May 10, 2013

東京は世界で最も億万長者が多い街:Tokyo - City with the most millionaires

MORE millionaires live in Tokyo than in any other city, according to a new report from WealthInsight, a consultancy.  -Daily chart: Cities and their millionaires | The Economist

Well, if you look at the billionaire numbers, NYC (70) comes first, followed by Moscow (64), London (54), Hong Kong (40), Beijing (29), Shanghai (23), Paris (22), LA (19), Chicago (15), Singapore (13), and Tokyo (12) is far, far behind.  So is Osaka (#7 millionaires / #22 billionaires).

Here's why; you (even Empress Michiko) cannot accumulate your fortune over two generations in Japan.  If you transfer your assets to your children while still alive, you'll be hit with gift tax of 50%.    If you die, your children will still be hit with inheritance tax which is, again, an eye-popping 50%.    Oh, by the way, the rate is set to be increased by 5% soon, haha!

Japan is more socialist than Russia and China combined.





[Wealth Insight via The Economist]


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