VIDEO: Where Multi Millionaire Ranks Are Growing Fast, And Faster
Ultra-high-net-worth individuals, who have more than $30 million in assets, are becoming more common these days. Where do you find them? WSJ’s Jason Bellini has #TheShortAnswer.
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Dazzling statistics, no doubt, but the fact remains, California with San Francisco and the Silicon Valley competing, combine together to out-distance New York. The primary reason New York as such high figures is more favorable to anonymity of ownership through LLCs and sub-LLC recordings where the actual owner (the money spender) does not show up.
New York Mayer Bloomberg wanted to attract billionaires and he did, especially to the high-rise wealth of condominiums who market to the strange world of outrageous income like Oligarchs, Royalty and Famous people. Anonymity is the driving force.