One out of every 22 New Yorkers is a millionaire, according to a study.
WealthInsight and Spear's looked at which cities have the highest percentage of millionaires, also known as millionaire density. Not surprisingly, the sovereign city-state Monaco had the highest percentage of millionaires. Nearly one in three people in Monaco is a millionaire (and the rest work for them).
"It's unsurprising to see that Monaco is the most likely place where you will bump into a millionaire; the principalities' low tax and Mediterranean waterfront is the ideal habitat for wealthy individuals," said WealthInsight Analyst Oliver Williams.