London has the sixth highest percentage, 3.39%, of millionaires of any global city with over one in every 30 a millionaire according to a research by sister company WealthInsight and SPEARS’s magazine.
First place was taken by Monaco with almost a third of its population classed in the millionaire financial bracket. Closely following behind were Swiss banking hubs Zurich and Geneva. Key banking centres New York and Frankfurt rounded off the top five.
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Josh Spero, editor of SPEAR’s, said: "It’s no surprise that London has so many millionaires – it is a magnet for home-grown and foreign talent in every field and where the wealthy come to enjoy their money. But London’s continued success is not guaranteed and big issues like membership of the EU and how we tax our citizens and businesses will determine whether we have more millionaires or fewer in the future."
Oliver Williams, analyst at WealthInsight, said: "What millionaires particularly love about London is its political stability and heritage. Owning a piece of history in a city such as London is an aspiration for many, particularly wealthy individuals from overseas."
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