Daily English News 170 'The Big Golden Apple: The World's Richest City'

Learn English as a native speaker reads a daily new article.  Complete with vocabulary, example sentences, pronunciation, and comprehension questions.  Today we will discuss how New York is not only a very expensive city but also one filled with millionaires and even billionaires.  The article 'The Big Golden Apple: The World's Richest City'  is courtesy of www.engoo.com.  You can find this article https://engoo.com/app/daily-news/article/the-big-golden-apple-the-worlds-richest-city/iHJcVhaCEe-GzZv6SHGWqg
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Transcript

The Big Golden Apple: The World's Richest City

Vocabulary

Repeat each word, definition, and example sentence after your tutor.

symbol

Noun

ˈsɪmbəl

an object or shape that has a meaning or represents something

The Statue of Liberty is a symbol of freedom.

buzz

Verb

bʌz

to move in a quick or busy way

I saw Mark buzzing around the office about 20 minutes ago but I think he's gone for lunch now.

wealthy

Adjective

ˈwɛlθiː

having a lot of money or valuable possessions

The south of Africa is the wealthiest part of the continent.

investment

Noun

ɪnˈvɛstmənt

the action or process of putting money into something in order to make more money; the amount of money put into something, or the thing into which money is put

Andrea owns an apartment in New York as well as several investment properties.

gap

Noun

gæp

a difference between two situations, positions, etc.

The income gap between the richest and poorest Americans is getting larger every year.

earner

Noun

ˈɜːrnər

a person who makes money of a specified kind or level

Only the country's top earners will be affected by the new tax laws.

Article

The Big Golden Apple: The World's Richest City

New York is known for its yellow taxis. They're everywhere: pushing through the busy streets like bees.

They are a symbol of the city and there are more than 13,500 of them buzzing around the "Big Apple."

That's a lot of taxis. But there are some other things buzzing around the city and they aren't always quite so easy to see — millionaires.

The city of yellow taxis is also the city of millionaires, and according to a new report there are about 26 times more millionaires in New York than there are taxis!

The 2024 World's Wealthiest Cities report, by investment company Henley and Partners, says New York has almost 350,000 millionaires.

That number grew by 48% between 2013 and 2023, and there are also 60 billionaires in the city.

But like so many wealthy cities, the gap between the rich and the poor in New York is big, and it's getting bigger.

According to 2023 data, the top 20% of earners in the city make almost six times as much as the bottom 20% of earners.

New York is also the world's second most expensive city to live in.

There are 11 US cities in the top 50 wealthiest cities in the world.

The Bay Area, which includes San Francisco and California's tech area of Silicon Valley is second in the list. More than 300,000 millionaires live there, along with 68 billionaires.

Tokyo is third with 298,000 millionaires, although the Japanese capital has seen a small decrease in the number of millionaires over the last 10 years.

Exercise 3

Questions

Answer the following questions about the article.

1.

How many yellow taxis are there in New York?

1. A.
2. More than 13,500
   Correct
   
   
3. B.
4. More than 16,000
   
   

2.

How many billionaires does New York have?

1. A.
2. 30
   
   
3. B.
4. 60
   Correct
   
   

3.

How many US cities are in the top 50 wealthiest cities in the world?

1. A.
2. 15
   
   
3. B.
4. 11
   Correct
   
   

4.

What are your thoughts on the 2024 World's Wealthiest cities report?

5

Do you find it surprising that New York has close to 350,000 millionaires?

6.

Have you been to New York? If so, what did you think of it? If not, would you like to visit someday?

7.

Which of the cities mentioned in the article would you most like to visit?

8.

What are your country's wealthiest cities?