technologies. I'm sure you'll throw yourself right into their trap. I mean they already have you believing there's a problem, so you'll lap the solution right up.
The Earth is not broken. And even if it were, you drastically underestimate its regenerative power.
Yeah! Monte Carlo definitely should be on the list!
The rich don't live in Monte Carlo. They have appartments there that are super nice but they only stay there from April to September and then they are home. The town is a ghost town during the fall and winter months. Great place to hang out. Lots of great food, casinos, and night life. And you are close to Nice, St Tropes and also San Remo Italy. But really, its is a very small spot.
So I can look on AirBnB for October and find something cheap? Monaco, here I come.
London is soo overrated...
Unless you are superrich...
Why? Do they wear some kind of super expensive goggles that make London something other than an urban nightmare?
Each to their own I guess. I suppose they have to be near the corporation of London to be exempt from certain laws, and keep in touch with their pedo masonic friends.
Lots of high quality goods and services tailored for the elite there. No point in living in a free country as an oligarch if you can already buy your exemption from the law, and if you can't get a good hundred dollar hamburger wherever you are, right?
Not the real list. No trillionaires.
Let's load the coordinates into the Tsar Bomba anyhow. We might at least graze one or two of them in the wing as they try to take flight to escape the blast(s). And who knows, maybe hitting one or two of them by sh*t luck is all we need.
preferably not - live between #1 and #6, and not keep on getting a sun tan from both sides yet...
New York dropped out of first place because too many are front running the suitcase bomb. Who let that info out of the bag? Oh yeah, Obama did.
You mean who financed it? WS'ers
i don't know about the suitcase bombs but i'd think tokyo (number 2) was starting to glow just a little by now. relative of mine returned from there and said the rich were getting restless.
I always look at these lists with a bit of skepticism. Like a guy with $30MM+ in assets actually discloses his net worth to any idiot who calls up asking them to answer a survey.
"$30 million or more in assets" in local currency? In what currency?
semi worthless data
plus the fact that the ultra rich own multiple homes all over the world.
USD, primary residence.
Data probably care of the IRS.
Shiftless, we don't know that for sure. No telling who is lurking and who would move here if the income tax disappeared. I expect Florida to rocket upward since they did away with a yearly "Intangible Tax", an onerous wealth tax. Florida also has favorable treatment for debtors that has attracted the OJs, Bowie Kuehn, Trump, etc. where they unload their wealth in a home before the creditors can get it. The only ones that can confiscate the homestead is a noteholder on it, or the IRS. I suspect that the state could get at it for non-payment of ad valorem taxes but a lawyer said it was debatable at one time.
not to mention no income tax. wait, i mentioned it.
Florida would be a nearly unlivable shithole in any type of technical infrastructure breakdown, plus, as I've always noted, ALL of Florida is merely a beach that sees wave action infrequently enough to grow trees.
Most folks don't actually live on their rental properties shiftless.
And you are implying what, exactly?
The author of this story has never been to Newport Beach, California. That is where the .00001% live.
USA #1! Oh wait...
According to Spock, "If you add up Frankfurt and Munich, Germany is in #3. And if you add up Tokyo and Osaka, Japan is in #1. Fascinating".
None of them in Greece?
Small islands in the Aegean just aren't worth as much now, as they were a while ago.
German repossession?
All funny money yen. Unlimited printing and these fucks have no souls lomg live the middle class lmao
Southeast Asia is the place to be if you have money. Except if you are very old.
Got quite a few cooler places in SE Asia for the very old. Dig into the history books and see where the colonials (especially governemtn) was located. DaLat, Yogyakarta etc. Quite steady around 16-22 degrees celcius.
Healthcare quite decent as well (yes really). Just don't drink from the pond outside and you should be fine.
I don't see any city in Kansas listed.
I don't get how Mexico City rates so high. Goes to show that being a Drug Lord and BFF of the DEA/CIA pays.
And if you're a Mexican Telecom mogul, it pays to be BFF with the NSA. "Hijo de puta!"
I'd live in San Francisco. I love that place.
Or alternatively, London, as it historically has been the city in the country with the set of rules, least likely to suddenly change.
San Francisco?
Beautiful City; Crazy/Insane/Idiotic People.
If I were in the 0.002%, I could probably afford a nice place in a modest place. Like, say In Presidio.
Probably.
I was doing some contract work for a corporation in Presidio some years back. During lunch on my first day, I went to their cafeteria. Looked down the room and saw an amazing, lifelike painting of the Golden Gate bridge. Except of course that it wasn't a painting. It was just an unbelievably stunning view.
Indeed. The US Military owns some of the nicest, most valuable real estate in the world.
The Presido is one of the few locales they opened up for private use.
Can you imagine what an east-facing parcel near the tip of Point Loma Naval Base would fetch?
(Or ALL of Coronado for that matter...)
I like San Diego as well, but San Francisco has got a certain vibe which just isn't there in most other large cities across American, including SD. However, you can walk everywhere in SD, whereas although not as bad as LA (which to me is nothing but a giant car park - with the exception of the small strip from Santa Monica to Beverly Hills), you just can't do that on a night out in SF.
Anyway, by 'vibe' I don't mean the scent of dope on every street corner. I could live without that.
I detest Los Angeles (having lived in the vicinity for 25 years), only the beaches make it somewhat bearable...
I do love San Diego, but I never considered it 'walkable.'
My favorite 'walkable' west coast city is Seattle; it has a great vibe, and is just the right size (which means in 10 years the place will be a total zoo...)
It's a good thing that Seattle doesn't have San Diego's weather, otherwise the zoo animals would have ruined it long ago.
Stay out of Downtown San Diego (except the heavily patrolled Gaslamp District) and especially East San Diego at night.
Imperial Baach is rather dangerous all of the time. Stay away from South Bay. But Pacific Beach, Mission Beach, and La Jolla Cove are alright. Of course both Point Loma and Coronado are military and quite regimented and orderly.
While Oceanside Pier has gang activity at night, Carlsbad is a-okay.
In most East County locales it is relatively safe to walk at night. I cannot say much about North County as I do not frequent it as much.
Doesn't matter where you live in SF, unless you stay in your house all day, you can't get from the cab to the curb without stepping over a homeless person, or some sort of moral degenerate.
I enjoy your disrespect of the homeless. But they are already trained in the art of survival. You can prep all that you want. (I have.) But you are absolutely clueless about what it takes to survive as your pampered ass lacks experiential knowledge.
But you have to sleep sometime. For me I will raise and have an army of the homeless hordes. I will be feeding them...post collapse.. Food is a wonderful incentive.
Go ahead and you keep on disrespecting them. Knock yourself out. We shall see who fares better.
A Navy Lieutenant, a graduate of Annapolis, approached me last week. (He was from Massachusettes and voted for Obama because he could not stand Romney. Laughable.)
He had lost a pair of Ray Ban Aviator sunglasses his father had given to him at Lindo Lake Park. Anyway I spent a few hours with him looking for those damned sunglasses. I interviewed probably 20 of the homeless that I knew.
He took me as he had figured it out that I have developed a repoire. He was quite right about that. I have not heard from him. He must have gotten his glasses back.
If you think that I am joking...YOU ARE MISTAKEN.
Fall asleep halfway through the first sentence. Something about winning the internet prepper tough guy challenge?
I cannot be more pleased.
Here is my street address.
12223B Woodside Avenue.
Lakeside, CA, USA
That is my PHYSICAL LOCATION.
But I do not expect a visit from someone who lacks balls.
for it is Zero Hedge's opinion that not only is it now far too late to promote any type of change at the top, but the best policy is to urge the Fed on in its ludicrous policies, in order to lead to the catastrophic culmination of 100 years of disastrous wealth-transfer policies, which unfortunately is the only possible way a cleansing systemic reset - one that would finally eradicate the scourge of central-planning - can be unleashed upon a broken and malfunctioning system in its final throes of status quo existence.
http://www.zerohedge.com/news/2015-03-14/inside-federal-reserve-money-nothing-full-movie
Bring about the catastrophic collapse. I cannot agree more.
you mean 'rapport'.
Thanks.
Three people do not like Zerohedge's opinion at this point...
Far too many lack balls...Far too many here.
You shall reap what you have sown. That is not an opinion but it is an indisputable fact. Too many have not ever raised any crops of anything valuable.
Far too many here have not produced anything of any real value but have subsisted upon financialization and cannibalization, just another form of paper work welfare.
You know who you are and everything which comes your way will be catastophic. You deserve it...all of it...Since you believe that you are more deserving than others then you shall get what you deserve.
just ordered you
a feta and anchovies pizza
enjoy
Thanks. I will definitely not pay for it. I will have them trace your phone number and prosecute you for FRAUD.
(I refuse to have any phone. It is impossible for me to place any order.)
Enjoy your NSA tracking device. Enjoy paying for it. It helps them enslave you.
You actually pay for your own chains. That is laughable.
You're 'n interesting fellow @ Tall Tom
;) I like your style.
btw, Good Morning from Enköping.....it's a beautiful & sunny spring day and about 32F.
&, I'm prepared. I've been that for over 35 years now.
Cheers X-
Wait...what? ..romney lost his sunglasses?.. and you helped him?
Did you guys ever find them?
No biggie, i think he can afford new ones.
But- i did miss your point completely. ..i think?...
Good for you. I am pleased that you did.
You spent two hours helping an Obama voter look for his precious little Ray Bans? I am not sure who is a bigger loser. You or the Annapolis grad. Daddy I lost my glasses. What a pu**y that guy sounds like.
I hope this dumbass does not fly planes off carriers. Does not really matter because the USA is finished.
I can see this Annapolis grad up against some of those eithnic Russian-Ukrianian miners in Donbass (DPR/LPR) fighting against the Kiev scum.
The academy grad would last about five minutes. Givi would have this guy for lunch.
https://www.youtube.com/watch?v=K9k05CbXmqE
Givi is a real leader, I'd follow him.
https://www.youtube.com/watch?v=2iAcrZGoPrg&index=62&list=PLY96rNvqGJm9y...
That is what our finest commisioned officers are all about.
You think that I lost? Now that is funny.
Actually I enjoyed debating him.
I have no problem talking to the NSA.
At least he knew who Smedley Butler was.
Lakeside is not known for its intellectualism. In fact it is rather impoverished...in more ways than one.
I treat everyone with respect until they prove themselves undeserving.
Like the homeless, for instance...
Arrogance will be the signature of the downfall of many. Disrespect will be a death sentence post collapse.
It wil be an interesting time.
I respect your story -the homeless will fare far better than the ignorant , pampered, clueless sheeple -when STHTF - they are an army waiting for a mission - waiting for a purpose in life. When they can no longer count on handouts they need to survive -they will adapt and will provide an important part ot the next revolution -the Resistance. People should not mock your post. For example, American Vets who are committing suicide by the dozens each day -can easily convert to an effective fighting force if finally given a purpose in life.
You'd pay seven figures to live in squalor with people who would most likely protest your being there?
Why would anyone want to live in any mega cities is totally beyond me. Stupid fucks! Even with all their money and power they are still impoverished like the rest of us.
they have more than one home in those areas, manhatten, and then the country home nearby.
I agree. I love visiting the "big city" but I sure as heck would not want to live in any of them.
Not me. I hate big cities and hate to visit them. Nothing there for me.
I'm going to guess that most of the 0.002% own mega homes in at least five of those places, and probably a few more places that you and I never heard about.
What no Detroit!?
The millionaires live in Grosse Pointe.
And now the list by name and robbers can go on the job.
Why on earth would Russians want to leave Russia? Isn't everything supposed to be going Putin's way?
These are the rich Russians who hate Putin and want him replaced with someone more compliant. The Khodorovskys and Lebedevs of the world.
The rich Russians who put Russia first and their bank accounts second have no reason to leave. They stay put.
The rich Russian jews want Putin out -but are they really Russian-or dualie israeli Firsters like in the US?
The Uber Rich have an uncanny ability to hear war drums and the means to move quickly than the average person.
Miffed
If the Uber Rich hear war drums, it's because they ordered them to be played.
If you hope to survive the first strike then you must leave the geographical areas with Military Installations.
San Diego County, CA, is not the best location for survival.
But I am not hoping that I survive it. I do not want to inherit that world. So I will stay put.
Perhaps you have other ideas...
It would be very interesting to see the shifts. i.e. the same list for 2000 and in 1985.
London and Switzerland are tax havens for the ultra wealthy. Same is HK. Singapore is natural since it does not tax income of residents / citizens if earned abroad.
Beijing at No 9 and Shanghai would defintely not have been there a decade ago but has sneaked in at No 19 in 2015.
Most European cities should have declined in the last decade while both Swiss cities should see a massive decline this year onwards due to rapidly declining real estate prices, loss of income due to CHF rise etc.
Does anyone have older lists?
Don't have a list, but I have the impression that a lot of those London-dwelling folks are going to seriously regret having assets in the UK at some point. As it stands, I could not think of a region of the world which has higher potential for foreign exchange translation risk.
London property prices are simply insane right now. It has been approaching the mania stage for over a year, with people rushing into the market to try and flip properties for profit. I really DO NOT understand why people (especially after the subprime) rush into assets which are highly illiquid, fixed geographically, and subject to all sorts of (geo)political risks.
I guess if you're sat on a shit ton of wealth, you have to find a home for it somewhere, but it blows my mind. Truly.
if you have let's say 100 million, and one primary residence worth 10, with others worth another 10, then you have 20% of your net worth fixed in RE, without going into mortgages or not
compare it to the classic "homeowner" who binds way more of his net worth into one location
a lot of strange things are often written about the seriously rich. one thing that it's often forgotten is that many of them are heavely into one company, having founded or inherited part of it, or have very balanced portfolios, thanks to the sheer size of them
in short, if a RE bubble in London would burst, it would seriously hurt the overexposed, but that's not the seriously rich
Texas missed the top 20?
Not including narcotics cartel families?
This map should read This is where the bombs won't be dropped.
Not a single super rich person in Russia?
(See London & New York)
My question is not "where" they live, but, "why" they live.
can't you see purple spot on Moscow ? yanks sucks in geography .
Istanbul is an interesting one for sure. Still, how accurate is this anyways?
Building restrictions keep the price of waterfront and historic properties high. It's an international hub with people from all over the world, so you can blend in very easily. Beutiful city, beatiful women, great food and drink. If you can handle living under Turkish rule it's not a bad choice.
Turkey: not bad, as long as you're rich enough to never go to prison.
The Federal Reserve Banking Family (FRBF) still have assets worth more than everyone. Which happen to be banks.
They have the USD.
A better measurement would appear to be who has more than three thousand dollars in assets actually.
My #1 would be the village of LaJolla.
Besides the stench of sea-lion shit on occasion there isn't much NOT to like.
The weather is here, wish you were beautiful.............
Any family with more than $50B in wealth should be hunted down and hanged. Especially the Rockefellers.
Waltons and Koch Brothers first.
Fuck that, they are the nouveau riche....take out the real puppetmasters...Rothschilds, Warburgs, Oppenheimers, Vatican, The British Crown...
I'm an American. I'll handle the American ones. Zooropeans will have to handle the monsters they've created.
Start with DC and move outward.
This list cant possibly be correct. Every asshole in LA who is involved with a couple successful movies or TV shows is worth over $30 million. The actual number should be 10 times the number shown.
Perhaps the list is worthless becasue it does not cover metro areas, just the city proper. In which case you would have to add up Beverly Hills, Santa Monica, Malibu, etc, to get the right number for LA.
All the recent tech IPOS (google, facebook, etc) have created tens of thousands of people worth over $30 million. Where are they on the list?
You really want us to believe that Paris or Toronto has more super rich than the bay area?
If you were to treat South Florida as one area (which it pretty much is), there would have to be at least 10,000 people worth more than $30 million.
This list is not worth the paper its written on, er the 1 cent I paid to my data plan provider to read this thing. I want my money back!
What the Hell?!?
I can pee in my back yard, fire shotguns off my back porch, wander around in my underwear with a beer in my hand, have all-night barbeques with loud music and drunken yelling, doze in a hammock surrounded by wild birds singing, bury my beloved pets when they die, read Shakespeare by Coleman lantern in the woods at 2:00 AM, roof the shed at 6:00 AM before it gets hot, work on rusty beat-up trucks with no muffler, listen to the owls hoot and coyotes howl, butcher deer in the garage, take pictures of woodland flowers, etc. All that on a 4 acre place that's assessed at under $300K.
I understand the allure of the hustle & bustle of a world-class city, and I like to visit them. I'm always glad to get back home though. Those bazillionaires don't know a damned thing about the real "good life".
+1000
You almost sound as if you could be one of my neighbors...
Thanks itstippy. You have inspired me to go down to the cellar with my cup. Mabe visit my neighbors with a bottle of homemade.
Kinda why i like living in MT :)
re: @ itstippy
Sounds like a wonderful life.
My alternative has been Sweden/Scandinavia since ´81.
Left the the states in '78 to work in Saudi A & made some good investments in gold '79-Zürich.
Money is definitely not a complete gamechanger for most folks.
But, good investments in good people, land & attitudes give 'real return'.
B Good & Regards X- in Enköping
Yet more proof that America is turning into a third-world shithole. Even with some of the wealthy emigrating from Asia, the majority are staying put because they're fucking smart.
But they're kids are all in Canada and the US (and worse than British tourists, if you can believe).
Nick Hanauer: Beware, fellow plutocrats, the pitchforks are coming
Nidaar.. Watched that video. Good Grief....He's just another rich guy who is bored with his stuff and is now aspiring for political power.
A fifteen dollar minimum wage is like rearranging the deck chairs on the Titanic when you ignore the harm done through credit based money.
The minimum wage part sounds fishy all right. But I'd like to hear more fear from these oligarchs as they realize that pitchforks are really coming. Most of these sociopaths are so del centric, I'm sure they think they will be long gone when the time of reckoning comes, and most of them don't have / care about children or future. That's the sad part, lack of conscience makes them sociopaths, and the only solution is really something similar to 1789....
Russia is cleaning up
Wait a minute! There are rich people in Mexico? I thought Mexico was such a waste land that everybody wanted to leave and come to the U.S.A.. Why are their rich people when they could be killed and eaten by the poor masses down there? I guess the main stream media have been deceiving us again!
Too opaque, I need their google street view...
Who gives a rip?
These are just their safe vaults. They add nothing significant to these economies apart from buying some second homes. Enemies of the global 99% should be these tax havens.
I think this map is for wealth measured in USD no PMs. That map might be different.
I would imagine the onset of Freegold will even that out quite a bit.
An American investment banker was taking a much-needed vacation in a small coastal Mexican village when a small boat with just one fisherman docked. The boat had several large, fresh fish in it.
The investment banker was impressed by the quality of the fish and asked the Mexican how long it took to catch them.
The Mexican replied, “Only a little while.”
The banker then asked why he didn’t stay out longer and catch more fish?
The Mexican fisherman replied he had enough to support his family’s immediate needs.
The American then asked “But what do you do with the rest of your time?”
The Mexican fisherman replied, “I sleep late, fish a little, play with my children, take siesta with my wife, stroll into the village each evening where I sip wine and play guitar with my amigos: I have a full and busy life, señor.”
The investment banker scoffed, “I am an Ivy League MBA, and I could help you. You could spend more time fishing and with the proceeds buy a bigger boat, and with the proceeds from the bigger boat you could buy several boats until eventually you would have a whole fleet of fishing boats. Instead of selling your catch to the middleman you could sell directly to the processor, eventually opening your own cannery. You could control the product, processing and distribution.”
Then he added, “Of course, you would need to leave this small coastal fishing village and move to Mexico City where you would run your growing enterprise.”
The Mexican fisherman asked, “But señor, how long will this all take?”
To which the American replied, “15-20 years.”
“But what then?” asked the Mexican.
The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich. You could make millions.”
“Millions, señor? Then what?”
To which the investment banker replied, “Then you would retire. You could move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”
Some thing, nay, a lot of things, were totally lost in your translation.
Stupid story. Why would he have kids in retirement, for starters? Rheumatoid arthritis would put the kibosh to his guitar playing. Old people cannot sleep much let alone late. Who wants to sleep with an 80 yr old woman??
His friends would by then have swindled to very few, all unable to play guitars.
He could fish though, but by then the seas will have been emptied.
Stupid story, illustrating nothing.
http://nymag.com/daily/intelligencer/2014/02/i-crashed-a-wall-street-sec...
Why anyone worth piles and piles of dough would want to live in some crowded metropolitan snarl is beyond me.
The thing about this list, though, is that it illustrates just how few of them there really are.
They are vastly outnumbered.
live in or own real estate ?
They can run, but they can't hide.