London now has more multi-millionaires – individuals with a net worth of over $30 million – than any other city in the world. According to figures published last year by the WealthInsight Intelligence Center Database , London’s multi-millionaires now number 4224, comfortably ahead of closest rivals Tokyo, Singapore and New York. London is currently home to 281,000 millionaires.
How much is a London Multimillionaire worth and where are they based?
The average wealth of a London mutli-millionaire is $160 million. Typically they are entrepreneurs who have started developed and sold their companies – or retain share ownership. Interstingly they are now more likely to be based in Mayfair, Soho and Oxford Street than they are in the City, the capital’s financial centre.
London: low risk property and commercial investment
As CEO of Nine – a boutique concierge club , catering to the wealthy, but time-poor, I anticipate that more and more financially-savvy individuals from abroad will look to London as a relatively risk-free place to invest in property and commerce – as well as being a great place to live. Most German millionaires now live in London, for example.
The need for a personalised concierge service
I foresee a continued increase in demand for the type of highly personalised concierge and lifestyle management services that we offer at Nine. Our end goal is quite simply to streamline an individual, company or family’s existence enabling them to increase productivity and focus and excel in other areas of life. Clearly there is huge demand for these services within London’s multi-millionnaire community, and I see no sign of that growth abating.