Not Paris or New York: This is the city where 30% of the residents are millionaires
Go a million bucks in your bank account? Get yourself over here to spend time with like-pocketed people.
The world’s richest city has been revealed, and while it might take a moment to guess which one it is, the answer won’t come as a surprise.
Monaco, the thriving European playground for the rich and famous, has been confirmed as the densest city on Earth when it comes to having a million dollars in your back pocket.
According to the data doing the rounds on social media — most recently via @stats_feed — an eye-watering 29.2% of Monaco’s residents have a seven-figure bank balance.
🇲🇨 An estimated 30% of Monaco's residents are millionaires
— World of Statistics (@stats_feed) April 29, 2025
Why are there so many millionaires in Monaco?
The Formula 1 postcard setting is a tax haven for the ultra-rich, and the party lifestyle coupled with the fantastic southern European weather makes it an ideal location to, say, park your yacht for the weekend.
There are around 38,000 residents in the city, meaning only 11,000 millionaires are needed to reach such a high percentage. The cost of real estate, which sits at €53,000-€100,000 per square meter, also puts off anyone without a huge wad of cash in their trousers.
Another good guess might have been Paris, but just over 2% of people hold millionaire status there. While it’s got a vibe of red trousers, designer sunglasses and small scarves, it’s nowhere near the numbers that Monaco deals in.
💰 Individual net wealth needed to join the top 1% in selected countries.
— World of Statistics (@stats_feed) August 16, 2024
🇲🇨 Monaco : $12,883,000
🇱🇺 Luxembourg : $10,832,000
🇨🇭 Switzerland : $8,509,000
🇺🇸 USA : $5,813,000
🇸🇬 Singapore : $5,227,000
🇸🇪 Sweden : $4,761,000
🇦🇺 Australia : $4,673,000
🇳🇿 New Zealand :…
It’s a similar story with New York City. The Big Apple is home to more millionaires in in terms of actual quantities, but only 4.6% of New Yorkers make it into the club: that’s one in every 22 people.
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