More Mega Millionaires In SF Than Ever Before
SAN FRANCISCO (CBS SF) — The most expensive metro area in the U.S. is worse than Rwanda and Zimbabwe, and almost as bad as Guatemala and Suriname when it comes to the “haves” and the “have nots” according to San Francisco’s Human Services Agency, reviewing dozens of economic factors, including the “Gini Coefficient.”
The coefficient, or index when used on a scale from 0 to 100 is used by the World Bank and CIA among other agencies. It gives a region a “0” if there is complete income equality, and a “100” if there is complete inequality. The U.S. has a Gini index of 42. San Francisco scored 52.3. Rwanda and Zimbabwe each have an index of 51 and 50 respectively.
The numbers, while not factoring in all the services that exist in the U.S. and especially San Francisco to deal with the poor, still paint a bleak picture of how income is dispersed.
The agency also found for every thousand people in San Francisco, there are 7.3 people with a net worth over $30 million.
In New York, the second most expensive metro region in the nation, that number is only 1.3 in a thousand.