More on the wealthy states within Australia The Australian Capital Territory (ACT) has the highest average income among Australian states and territories, due to its strong public administration and professional services sectors. New South Wales also has a high average income, higher than the rest of the states.
With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia's wealthiest city. It's also predicted to reach the top 5 wealthiest cities in the world by 2040.
The most advantaged Australians are overwhelmingly living by the water in Sydney, Perth, and Darwin. The most advantaged Australians are overwhelmingly living by the water in Sydney, Perth, and Darwin.
The richest states in the US are New York, Massachusetts, Washington, California, North Dakota, Connecticut, Delaware, Alaska, Nebraska, and Illinois. The richest state in America is New York, with a GDP per capita of $96,502.
Wealthy suburbs in Perth, Sydney and to a lesser extent Melbourne have the highest average incomes in the six figures, but when it comes to median or middle pay and investment income, Western Australia's Pilbara region tops the list.
State and territory
The Australian Capital Territory recorded the highest median total income ($68,325) and Tasmania the lowest ($47,909).
California is home to the most billionaires — not just in the US, but in the world, according to Forbes. Los Angeles, in particular, is a hot spot. Some billionaires there have names that light up Hollywood marquees, like director Steven Spielberg.
by state U.S. 2020. In 2020, California had the highest number of millionaire households in the U.S., with 1.14 million households having one million or more in investible assets.
Mungallala Methodist Church was built in 1964. It has now closed. In 2016, the Australian Taxation Office listed Mungallala as having the lowest mean taxable income by postcode, making it the poorest town in Australia, which led the ABC to do a documentary on the town for their online "storyhunters" program.
More than 80 per cent of Australians live within the coastal zone.
Australia has plentiful supplies of natural resources, including the second largest accessible reserves of iron ore in the world, the fifth largest reserves of coal and significant gas resources. For a long time, commodities have made up a sizeable share of our exports.
Loyola, Los Altos, California
The richest neighborhood in America is Loyola, California. The average household income in Loyola is $326,069, with the median income a little lower at $246,563. The median listing price is $3,899,000.
While Sydney topped the list of best cities to live, its position in other fields put it at fifth overall. See where other Australian cities ranked, and who took out the number one spot. Click through to see the top 20.
New York City topped the list with 136 billionaires in 2022. The city's uber-rich population lost two people from 2021 to 2022, but it's still the global billionaire capital.
Forbes' real-time data shows that as of June 2023, there are 47 Australian billionaires on the list of the world's richest people.
Billionaire, businessman and the chairman and chief executive of LVMH (LVMUY), Bernard Arnault holds the crown as the richest person in the world. According to Forbes, Arnault has a fortune of $234.5 billion.
#1: New York
New York is the wealthiest city in the world—home to 345,600 millionaires with a total private wealth that exceeds $3 trillion. New York is home to many Fortune 500 companies and is the financial heart of the United States, with the New York Stock Exchange and NASDAQ located in the Big Apple.
After maintaining the highest standard of community well-being for seven consecutive years, it comes as no surprise that the Australian Capital Territory (ACT) cemented itself as the best place to live in Australia.
Five of the country's top 10 richest towns are located in Western Australia, according to the latest census data, with Dampier taking the top spot with 22% of its residents earning more than $4,000 per week.