Toronto the rich? You'd never know it
Toronto Star|May 11, 2024
City of millionaires struggles to maintain infrastructure like roads, parks and transit
EDWARD KEENAN
Toronto the rich? You'd never know it

Toronto recently made No. 13 on a list of top 50 cities for millionaires around the world. Perhaps they can pitch in to fix it, writes Edward Keenan.

I knew a couple who ran a pizza joint in Washington. Previously they had, between them, lived in Scarborough, Central America, South Asia and the Middle East. Once, we were sharing our impressions of the U.S. capital city.

"It's a beautiful city," I said, then thinking of the sky-high cost of living there, added, "if you have the money to afford it."

She responded, "Every city is a great place to live if you're rich."

I thought of that conversation this week when Toronto was named to the "World's Wealthiest Cities" list from Henley & Partners, as determined by a simple count of the sheer number of rich people. It came to mind when I read the title above the list where Toronto sits 13th in the world (fifth in North America, first in Canada): "Top 50 Cities for Millionaires."

That's fine, I guess. I suppose it's reassuring to hear that at least 106,300 people in Toronto can maybe afford to shop for groceries. But the thing is, Toronto's goal here isn't (or shouldn't be) to be a "top city for millionaires." What we want to be is a great city to live in for everyone: the thousandaires and hundredaires and one-thin-dimeairs who make up the bulk of the population.

This story is from the May 11, 2024 edition of Toronto Star.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the May 11, 2024 edition of Toronto Star.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM TORONTO STARView All
A perfect fit
Toronto Star

A perfect fit

Meet the Toronto tailor to the stars who ensured Nicola Coughlan's look was ready for the red carpet

time-read
4 mins  |
June 17, 2024
Justin Trudeau's kitschy socks Doug Ford's ugly shoes
Toronto Star

Justin Trudeau's kitschy socks Doug Ford's ugly shoes

Social media's fashion Guy ranks Canadian politicians' style

time-read
6 mins  |
June 17, 2024
This summer, grow your mind to grow your wealth
Toronto Star

This summer, grow your mind to grow your wealth

There’s an amazing variety of personal finance books now; add just one or two of these titles to your summer reading list and I’m confident you’ll learn a trick or two about making progress on your money.

time-read
3 mins  |
June 17, 2024
Canada's tipping culture is a 'Wild West'
Toronto Star

Canada's tipping culture is a 'Wild West'

If he was speaking to a visitor or newcomer to Canada, Michael von Massow would struggle to describe our tipping culture to them.

time-read
4 mins  |
June 17, 2024
Building wealth, TOGETHER?
Toronto Star

Building wealth, TOGETHER?

Community savings groups can be useful, but they can hold you back from becoming financially literate. And then there are the scams

time-read
4 mins  |
June 17, 2024
Naylor named Canada's best, with assist from Votto
Toronto Star

Naylor named Canada's best, with assist from Votto

Josh Naylor accepted his first Tip O’Neill Award in the quiet of the Cleveland club-house, before the Guardians dropped Sunday’s rubber match of their series against the Blue Jays at the Rogers Centre, and the Mississaugan may well be on his way to a second.

time-read
2 mins  |
June 17, 2024
JUDE AWAKENING
Toronto Star

JUDE AWAKENING

Bellingham continues to emerge as England's superstar with game winner in Euro opener

time-read
3 mins  |
June 17, 2024
Tkachuk-McDavid scrum hints at tone for Game 5
Toronto Star

Tkachuk-McDavid scrum hints at tone for Game 5

Tensions between the Florida Panthers and Edmonton Oilers boiled over midway through Game 4 of the Stanley Cup final on Saturday night, with a post-whistle scrum featuring two of the most important players in the series.

time-read
1 min  |
June 17, 2024
A different perspective on winning
Toronto Star

A different perspective on winning

Nearly 30 years into his career, Maurice is chasing a goal he once thought had passed him by

time-read
3 mins  |
June 17, 2024
DeChambeau wins a dramatic duel with McIlroy
Toronto Star

DeChambeau wins a dramatic duel with McIlroy

The best sporting events — whatever the sport — are those in which opposing teams or individuals battle to the bitter end.

time-read
4 mins  |
June 17, 2024