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Tokyo has the highest number of millionaires

On This Day - 10 May 2013
« Tokyo has the highest number of millionaires »

Japan's economy has been stagnant for many years now, but its capital Tokyo can boast of having the most number of millionaires. As per the Economist, the city, which boasts 460,700 individuals with net assets of US$ 1 m or more (excluding their primary residences), is home to over a fifth of Japan's millionaires. China does not do badly either as Beijing is ranked sixth. What is interesting is that no Indian city figured anywhere in the list of top 20 cities having the most millionaires. But the country has made a mark when it comes to the number of billionaires. Is this then another indicator of income inequality in the country?

*in 2012
Data Source: The Economist

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