Organizations classify the location of a wealthy individual in different ways, usually based on their commercial or not-for-profit objectives and a focus on an individual’s primary business or primary residential address. While these approaches avoid complications caused by double counting, they do not account for the fact that wealthy individuals often have multiple homes and business interests in multiple locations. This report measures the wealthy’s presence in cities without prejudice to double counting
An individual is termed a ‘primary resident’ of a city if the property they own privately (not via a company) is where they spend most of their time over the course of the year. This city, more often than not, is also where their primary business is based.
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