Where in the World Do the Ultra-Wealthy Live?
A significant portion of the world’s wealth is in the hands (or bank accounts, rather) of a small group of ultra-wealthy individuals.
And just like their wealth, these UHNW people are concentrated in a small, select number of cities across the globe.
But where, exactly, can you find these ultra-wealthy people? Using data from Wealth-X, here’s a look at the top 10 cities with the highest UHNW populations:
|Rank||City||UNHW Population (2019)|
It’s worth noting that six of the top 10 UHNW cities are in America. This may not be surprising, considering the U.S. is the world’s largest wealth market—it holds over 29% of the world’s wealth.
Where are the German and Chinese Cities?
Something else worth noting is the absence of German and Chinese cities, which is surprising given they both made the top 5 UHNW populations when it came to country rankings:
|Rank||Country||UHNW Population (2019)|
|1||🇺🇸 United States||93,790|
Why didn’t Germany or China make the cut? While these countries have strong economies overall, private wealth is more evenly dispersed across their urban centers compared to other countries.
On a final note, it’s important to mention that this data is from 2019, before the global pandemic. And since the UHNW populations haven’t been immune to the economic impact of COVID-19, it’ll be interesting to see which cities make the rankings next year, based on 2020 figures.
» Interested in global wealth and its distribution worldwide? Take a deep dive into global wealth with this article: Mapped: The World’s Ultra-Rich, by Country
On the Decline: A Look at Earth’s Biodiversity Loss, By Region
Earth’s biodiversity has seen a significant drop over the last few decades. But the rate of biodiversity loss differs from region to region.
Visualizing the Decline of Earth’s Biodiversity, By Region
Earth’s biodiversity has seen an overall decrease across the globe. And while each region has seen a decline, some places have experienced higher drops than others.
Using data from WWF’s Living Planet Report 2020, we’ve ranked each region from the greatest average loss in biodiversity, to the least:
|Rank||Region||Average decline (between 1970 and 2016)|
|1||Latin America & Caribbean||94%|
|5||Europe and Central Asia||24%|
Latin America and Caribbean has seen the most loss, with a 94% drop in average species populations, while Africa comes in second with a 65% drop.
The 5 Major Threats for Biodiversity Loss
While the rate of loss varies across regions, WWF has identified five major threats that are linked to drops in species populations across all regions:
- Changes in land-use and sea use
This threat refers to any changes in a species habitat, caused by mining, development, unsustainable agriculture, etc.
- Species overexploitation
There are two types of species overexploitation—direct and indirect. Direct is when a species is intentionally hunted. Indirect happens when a species is unintentionally killed (an example would be by-catch in fisheries).
- Invasive species and disease
This threat impacts species populations in several ways. Invasive species may spread diseases or may become predators to native species that are not equipped to defend themselves.
Pollutants can have both gradual and instant effects on a species. For example, an oil spill has an instant effect on a species’ environment. But other pollutants, such as microplastics, have a much more gradual impact on species health.
- Climate Change
This threat has an indirect impact on species. Changes in temperature as a result of climate change can trigger irregular season changes, which can affect natural phenomena like migration and mating seasons.
»Interested in learning more about Earth’s biodiversity, and some of its biggest threats? Read our full article Visualizing the Biggest Threats to Earth’s Biodiversity
Over Half of U.S. Young Adults Now Live With Their Parents
Today 52% of young adults aged 18-29 live with their parents. Economic and societal factors have played a part in addition to the COVID-19.
Over Half of U.S. Young Adults Live With Their Parents
In the last few decades, young adults have faced harsh economic realities—from the financial crisis in 2008 to this year’s global pandemic, both triggering catastrophic losses in jobs and financial stability.
And while the widespread effects of COVID-19 have yet to be fully captured, young adults are already now living with their parents to a greater degree than witnessed in 120 years—surpassing even the Depression-era generation.
|Decade||% Of Young Adults (18-29) Living With Their Parents|
Young adults today are categorized as either late Millennials and Gen-Zers. For them, COVID-19 has just been another addition to the list of financial hardships they’ve been up against, such as a precarious job market and the rising cost of living.
Failure to Launch: But Why?
There are a few possible factors that could explain the increase in young adults living with their parents.
1. The lackluster job market
The barista or server with multiple degrees has become a common portrayal of the struggling millennial. Despite the less than rosy outcomes, it has not been for want of trying. Younger people today are actually the most educated generation in history. Unfortunately, a degree does not map out a path to success the way it did for prior generations.
2. Tying the knot later
Today, people get married nearly a decade later than prior historical averages, and many young adults are opting to stay with their parents until they tie the knot. It’s also worth noting that as time goes on, young adults are getting married at lower rates than in the past.
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