NYC Named America's Richest City With Over 650,000 Millionaires

by Jared Paul Stern (RSS feed)
Aug 4th 2010 at 7:01PM

New York has been named America's richest city with a record 667,000 high-net worth individuals, or people with $1 million or more in investible assets, recorded as living there in 2009. The figure, 18.7% higher than in 2008, comes from the new Metro Wealth Index created by consulting firm Capgemini, the Wall St. Journal reports. New York not only topped the list but demolished the competition, with a sum greater than the total of the next three runners up combined – Los Angeles, Chicago and Washington. The number of millionaires in New York City – some of whom are of course billionaires – is now greater than the entire population of Boston. While growth is up across the board over 2008, only New York, D.C. (#4), Houston (#9) and San Jose (#10) are now above their 2007 or pre-recession levels, with the rest still languishing behind.

Here are the full tallies of millionaires for the top 10, along with the percentage growth:

New York – 667,200, +18.7%
Los Angeles – 235,800, +13.3%
Chicago – 198,100, +15.1%
Washington, D.C. – 152,400 +19.3%
San Francisco – 138,300 +14.5%
Philadelphia – 104,100, +20.1%
Boston – 102,300, +14.4%
Detroit – 89,100, +12.1%
Houston –- 88,200, +28.9%
San Jose - 86,500, +24.5%

Tags: Boston, Chicago, Detroit, Houston, Los Angeles, millionaires, New York, Philadelphia, San Francisco, San Jose, Washington, wealth

Filed under: Wealth