What's more, child poverty surged from 2021 to 2022, rising to 25% of children living in poverty, the report found. The findings conjure a stark contrast with the ultrawealthy in New York City, which, as of 2023, had the highest concentration of millionaires worldwide, with 340,000 millionaires, according to the London-based firm Henley & Partners. Alarmingly, this year's annual Poverty Tracker report observes the sharpest one-year increase in poverty we've found since launching the study in 2012. Buery cited the expired pandemic-era financial supports, such as the expanded child tax credit, as examples of the city's progress in the past. "We know that fully refundable tax credits, housing vouchers, and childcare subsidies can move millions out of poverty and hardship.

---

Persons: Robin Hood, we've, Richard R, Buery Jr, Buery, it's Organizations: Columbia University's, Poverty, Bronx ,, Henley & Partners, US, Senate Locations: New York, Bronx, Bronx , Queens, Brooklyn, New York City, London, York City