New York City in the world at 103, including former Mayor Michael Bloomberg. New York also had the highest density of millionaires per capita among major U.S. cities in 2014, at 4.6% of residents. New York City is one of the relatively few American cities levying an income tax (currently about 3%) on its residents. New York is a global hub of business and commerce. The city is a major center for banking and finance, retailing, world trade, transportation, tourism, real estate, new media, traditional media, advertising, legal services, accountancy, insurance, theater, fashion, and the arts in the United States; while Silicon Alley,
Silicon Wadi 2010, more than 35,000 personnel were employed in multinationals research and development centers across Israel. In recent years, East Asian multinationals and investors, especially from Mainland China, have actively invested and opened up offices in Israel, including Chinese technology giants such as Alibaba, Baidu, Tencent and Kuang-Chi. Around 60 foreign R&D centers are engaged in a diverse range of activities including biotechnology, chemicals, industrial machinery, communication equipment, scientific instruments, medical devices, flash memory storage equipment, computer hardware components, software, semiconductors and internet. Silicon Wadi Silicon Wadi (, lit: "Silicon Valley") is an area with a high concentration of high-technology companies