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But an overpriced home does not a high-net-worth individual make, and an annual study tallying up the wealthiest cities in the world by their number of liquid millionaires captures a more realistic picture of real wealth in three of Canada’s largest cities.
Still, a back-of-napkin calculation using population counts for census metropolitan areas, which include surrounding municipalities, shows Toronto had about 16 millionaires for every 1,000 residents, compared with 14.5 for Vancouver and 9.3 in Calgary.
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