Toronto Has Been Ranked One Of The Richest Cities In The Whole World
Toronto was the only Canadian city that made it onto a list of the world's richest cities.
Toronto has officially been ranked among the richest cities in the world. In fact, according to a recent report from the Global Wealth Migration Review, it is the only Canadian city to place among this global elite.
Toronto was named the 13th wealthiest city in the world, which is pretty insane considering how many other cities it beat out for the title. Only four other North American cities also made the list: New York City, the San Francisco Bay area, Los Angeles, and Chicago.
According to the report, the total amount of wealth in Toronto amasses to $944 billion USD, which equates to around $1,243 billion CAD. It's almost impossible for an individual to conceive of so much private capital.
To explain the reason behind this massive wealth, the report writes, "Toronto is home to the 9th largest stock exchange in the world. Major industries include financial services, real estate, IT, media and telecoms."
As for the richest city in the whole world? That spot goes to New York City, a place where the sum of private wealth tops 3 trillion USD, or close to 4 trillion CAD. London came second and Tokyo came third.
Check out the full list of the top 15 wealthiest cities in the world:
- 1. New York
- 2. London
- 3. Tokyo
- 4. San Francisco Bay Area
- 5. Beijing
- 6. Shanghai
- 7. Los Angeles
- 8. Hong Kong
- 9. Sydney
- 10. Singapore
- 11. Chicago
- 12. Mumbai
- 13. Toronto
- 14. Frankfurt
- 15. Paris
You can check out the rankings and read the full report from the Global Wealth Migration here.