Hong Kong now has more super-millionaires than New York City

Hong Kon

• Hong Kong has officially surpassed New York City as the place with the highest concentration of super-wealthy people. 
• Hong Kong has seen a 31% increase in the number of ultra-rich residents worth at least $30 million, according to a new report from the data firm, Wealth-X.
• Tokyo, Los Angeles, and Paris were among the top-ranked cities, but major US cities largely dominated the list. 
• Property prices in Hong Kong have increased to reflect the growing wealth of its residents, though the country is in the midst of a housing crisis with limited zoning allocated for residential development.  

Hong Kong has officially surpassed New York City as the place with the highest concentration of super wealthy people. 

Hong Kong has seen a 31% increase in the number of ultra-rich residents worth at least $30 million, according to a report released Thursday from the data firm, Wealth-X. The region had just over 10,000 residents who fall into the  "ultra-high net-worth" category, compared to roughly 9,000 ultra-high net-worth people in New York City.

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