Where do most billionaires live in Germany?
As one of the top financial hubs in the world and the wealthiest city in main Europe, Frankfurt is home to more than 117,000 millionaires, including 14 billionaires. Frankfurt stands out from other big German cities (Berlin, Hamburg) in terms of wealthy populations despite contributing less to the country's GDP.
Broadly speaking, southern Germany is richer than northern Germany, while the west is richer than the east. A new study by the Economic and Social Science Institute (WSI) of the Hans-Böckler Foundation has found that regional differences in income are still significant in the federal republic.
Three of the four biggest clusters of billionaires in the world are classic US destinations for the uberwealthy: New York City, Los Angeles, and the Bay Area, which includes the neighboring tech hubs of San Francisco and Silicon Valley. Nearly 163 billionaires reside in those three hot spots alone.
Charlottenburg The Charlottenburg district is the wealthiest and most commercialized in western Berlin. Along the famous Ku'Damm, which runs through it, you find the best concentration of hotels, restaurants, theaters, cafes, nightclubs, shops, and department stores.
#1: New York
New York is the wealthiest city in the world—home to 345,600 millionaires with a total private wealth that exceeds $3 trillion. New York is home to many Fortune 500 companies and is the financial heart of the United States, with the New York Stock Exchange and NASDAQ located in the Big Apple.
By region, Frankfurt came in second place in Europe, after London. NWW data suggested that the German city has 102.200 HNWIs, 170 centi-millionaires and 16 billionaires. The city in Hesse was the only German place to feature in the list.
Munich is the most affluent region in Germany, while Berlin is a vibrant hot pot of many different cultures and expats. Munich is very clean, quite expensive, you can experience a lot of traditional cultures, and the bavarian food & beer is quite famous throughout the world.
- Number 1 – Munich.
- Number 2 – Frankfurt am Main.
- Number 3 – Hamburg.
- Number 4 – Düsseldorf.
- Number 5 – Stuttgart.
While its per-capita productivity remains lower than that of West Germany, the former East Germany has made major gains since unification. In 1991, per-capita productivity in the former East was less than half (43%) of productivity in the former West.
An overwhelming majority (approximately 96 percent) of the top 1 percent are concentrated in major metropolitan areas such as San Francisco, Washington, DC, New York, and Los Angeles. However, a few outliers exist in suburban and even rural areas.
Which country is home to the most billionaires?
| # | Country | Number of Billionaires (2023) |
|---|---|---|
| 1 | United States of America | 735 |
| 2 | People's Republic of China | 495 |
| 3 | India | 169 |
| 4 | Germany | 126 |
New York, Tokyo and Paris are the top places favored by the ultra-rich to live, according to Knight Frank's 2022 Wealth Report, with London and Los Angeles next. The U.K. capital was ranked as the top place for lifestyle and investment.
Borchardt, Gendarmenmarkt
VIPs and celebrities tend to be concentrated in the downtown Mitte district.
While all the cool people stay at Berlin's friendliest hostel, most celebrities tend to stay at Hotel Adlon (Pariser Platz).
Industrial Revolution
Berlin became Germany's main rail hub and a center of locomotive manufacturing. The city became a leader in the manufacture of other kinds of machinery as well, and developed an important chemical industry sector.
1. Atherton, CA. The richest city in the US is Atherton, California. It has a median household income of $450,690, which is almost seven times higher than the average American household income of $69,021.
New York City
The Big Apple is home to 340,000 millionaires, 724 centi-millionaires, and 58 billionaires. It is the financial center of the USA and the wealthiest city in the world by several measures. It is also home to the world's two largest stock exchanges by market cap (the NYSE and the Nasdaq).
New York City was atop the list of the world's wealthiest cities with 340,000 millionaires. San Francisco's Bay Area beat NYC in the list of billionaires with 63.
Berlin is, of course, the number one place to find expats in Germany. For many, many years, Berlin has been home to international artists. But in recent years, the development of the tech industry has seen a growing number of expats move there.
Bochum, Bremen and Hanover among friendliest cities
From Schnauze to smiles, on the other end of the spectrum Bochum, Bremen and Hanover were deemed the top three most charming German cities.
What is the nicest city in Germany?
Munich. One of Germany's most famous cities hosts historic sites and buildings, outstanding tourist activities, green parks, castles, and more. The Bavarian city is known for castles and amazing forested surroundings (the views in winter are spectacular).
Munichtypically gets more sunshine so it, on occasion, is a bit warmer than Berlin in the summer, and Berlin, owing to its lower amount of sunshine, is typically a bit colder in the winter than Munich.
Due in part to the investment in man-made infrastructure like highways and rail networks along with natural transport networks like rivers, Northern Europe — defined here as France, Germany and the Netherlands — is considerably more developed and richer than Southern Europe.
When taking into consideration the cost of living in Germany vs. the U.S., Germany really comes out on top. And not just in comparison to the US. Germany's cost of living remains lower than many other countries at a similar development level.
According to the newly released SKL Happiness Atlas, Hamburg residents lead the ranking, with 7.16 out of 10 total points assessing their overall satisfaction. The northern city-state was followed by Frankfurt am Main with 7.07 points and Munich with 6.90 points.
Unlike in other countries, such as Denmark and Switzerland, there are no restrictions to foreigners to purchase real estate in Germany. Currently, many foreign purchasers acquire properties in large German cities such as Berlin, Frankfurt and Munich.
United States has a GDP per capita of $60,200 as of 2020, while in Germany, the GDP per capita is $50,900 as of 2020.
Comparing and Contrasting East and West Germany
Jaap Sleifer's book, Planning Ahead and Falling Behind, points out that the eastern part of Germany was actually richer than the western part prior to World War II. The entire country's economy was then destroyed by the war.
Germany is one of the world's largest economies and is currently at rank 4. If this is calculated per inhabitant, taking purchasing power parity into account, then Germany ranks 19th in the list of the richest countries. Inflation in Germany in 2022 was around 6.87%.
Cash equivalents are financial instruments that are almost as liquid as cash and are popular investments for millionaires. Examples of cash equivalents are money market mutual funds, certificates of deposit, commercial paper and Treasury bills. Some millionaires keep their cash in Treasury bills.
What is the richest suburb in America?
Loyola, Los Altos, California
The richest neighborhood in America is Loyola, California. The average household income in Loyola is $326,069, with the median income a little lower at $246,563. The median listing price is $3,899,000.
Geneva tops the list, with 144 super-rich individuals per 100,000 residents, followed by Swiss counterpart Zurich, with 71.
Thus, the richest countries in the world are those with the highest GDP per capita. Currently, the richest country in the world in terms of GDP per capita is Luxembourg, with a GDP per capita of $135,700. Other wealthy countries include Bermuda, Ireland, and Switzerland, all with GDP per capita above $80,000.
Billionaires. The communist-ruled People's Republic of China is set to show the highest growth rate for billionaires in the coming ten years worldwide. In 2027, the total is expected to stand at 697 individuals with net assets of $1 billion or more. India is in second place.
With 186 billionaires, California leads the country with the most ultra-wealthy residents. These billionaires mainly come from the technology and entertainment industries. California's wealthiest resident in 2022 was Larry Page.
While Silicon Valley and the New York metro area make up a big chunk of this list, the richest people in America also take up residences in Arizona, Florida, Colorado and Virginia.
Ultra-wealthy people looking for a tax break and an escape from winter have been flocking to Florida for years. More high-earners moved to Florida than to any other state between 2019 and 2020, per an analysis by SmartAsset of IRS data.
The UAE is the third-richest country in the world, below Luxembourg at number two and Qatar at number one, with a GDP per capita of $57,744. The bulk of its money comes from the production of goods and provision of services related to petroleum, petrochemicals, aluminium and cement.
Babelsberg remained the centre of German filmmaking for many years, became the largest film studio in Europe and produced most of the films in this "golden era" of German cinema. In essence it was "the German equivalent to Hollywood".
Number of foreigners in German federal states 2022
In 2022, North-Rhine-Westphalia had the most foreign nationals at over 3.1 million, followed by Bavaria with more than 2.3 million and Baden-Württemberg with around 2.1 million.
What do most people in Germany live in?
Germany has only four cities with a population of more than one million, Berlin, Munich, Hamburg and Cologne. But there are 11 Metropolitan areas which are the most densely populated regions. The biggest, and economically most important regions are: Rhine-Ruhr Metropolitan Region with Cologne as the largest city.
1. California
The most common city for people in entertainment to live in is (Duh!) Los Angeles—specifically Hollywood.
Unsurprisingly, more celebrities have holiday homes in France – specifically, the South of France – than any other European country. A-Listers that have called France home (at least some of the time) include Sir Elton John, Johnny Depp, and Emma Watson, who once owned a luxury chalet in the French Alps.
Internationality. Mitte is one of the most international neighbourhoods in Berlin. It's extremely popular among expat professionals and tourists.
Roughly 30,000 homeless people live in emergency accommodations and collective living facilities in Berlin. While around 6,000 live entirely on the street, no one knows the exact number. Many of them come from Poland, southeast Europe and Russia.
Con: Crowded City
Berlin is an incredibly crowded city. As the capital city of Germany, Berlin is home to over 3.6 million people. This makes the city feel crowded and congested, especially during rush hour. If you're not used to living in a big city, Berlin may be a bit too much for you.
60.000 euros a year in Germany is considered a good gross salary as it is well above the average salary of 47.700 euros a year for the whole country. Most Germans who earn 60.000 euros or more are very happy with their salary.
According to the index, the most expensive area in Germany is the municipality of Karlsfeld, situated just 12 kilometres from the centre of Munich.
Frankfurt is the wealthiest city in mainland Europe and one of the world's top financial centers that is the home of 117,400 millionaires, including 161 centi-millionaires and 14 billionaires.
Westend. The wealthy neighborhood. Westend is often liked by high class families and executives, normally working within the city's top companies.
Is there an upper house in Germany?
For its somewhat similar function, the Bundesrat is sometimes (controversially) described as an upper house of parliament along the lines of the United States Senate, the Canadian Senate, and the British House of Lords.
With around 40,000 millionaires, the Hanseatic City of Hamburg is one of the richest cities in Germany.
The major cities of a country tend to be the most expensive, and this holds true for Germany. According to Mercer Cost of Living ranking for 2022, the most expensive cities to live in are: Munich: Munich is the capital of Bavaria and surpasses Berlin as the most expensive place to live in Germany.
Berlin is, of course, the number one place to find expats in Germany. For many, many years, Berlin has been home to international artists. But in recent years, the development of the tech industry has seen a growing number of expats move there.
Bochum, Bremen and Hanover among friendliest cities
From Schnauze to smiles, on the other end of the spectrum Bochum, Bremen and Hanover were deemed the top three most charming German cities.
New York City
The Big Apple is home to 340,000 millionaires, 724 centi-millionaires, and 58 billionaires. It is the financial center of the USA and the wealthiest city in the world by several measures. It is also home to the world's two largest stock exchanges by market cap (the NYSE and the Nasdaq).
In broader terms, the finance and investment profession has the most millionaires. It also has the most billionaires, with 371. Here's a list of the seven best careers if you want to be a millionaire.
For a lot of people, Bogenhausen is the synonym of the „rich Munich“, which is absolutely true. You will find a lot of small castles and huge villas of the old aristocracy in this area and the real estate prices both for buying and renting are astronomic.
English speaking
Although in Frankfurt the main language spoken is German, many of the locals speak fluent English. Furthermore, it is occupied by many international expats, creating expat communities which make it easier for expats to find people with similar interests, speak the same language and make friends.
Mitte is the exact central part of Berlin, and it's where the history of the city is the richest. This means it also hosts a lot of the most famous monuments and tourist attractions. It's one of the most expensive neighborhoods in this part of Berlin but the housing in the area has always been really superior.
How many Americans live in Frankfurt?
| # | City | People |
|---|---|---|
| 2. | Munich | 6,705 |
| 3. | Hamburg | 3,880 |
| 4. | Frankfurt | 3,147 |
| 5. | Bonn | 1,823 |
