Luxembourg’s capital is home to around 70 residents with wealth of over $100 million (€88 million), according to a new global ranking of so-called centi-millionaires.
Luxembourg City was ranked 50th out of 141 global cities in the ranking, which was compiled by South African wealth intelligence firm New World Wealth and published by immigration consultancy Henley & Partners.
The top three cities in the list are all in the US – New York City, San Francisco Bay area and Los Angeles – which combined are home to more than 2,000 individuals whose net worth is above $100 million (€88 million).
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London and Paris are the only European cities in the top ten, with 352 and 277 centi-millionaire residents respectively.
Centi-millionaires are “arguably the most important wealth band when it comes to wealth creation due to the large percentage of entrepreneurs in this segment”, Henley & Partners said on its website.
(This article was originally published by Virgule. Translation, editing and adaptation by John Monaghan)