The 5 Cities the Most Billionaires Call Home

By Brittany Lyte on 24 December 2015 0 comments

Lured by favorable tax laws and fantastic views, the richest of the rich choose their backyards with precision. Read on for our roundup of some of the most popular locales for the luxe — and why so many of the globe's elite choose to call them home. (See also: 8 Jaw-Dropping Tax Havens of the Filthy Rich)

1. Moscow

More than 80% of Russia's 68 billionaires reside in the sprawling country's capital, making Moscow a mecca of wealth. The city center is dominated by gold-domed architecture, pricey eateries, and luxe hotels. Home of the Kremlin and some of the world's most exquisite ballet, Moscow offers impressive city parks, unique urban promenades, and a nightlife scene that rivals that of New York. Moscow is also full of culinary treats. Consider your visit incomplete until you've sampled the perogies and borscht.

2. Zurich

The average price of a pair of blue jeans in this Swiss banking hub is a staggering $156. Need we say more? Millionaires account for an astounding 27% of the population, pushing the price of everyday items like jeans nearly out of reach for everyone else. The city itself is concentrated on a fairly small footprint surrounded by mountains, rolling hills, and other feats of nature. It's entirely possible to spend the morning exploring city streets and art galleries, and then enjoy an afternoon hike alongside a serene lake or river.

3. Monaco

This city-state on the sea is the most likely place you'll bump into a millionaire. And with its posh casinos, glamorous hotels, and yacht-lined harbors, it's really no surprise. Monaco is a major center of banking as well as tourism, but it is most widely associated with being the ultimate playground for the rich and famous. With nearly 38,000 residents stuffed into soaring high rises and regal estates along a small area of the French Riviera, it is the world's second smallest and most densely populated country — and one of its most legendary tax havens. Monaco does not charge its elite residents income taxes.

4. New York

One in every 22 New Yorkers is a millionaire. And with 78 billionaires, the Big Apple has more uber-rich residents than any other city in the world. Home of the Statue of Liberty, Wall Street, and the best pizza on the planet, New York is chock full of iconic people and places just waiting to be explored. New York is also the global center of industries ranging from fashion to finance. Luckily, there are lots of frugal ways to enjoy the City That Never Sleeps.

5. Stamford

This waterfront enclave in yankee Connecticut is called "the city that works." Clearly, you've got to work pretty hard to afford living here. Stamford has one of the highest concentrations of millionaire households in the nation, with housing costs at more than double the national average. But with its easy access to NYC, views of Long Island Sound, and a bustling downtown, Stamford is one of Connecticut's jewels. This city of 126,000 people boasts a lively bar scene, small theaters, and several live recording studios where episodes of legendary television shows are filmed. Brimming with hedge fund types, Stamford is also home of the largest trading floor in the world.

Have you visited any of these hangouts of the mega-wealthy?

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