Super-rich call New York home
No wonder Occupy Wall Street started their protest here. According to anew report, New York is home to more members of the top 1 percent thananywhere else in the country.
No wonder Occupy Wall Street started their protest here. According to a new report, New York is home to more members of the top 1 percent than anywhere else in the country.
The city has 7,720 residents worth $30 million or more. New York has more of the mega-rich than any other city in the U.S., according to the report from Wealth-X, a company that connects “ultra high-net-worth individuals” with nonprofits.
With 55,000 people worth $30 million or more in the U.S., that means one in 10 of the country’s ultra-rich live in New York City.
“It’s a testament to the region’s financial stability and resilience,” said David Lincoln, Wealth-X’s director of research.
Among the super-rich making their home in the city are Mayor Michael Bloomberg, reportedly worth $18 billion. His colleagues on the list include David Koch, worth at least $24 billion, and investor George Soros, worth nearly $20 billion.
The survey findings come at a time when 20 percent of New York City residents live below the poverty line, which is about $18,000 for a family of three.
Follow Alison Bowen on Twitter @AlisonatMetro.