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Millionaire’s in Canada; Which City Has The Most?

According to WealthInsight, the number of millionaires in Canada jumped by 8 per cent in 2012. The consultancy firm issued a report which stated the number of high net worth individuals (with assets of $1 million U.S. or more) in Canada grew to 422,000 in 2012, accounting for about 1.2 per cent of the population.

The millionaires control about $1.53 trillion in assets, or about 26 per cent of the privately held wealth in Canada.

So where are the 422,000 millionaires hiding? We’re not exactly sure, but what we do know is the vast majority are hanging out in Toronto. Here’s a breakdown of which Canadian cities hold the most millionaires:

  1. Toronto: (118,000)
  2. Montreal (52,000)
  3. Calgary (32,000)
  4. Vancouver (25,000)
  5. Edmonton (14,000)

Toronto ranked 15th in the world for the number of multi-millionaires and put it in the same league as Los Angeles (126,000). (See also: 604 Is Home To 2 Of The 10 Wealthiest Canadians & The most expensive homes in BC)

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