According to Investopedia, Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a countrys borders in a specific time period. In this case, we are looking at the GDP of metropolitan statistical areas, and not countries. San Mateo, like many other metro cities on our list, has a well-educated workforce and a favourable employment environment. When determining the GDP, the UN classifies 3 methods to determine it: City proper, urban area and metropolitan regions.. Our numbers for the richest cities in the world are based on the metropolitan statistical region. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. It sits at the midway point between Denver and Colorado Springs, which would be the states largest and second largest cities. 1. Check the list below if you are looking for the richest cities in the US. With over 50% of adults bachelor graduates or higher, this area is one of the few in the country with over half of their adults highly educated. After all, virtual worlds have been around since before the popularization of the Internet. Napa is a tiny city with a population of fewer than 150,000 people, located just north of the San Francisco Bay, which is home to numerous other metro areas on this list. Since ceding his seat on the retailers board to son Steuart in 2016, the richest of the Walton heirs has remained focused on running the familys Arvest Bank, which will funnel a sliver of its $27 billion in assets to a University of Arkansas football player as part of a name, image and likeness (NIL) deal announced in August. America's 100 Richest Places. Fairfax County is very populous, so much so that it is the most populous part of Virginia, the Washington metropolitan area, and even the Washington-Baltimore metropolitan area. Other profitable sectors include information technology, medical technology, retail, financial and legal sectors. For instance, Osaka is home to major electronics corporations like Sharp and Panasonic as well as pharmaceutical companies, food, retail and trading companies. 5,104) over $200,000: 2. Most of these areas have prominent tech and professional fields, and high-paying industries like finance, legal, and management. Unemployment Rate: 3.9%. Eventually, Calvert died of fever in Naples, which happened because he had left England after a rape trial had left his reputation in rightful tatters. Industries critical for L.A.s economic success include entertainment, international trade, gaming, tourism, fashion and more. With a median household income of $114,696, it is the second richest city in the US. With a low unemployment rate of 2.7%, it is no surprise that the San Jose metro area is first on this list. The types of jobs available often determine income levels. Known as a center of learning due to the many high caliber universities in the city such as Osaka and Kansai universities, Osaka attracts creative and innovative industries. Almost 36% of individuals have earned a bachelors degree. Indianas wealthiest folk tend to prefer smaller, more relaxed cities, Read More The 10 Richest Cities in IndianaContinue, If youre looking for a new place to live or even a place where you can just invest in some real estate, you might be thinking only about large cities. The unemployment rate is also 2.7%, one of the country's lowest. The median household income in Santa Cruz is $89,269, which is more than the national median income in all but a dozen metro regions. Located in San Mateo County, the city has the best restaurants, parks, shops, and most importantly, an excellent schooling systemno wonder most affluent families choose to settle down in this wealthy town. Because the cost of goods and services in Santa Rosa is around 21% more than the national average, the typical family income is only approximately $66,500, which is just slightly more than the national median annual family income of $60,336. Historically speaking, people were interested in the region because its rich soils produced bountiful harvests. A big economic draw for San Francisco is its close proximity to Silicon Valley. Only 2.7 per cent of local employees are unemployed, about a full percentage point lower than the national unemployment rate of 3.8 per cent, which is close to a historic low. Because many low- and middle-income residents have been priced out of the neighbourhood, the median household income is high, and unemployment is low. She has contributed at least $1.5 billion in cash and Walmart stock to her Art Bridges foundation since 2016. The report said 623 have assets worth at least $100 million and 62 billionaires live in the city. Americans invest the majority of their non-financial assets in real estate. In comparison to the national average of 32.0 per cent, over half of all individuals in the metro region hold a bachelors degree or above. It secures ninth place with a median household income of $78,612, and 11.0% making 200,000 or more. Here are the top 10 richest places in the U.S., according to Bloomberg: 1. In 2016, approximately 104,000 degrees were given by post-secondary schools in the metro region, including Harvard, MIT, and Northeastern. Tourism is another major contributor to the economy of Philadelphia. In the cities that made this list majority of people have made it there, financially. Its the state capital and most populous city, after all. Since her 2019 divorce from Jeff Bezos, Scott has been dropping billions at breakneck speed. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. The fifth wealthiest place on this list is the second wealthiest in New England, with 13.1% of households earning $200,000 and a 3.4% jobless rate. Unfortunately, San Francisco is also a reminder that numbers mean very little without their proper context. Fortune Global 500 companies include SK Holdings, POSCO, LG Electronics and more. Like San Francisco County, Santa Clara County has benefited much from Silicon Valley. The median household income in the United States in 2018 was $61,937. 2,047) The majority of properties in the metro region are valued at more than half a million dollars, put it out of reach for many low-income Americans. This large metropolitan area has a history of being the hub of Germanys heavy industry sector. Here's a closer look at the 20 richest people on the 2022 Forbes 400 list of wealthiest Americans (net worths are as of September 2, 2022): Elon Musk Liesa Johannssen Koppitz/Bloomberg 1.. Others on the fastest-growing list include Lugano, a Swiss hotspot for affluent retirees, Bengaluru, the 'Silicon Valley of India', and Hangzhou, one of China's most scenic cities. 1 spot. In July, Gates announced he was shifting $20 billion of his fortune to the Bill & Melinda Gates Foundation. . If divided evenly, each household would have over $343,000, which is not the case. Another unique location to the rest of the nation places seventh. Additionally, the top 100 richest cities in the United States have quality school systems and proximity to city centers or high-profile companies such as Google or Facebook. Only five metro regions in the United States have a majority of households earning at least $94,430 a year. Check out this fascinating list of richest families in the US. Although it may sound like another Cali metro for the fourth time on this list, the wealthiest metro area, located in Maryland, secures the tenth spot. Alexandria also boasts the second-highest share of the workforce in the US in high-paying professional fields. As a suburban area, it should come as no surprise to learn that it is also home to numerous people who work for one part of the U.S. government or another. Walton briefly worked for Walmart as a buyer of childrens clothes in the 1970s but has since focused on philanthropy and collecting artmuch of it housed at her Crystal Bridges Museum of American Art in the familys hometown of Bentonville, Arkansas. Manufacturing and processing, renewable technology, and life sciences are all promising industries in the region. Walmart shares have lost 11% of their value over the last year as higher costs have dented the companys profits. The Forbes Philanthropy Score 2022: How Charitable Are The Richest Americans. Cisco, eBay, Adobe, PayPal, Samsung, Acer, Hewlett Packard, and Zoom are just a few examples. Musk denied the allegation. How Long Does it Actually Take to Fix and Flip a House? The public schools of Fairfax County, of which McLean is a part, have earned a national reputation for excellence. Originally, Broomfield was situated in Boulder County's southeastern corner. Despite suffering a tough downturn due to the pandemic, Shanghai remains one of the worlds richest cities. The table shows the 100 wealthiest zip codes in the United States based on IRS figures for Adjusted Gross Income. Having overtaken Amazons Jeff Bezos as the worlds richest person just weeks after last years Forbes 400 was finalized, Musk is now $100 billion richer than his space rival, whose fortune fell by $50 billion, the second-biggest drop among this years 400. The wealthiest of Hawaiis two metro areas, Urban Honolulu also faces the highest cost of living out of all major metro areas in the US. A citys median household income is influenced by a number of things. Zhongguancun is considered the Silicon Valley of China and is deeply rooted in the electronics and high-tech industries such as Microsoft, Sony and Google. While COVID-19 had a severe influence on Santa Cruzs economy in 2020, the tourist sector often provides a significant boost to the citys economy. Cities and towns with ties to Wall Street and the Silicon Valley, . In pre-Covid times, Chicago clocked round 55 million tourists in 2017. San Francisco is one of just two metro regions in the United States where the majority of households earn more than $100,000 a year. Knocked from the top spot for the first time since 2017, the Amazon founder and chairman saw his net worth drop $50 billion as the e-commerce giants shares tumbled more than 20%. By this point, interested individuals should have no problem guessing which metropolitan area Morris County belongs to. In March, Berkshire Hathaway agreed to shell out $11.6 billion for insurer Allegheny Corp. In other words, the city produces poor copies of everything from designer fashions to scooters. Santa Rosa is a half-million-person metropolis about 50 miles north of San Francisco. Two of those counties are Kings and Queens, which double as boroughs of New York City. The top ten richest cities in the United States are: Atherton, CA ($450,696) Scarsdale, NY ($417,335) Cherry Hills Village, CO ($394,259) Los Altos Hills, CA ($386,174) Supposedly, Forsyth County has been seeing huge growth because of its affordable homes, its excellent amenities, and its proximity to high-paying jobs. Thanks to that, Stafford County is also one of the richest and best-educated counties in the country. According to the Economic Policy Institute, the richest 1% in Bridgeport-Stamford-Norwalk earn 62.2 times more than the bottom 99 per cent. Honolulu is the richest city in Hawaii and the ninth wealthiest in the United States. Accessibility to a city center is typically a key characteristic of the cities on the list. For proof, look no further than MUDs and MUSHes, both of which are still, Read More Should You Invest in Virtual Real Estate?Continue, Like any major city, Dallas is divided into neighborhoods and suburbs. Its been a wild year for Musk, who became the first person worth $300 billion in November, before Tesla shares slid amid the broader market selloff and investor fears of a distracted CEO after Musk agreed to buy Twitter for $44 billion. The majority of households in the metro region make more than $87,828 a year, and one out of every ten makes more than $200,000. In contrast, Nassau County shares the last third with Kings and Queens. A massive powerhouse in Seoul is Samsung. Fortune Global 500 companies in Tokyo include: Honda Motors, Hitachi, Sony, Mitsubishi and more. Finally, London hosts some of the most prominent Fortune Global 500 companies such as Lloyds Banking Group, Prudential, J Sainsbury, BP, Tesco and Vodafone Group, among others. The states Atlantic coast is to the east, while the Gulf of Mexico coastline is to the west. Most metro area households make at least $87,470 per year, with more than one in ten earning more than $200,000. The metro region has a well-educated workforce (almost 44% of persons in the metro region hold a bachelors degree or above) as well as a number of high-paying businesses. Some of the stores were also victims to the series of mass looting incidents that plauged major cities in 2021 and 2022. . Meanwhile, Montgomery County is one of the counties that make up the Washington-Baltimore metropolitan area. Seoul is a gorgeous city and the economic hub of South Korea. Supposedly, one of the reasons for Williamson Countys high income is the number of musicians and other well-known individuals who have homes in the region. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million, How Bebe Rexha Achieved a Net Worth of $10 Million, The 20 Worst Cities for Human Trafficking in the World. The median home value is $444,500 with the median household income of $97,053. A typical property in sunny San Francisco will set you back around $1 million, but thats not such a lofty request given the average household earns six figures. ; s southeastern corner 444,500 with the onset of free-market reforms in the region because its soils. On this list majority of people have made it there, financially large metropolitan area accessibility to city..., one of the richest city in the United States based on IRS figures for Gross! And second largest cities area has a well-educated workforce and a favourable environment! 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