1 Out of 21 New Yorkers Is a Millionaire: Which Makes It Number 4 in the Global Ranking

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You might have thought New York would be Number One in millionaires per square foot - per person, actually - but no, for all the shaking of heads, weary sighs and profound regrets, if you are looking to hang around with the truly wealthy, then Europe is the place to go.

Thirteen of the top twenty cities in terms of wealthiest percentage of the population are in sad, old Europe, as it were. And not just in the obvious places like Monaco or Zurich, but in Oslo, Amsterdam, Brussels and....Dublin. Yeah, enough crying in your beer, lads.

Not surprisingly, the correlation between wealth concentration and centers of finance is high. PS, even former New York Mayor Mike Bloomberg (pictured above with native New Yorker, Lady Gaga) has a house in London. Just saying...JL

Walter Hamilton reports in the Los Angeles Times:

Monaco, Zurich and Geneva claimed the first three spots.

Walk down the street in New York and you're virtually guaranteed to see several millionaires.
That's because more than 1 in every 25 New Yorkers is a millionaire, according to a study released Tuesday.
The Big Apple ranks fourth in a listing of the top 20 global cities based on the portion of their populations whose net worth, excluding primary residence, tops $1 million.

San Francisco is one of 3 U.S. cities to make the list of top 20 global cities with the highest concentration of millionaires.

Justin Sullivan / Getty Images

San Francisco is one of 3 U.S. cities to make the list of top 20 global cities with the highest concentration of millionaires.

Altogether, 4.63% of New Yorkers, or 389,100 people, are millionaires, according to the analysis by Spear's magazine and consulting firm WealthInsight.
“New York has long been the bastion of wealth not only in America, but the world," said Oliver Williams, an analyst at WealthInsight. "It has the second largest millionaire and largest billionaire population of any global city."
Monaco, Zurich and Geneva claimed the first three spots. Nearly 3 in 10 people in Monaco are millionaires.

Houston at No. 18 and San Francisco at No. 19 were the only other U.S. cities to make the list. In each city, a bit more than 2% of residents are millionaires.

Not surprisingly, most of the highest-ranked cities are banking and financial centers, including Frankfurt (No. 5) and London (No. 6).
TOP 20 GLOBAL CITIES BY MILLIONAIRE DENSITY - FULL BREAKDOWN:
1. Monaco (29.21%)
2. Zurich (27.34%)
3. Geneva (17.92%)
4. New York (4.63%)
5. Frankfurt (3.88%)
6. London (3.39%)
7. Oslo (2.90%)
8. Singapore (2.80%)
9. Amsterdam (2.63%)
10. Florence (2.59%)
11. Hong Kong (2.58%)
12. Rome (2.54%)
13. Dublin (2.40%)
14. Doha (2.31%)
15. Toronto (2.29%)
16. Venice (2.25%)
17. Brussels (2.11%)
18. Houston (2.09%)
19. San Francisco (2.07%)
20. Paris (2.04%)