London has officially been titled the 'millionaire capital of the world'- housing more of the world's wealthiest than New York and Tokyo.
A study by New World Wealth revealed that almost three per cent of the city’s population have net assets worth more than £593,000.
Two per cent of people living in Tokyo and 1.6 per cent of New Yorkers boast the same fortune as London.
Hong Kong, Singapore and Los Angeles were ranked in the top ten.
London has the third highest number of multimillionaires with 9,700 people living in the capital boasting at least £6 million in assets, the organisation also found.
Hong Kong topped the table with 15,400 multimillionaires and New York came second with 14,300.
Luxury goods databases, figures on prime property, private jets and yacht buyers, plus public director sand company information, was used to compile the list.
Last month, another study suggested the total wealth of London’s richest was about £763 billion.
Research shows the number of multimillionaires worldwide has increased by 71 per cent in the past decade.