Beijing And Shanghai Each Have More Multi-Millionaires Now Than Los Angeles


los-angelesAmerica is developing a millionaire-inferiority complex.

New data from WealthInsight shows that Beijing and Shanghai each have more multi-millionaires now than Los Angeles. The study measures the segment of the population worth $30 million or more, known in wealth-industry parlance as “ultra-high-net-worth individuals.”

Beijing has 1,318 people in that group. Shanghai has 2,028. Both are higher than Los Angeles, which has 950 people worth $30 million or more.

New York still towers over the others when it comes to the ultra-highs, with 2,929 people worth $30 million or more.

Source: CNBC.COM

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  1. And they’re Chinese :-). On the other hand, there are lots more Chinese than Americans. Maybe a percentage of the total population would be a better measure.