NYC has the most millionaires of any large metro area — how long till Dems drive them out?

Nypost ^ | 05/12/2024 | Post Editorial Board

[ChicagoConservative27]

Proving that the Big Apple still has plenty of juice, a report finds that it holds more millionaires than any other large metro area in the word.

Indeed, New York City’s count of millionaires is up 48% from just a decade ago.

The data, compiled by Henley & Partners, show that nearly 350,000 New Yorkers — one in every 24 — have at least a seven-figure liquid net worth.

[one guy in new jersey]

Rush Limbaugh, were he still with us, would beg to differ.

[TECTopcat]

This is largely driven by Wall Street and the financial managers there

[VAFreedom]

true, a lot of wealth shifted to the top, due to more greedy business/politicians than good guy like president trump.

but due to those tax dodges, nyc will be propped up to ensure this lasts forever, nyc is too big to fail like d.c will last until we are no more

[lepton]

If you’re a millionaire, you’re likely to have several homes.

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Or just be nearing retirement or recently retired. Lots of basic tradesmen with a single residence have accumulated that much wealth (not counting the residence).

[lepton]

If it includes real estate and immovable assets

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The article states they are including ‘liquid’ assets as well as investments. They are not including real estate. Roth IRAs would appear to qualify as liquid, as would 401Ks after 59-1/2.

[irishjuggler]

A million dollars ain’t what it used to be. Seriously doubt that most “millionaires” in NY own more than one home.