Bringing you live news and features since 2006 

Research reveals that London is the capital of the world for the multi-millionaire


More multi-millionaires live in London than any other city in the world according to research carried out by Spear’s magazine and wealth consultancy company WealthInsight.

The research shows that despite annual falls in the number of multi-millionaires living in London’s closest rivals Tokyo (2nd) and Singapore (3rd), London’s multi-millionaire population continued to grow by 0.8 per cent from 2014 to 2015. 
The city’s multi-millionaire population now stands at 25 per cent more than second placed Tokyo with 4,400 millionaires now residing in the city. Two other UK cities made the top 100 with Birmingham ranking in 65th place with 138 multi-millionaires living in the city and Edinburgh at 74th with 112 multi-millionaires.
The eighteen cities that saw the biggest increases in multi-millionaire population year on year were all in Asia, with the Chinese city of Dalian toping the overall rankings with a yearly increase of 5.4 per cent multi-millionaires.
Kiev (-10.2 per cent), St Petersburg (-7.9 per cent) and Moscow (-6.8 per cent) saw the biggest decreases followed by Sao Paulo (-5.7 per cent), Abuja (-4.3 per cent) and Rio de Janerio (-3.7 per cent).
Oliver Williams, Head of WealthInsight, says: “For the three years that we have run this survey, London has maintained the lead with the largest population of multi-millionaires. Though the growth in London’s wealthy residents has slowed from 3.3 per cent last year to 0.8 per cent this year, the capital looks set to maintain its edge over rivals such as Tokyo and Paris, whose economies have made them less attractive to multi-millionaires. For the next two to three years at least we should expect London to retain its lead as the global capital of multi-millionaires.

“The biggest changes in this year’s ranking have been caused by political and economic turmoil. Ukraine and Russia have witnessed contractions as their wealthy residents flock overseas. The real success story of this year’s list has been the rise in multi-millionaires residing in Chinese and Indian cities.”     

Latest News

News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by