One in 24 NYC residents is now a millionaire: report

New York City, now home to 350,000 millionaires, has seen a 48% increase in its millionaire population over the past decade, making it the city with the highest number of millionaires globally. Despite an exodus during the pandemic, where many wealthy individuals moved to Florida, NYC's total wealth remains robust at over $3 trillion. The city's financial growth is largely attributed to a booming stock market, with global equities surging significantly in recent years.