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London is tops for UHNW individuals, says Wealth X

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Wealth-X has listed London as the European city with the most number of Ultra High Net Worth (UHNW) individuals, in its first annual ranking of the most popular UHNW European cities.
 


London, host city to the 2012 Olympics, has 5,955 individuals with a net worth of at least USD30 million each. More than half of the United Kingdom’s 10,450 ultra wealthy individuals are also concentrated in London.
 


The ten cities with the largest UHNW population in Europe are:


1. London, UK (5,955)


2. Paris, France (2,820)


3. Zurich, Switzerland (1,775)


4. Munich, Germany (1,450)


5. Geneva, Switzerland (1,355)


6. Dusseldorf, Germany (1,355)


7. Hamburg, Germany (1,310)


8. Rome, Italy (1,140)


9. Frankfurt, Germany (1,100)


10. Madrid, Spain (1,060) 
 


The ultra wealthy in Switzerland and Germany are more dispersed compared to UK and France. Germany, home to 15,925 UHNW individuals, has the largest population of ultra affluent in Europe and the greatest number of UHNW cities. Four German locales; Munich, Dusseldorf, Hamburg and Frankfurt, make the top ten list in Europe.
 


“While Germany has the largest population of UHNW individuals in Europe, 50 per cent more than in the UK, London hosts more UHNW individuals than Munich, Dusseldorf, Hamburg and Frankfurt combined, thanks to a favourable environment for the ultra affluent including those who are non-domiciled,’’ says Mykolas Rambus (pictured), CEO of Wealth-X. “This inaugural Wealth-X ranking of the European cities most popular with UHNW individuals will enable private wealth managers, not-for-profits and luxury brands to better devise strategies to efficiently and effectively deploy sales and marketing resources to reach this much-sought-after community.’’

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