Wealth disparity in Silicon Valley

[Carnivore]

This guy cold win in NYC. He big on wealth redistribution. It is in his platform

Zohran Mamdani Has Awakened a Powerful New Political Force​

https://nymag.com/intelligencer/article/zohran-mamdani-south-asian-nyc-mayor.html

Lots of stuff he is saying he will do, he cant because much of it has to go through NY State Governor.

 

[Surf Cat]

 

[Carnivore]

No region matches Silicon Valley’s wealth disparity quite like Silicon Valley itself—but a few come close in different ways.


Here are some contenders:

Shenzhen, China​

• Rapid tech-driven growth has created massive wealth gaps
• Home to Tencent and Huawei, with billionaires living near factory workers earning $300/month
• Migrant labor and hukou restrictions deepen inequality

Bangalore, India​

• India’s tech capital, with booming startups and global IT firms
• Extreme contrasts: luxury high-rises next to informal settlements
• Wealth is concentrated in a small elite, while infrastructure lags behind

Miami, Florida​

• Rising as a crypto and finance hub
• High net worth influx has driven up housing costs
• Nearly 20% live below the poverty line, despite luxury development

Dubai, UAE​

• Glittering skyline masks deep labor inequality
• Expats and billionaires dominate wealth, while migrant workers face harsh conditions
• Income and legal rights are sharply stratified

Why Silicon Valley Still Stands Apart​

• Just 9 households control more liquid wealth than the bottom 50% combined
• Income inequality has grown twice as fast as the national average
• The region’s Gini Index is over 70, far above global norms

It’s not just the wealth—it’s the concentration, the velocity of tech profits, and the structural barriers that make Silicon Valley a global outlier.

 

[Fernando]

New York City has a higher concentration of wealthy individuals per capita than Silicon Valley.


Here’s how it breaks down:

️ New York City​

• Millionaires: ~350,000 residents have investable assets over $1 million
• Population: ~8.4 million
• Ratio: About 1 in every 24 residents is a millionaire

Silicon Valley (Bay Area)​

• Millionaires: ~305,700
• Population: ~7.8 million (Bay Area estimate)
• Ratio: Roughly 1 in every 25–26 residents is a millionaire

Contextual Notes​

• NYC leads globally in total millionaire count and density
• Silicon Valley has more billionaires (82 vs. NYC’s 60)
• Wealth in Silicon Valley is more concentrated—just 9 households hold more than the bottom 50% combined

So while Silicon Valley may have more ultra-wealthy elites, New York edges it out in terms of millionaire density. Want to dig into how these wealth hubs shape policy or inequality? I know that’s right up your alley.

Bay Area is much larger than NYC. Parts like Oakland isn't a high tech hub.
Uber one time bought a large building in Oakland and decided not to move there. Wasted their money.

 

[Fernando]

No region matches Silicon Valley’s wealth disparity quite like Silicon Valley itself—but a few come close in different ways.


Here are some contenders:

Shenzhen, China​

• Rapid tech-driven growth has created massive wealth gaps
• Home to Tencent and Huawei, with billionaires living near factory workers earning $300/month
• Migrant labor and hukou restrictions deepen inequality

Bangalore, India​

• India’s tech capital, with booming startups and global IT firms
• Extreme contrasts: luxury high-rises next to informal settlements
• Wealth is concentrated in a small elite, while infrastructure lags behind

Miami, Florida​

• Rising as a crypto and finance hub
• High net worth influx has driven up housing costs
• Nearly 20% live below the poverty line, despite luxury development

Dubai, UAE​

• Glittering skyline masks deep labor inequality
• Expats and billionaires dominate wealth, while migrant workers face harsh conditions
• Income and legal rights are sharply stratified

Why Silicon Valley Still Stands Apart​

• Just 9 households control more liquid wealth than the bottom 50% combined
• Income inequality has grown twice as fast as the national average
• The region’s Gini Index is over 70, far above global norms

It’s not just the wealth—it’s the concentration, the velocity of tech profits, and the structural barriers that make Silicon Valley a global outlier.

finance.yahoo.com/news/u-minting-millionaires-china-doesn-162014067.html?fr=sycsrp_catchall

The U.S. is minting millionaires: China doesn’t even come close, UBS says in global wealth report​

The U.S. now accounts for about 40% of the world’s millionaires, despite representing only 4% of the global population.

One key finding is that more than 680,000 new USD millionaires were added globally in 2024 alone, a 1.2% increase. The fastest rate of wealth growth occurred in Türkiye and the United Arab Emirates, with increases of 8.4% and 5.8%, respectively, but the big fish in the pond is the United States, which has the largest number of USD millionaires by far — more than Western Europe and Greater China combined. In fact, on average, the U.S. created over 1,000 new millionaires per day in 2024, adding 379,000 new millionaires over the course of the year, for a total of almost 24 million. Other notable increases came in mainland China, which saw an increase of 141,000 millionaires in 2024, an average of more than 380 per day, and India added 39,000 new millionaires, about 107 per day.

HARDEST IS MAKING THAT FIRST MILLION. AFTER THAT, IT'S EASY.