Richard Florida explores the rankings of the top global cities for the ultra-rich, as detailed in the 2012 Wealth Report released by real estate firm Knight Frank and Citi Private Bank.
If you're looking to find one of the reported 63,000 households worldwide with $100 million or more in assets, you'd be hard pressed to find a better location than London, New York, or Hong Kong, according to the new report, which also asked respondents to predict the most important cities in 10 years (the top two was unchanged, with Beijing replacing Hong Kong in third place).
According to Florida, the factors the study reports as driving the attraction of high-ranking cities to the "new global elite" are "personal safety and security" most, followed by "economic openness" and "social stability" which top "luxury housing" and "excellent educational opportunities."
Of course, there is a dark side to the expanding accumulation of capital by a global economic "plutonomy", notes Florida. "The rise of these protected enclaves is creating very real tensions between the very wealthy and more average city residents. Just one example - high-end apartments and townhouses in London and New York regularly top $50 million, pricing locals out of the market. It's no coincidence that London boiled over into riots last summer and that the Occupy movement was born on Wall Street."
FULL STORY: Where the Global 1% Live Now
On Public Transit, Some of the World’s Best Sightseeing
From Los Angeles to Hong Kong to Sydney, the best—and the cheapest—views are on ferries, buses, trains, and gondolas.
Around the Globe, Urban Diversity Is Alive and Well
It might feel like the world is shrinking as globalization expands, but many cities still have their individual characters and qualities.
Protecting and Growing Cultural Facilities in Expensive Cities
Independent cultural institutions provide so much of what make cities world class, and they are a big part of the appeal for people who choose to live in highly urbanized areas. These days, cultural institutions are having a hard time affording rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.
Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.
MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.
Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie