London has more dollar millionaires than New York

One in 10 Londoners hold assets worth more than 720,000 as Covid crisis makes the rich richer

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London has overtaken New York as home to the highest concentration of dollar millionaires in the world, according to a report that reveals how much money the very richest people in the world have made during the coronavirus pandemic.

Nearly 875,000 Londoners are dollar millionaires (denoting assets worth more than 720,000), according to an annual study of the fortunes of the world's wealthiest people by the property consultants Knight Frank.