When someone thinks about therichest citiesin the world, a few places spring to mind straight away. For most people, the list usually starts with the likes ofLondon,ParisandTokyo. And while all three are usually in the top 10, they are not the richest.
That title belongs to amegacityin the US that is home to nearly 10 million people. And according to the most recent data, at least 154 of them arebillionaires. The number ofmillionairesis even bigger, standing at around 400,000.
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That city is, of course,New York City. It has recently been named the world’s richest city, with 154 billionaires whose combined fortunes are worth an estimated £722billion.
The figures come from a new report byOxfam America, which found the state is home to some of the highest concentrations of ultra-wealthy residents anywhere on the planet.
According to the report,New York’s billionaireshave a combined net worth of $975.7billion (around £722billion).
Among those based in New York are former mayor Mike Bloomberg, whose wealth is estimated at $109billion (around £80billion), and Blackstone chief executive Stephen Schwarzman, worth $41billion (around £30billion).
Oxfam America said the wealth of New York’s billionaires increased by 11.6% over the past year. It added that this rise was three times greater than the hourly wage growth of private-sector workers in the state.
The report also found that real average hourly earnings inNew York’sprivate sector have largely stagnated and were even slightly lower in 2025 than before the pandemic.
Source: Daily Express :: World Feed
