New York is the number one city in many ways. It will top the list of cities on many parameters. The latest list declares it as the richest city in America. This list has been prepared based on the number of high net worth individuals each city is home to. A person with $1 million or more in investable assets and recorded living in the city in 2009 has been the basis of calculation for the rich living in each city.
This Metro Wealth index has been created by consulting firm Capgemini as per reports in the Wall Street Journal. The number of rich or high net worth individuals living in New York has gone up to a record high of 667,000. This figure has come about as a result of 18.7% growth over the 2008 figures. The high numbers become even more significant when you realize that the next three runners up together also are less than the New York figure.
Look at it another way – The total number of millionaires in New York is now greater that the total population of Boston. The 2009 numbers are a growth over all the 2008 numbers But only New York, D.C., Houston and San Jose have gone ahead of the 2007 pre recession figures. In terms of percentage growth Houston is number one with a growth of 28.9% over 2008.