The Occupy Wall Street Movement has pointed out issues of social and economic inequality in America. As a result of this, wealthy Americans have been in the spotlight and are referred to as the 1%. This prompts the question: Who are the 1% and where do they live? Wealth-X, a global wealth intelligence firm, compiles data on ultra-high net worth (UHNW) individuals. A UHNW individual is defined by Wealth-X as anyone with at least $30 million in assets including shares in companies, real estate, cash, art collections, private planes and other investable assets.
Below are the top ten places with the most ultra-high net worth individuals.
1. New York
- New York is a global hub of international business and commerce, and is one of three “command centers” for the world economy, along with London and Tokyo.
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2. Los Angeles
- The economy of Los Angeles is driven by international trade, entertainment (television, motion pictures, video games, recorded music), aerospace, technology, petroleum, fashion, apparel, and tourism. Los Angeles is also the largest manufacturing center in the western United States.
- Click here to view Los Angeles real estate. Click here to view Los Angeles demographic information.
3. San Francisco
- The legacy of the California Gold Rush turned San Francisco into the principal banking and finance center of the West Coast. Today, tourism is the backbone of the San Francisco economy.
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- Chicago has the third largest gross metropolitan product in the United States. The city has also been rated as having the most balanced economy in the United States, due to its high level of diversification.
- Click here to view Chicago real estate. Click here to view Chicago demographic information.
5. Washington, D.C.
- Washington has a growing, diversified economy with an increasing percentage of professional and business service jobs.
- Click here to view Washington, D.C. real estate. Click here to view Washington, D.C. demographic information.
- Houston is recognized worldwide for its energy industry—particularly for oil and natural gas—as well as for biomedical research and aeronautics. The Houston area is a leading center for building oilfield equipment.
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- In its beginnings, Dallas’s economy relied on farming, neighboring Fort Worth’s Stockyards. Today, the city of Dallas has 12 Fortune 500 companies. The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States.
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- Atlanta ranks fourth in the number of Fortune 500 companies with headquarters in the city, behind New York, Houston and Dallas.
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- Boston has the sixth-largest economy in the country and twelfth-largest in the world. Boston’s colleges and universities have a significant effect on the regional economy.
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- Seattle’s economy is driven by a mix of older industrial companies, along with Internet and technology companies, service, design and clean technology companies.
- Click here to view Seattle real estate. Click here to view Seattle demographic information.
Visit wikipedia if you would like to get a snapshot of information on the economy of each city.