According to a recent report published by Henley & Partners in collaboration with New World Wealth, these are the wealthiest cities in the world by the number of resident millionaires. Cities that offer investment freedom, sophisticated financial infrastructure, and attractive lifestyle benefits are increasingly drawing mobile capital from around the world.
Notably, seven of the top 10 wealthiest cities are in countries that offer residence by investment programs, creating direct pathways for global investors seeking access to these prosperous urban centers.
1. New York City, USA
New York maintains its position as the world’s top city for millionaires, hosting 384,500 high-net-worth individuals. The city is home to 818 centi-millionaires (individuals with liquid investable wealth of $100 million or more) and 66 billionaires.
Despite its leadership position, New York now has fewer billionaires than the Bay Area.
2. San Francisco Bay Area, USA
The Bay Area, encompassing San Francisco and Silicon Valley, holds second place with 342,400 resident millionaires. This technology hub has experienced remarkable growth, with its millionaire population increasing by 98% over the past decade.
The region now hosts 82 billionaires, surpassing New York in this category.
3. Tokyo, Japan
Tokyo secures third place with 292,300 millionaires. The city’s wealth has been bolstered by the strong recovery of the Nikkei 225 over the past two years, solidifying its position among the global elite.
4. Singapore
Singapore ranks fourth with 242,400 millionaires. The city-state continues to attract wealthy individuals with its stable government, strong financial infrastructure, and investment-friendly policies.
5. Los Angeles, USA
Los Angeles has climbed to fifth place with 220,600 millionaires, including 516 centi-millionaires and 45 billionaires. The city has overtaken London in the rankings, demonstrating the continued strength of wealth in American urban centers.
Rebuilding is beginning after the recent LA fires and a poll by the UC Berkeley Institute of Governmental Studies found that most residents don’t plan to leave the area.
6. London, UK
London has fallen to sixth place with 215,700 millionaires, 352 centi-millionaires, and 33 billionaires. The city has experienced a 12% decline in its millionaire population over the past decade, making it one of only two cities in the top 50 to record negative growth.
7. Paris, France
Paris maintains its seventh position with 160,100 millionaires. The city remains a stronghold of European wealth despite challenges facing the broader European economy.
8. Hong Kong
Hong Kong has moved up to eighth place with 154,900 millionaires. This financial hub continues to attract wealth despite regional political tensions and competition from other Asian centers.
9. Sydney, Australia
Sydney has dropped to ninth place with 152,900 millionaires. Despite this slight decline in ranking, the city remains a significant wealth center in the Asia-Pacific region.
10. Chicago, USA
Chicago has entered the top 10 for the first time with 127,100 millionaires. The city has surpassed both Beijing and Shanghai, highlighting the strength of American urban wealth centers.
11. Milan, Italy
Milan ranks eleventh with 115,000 millionaires. The city continues to be a major European wealth center, particularly in fashion, design, and luxury goods.
12. Beijing, China
Beijing has fallen two places to twelfth position with 114,300 millionaires. Despite this drop, the Chinese capital remains a significant global wealth center.
13. Shanghai, China
Shanghai has fallen three places to fourteenth position with 110,500 millionaires. The decline in ranking reflects shifting patterns in global wealth distribution.
14. Dubai, UAE
While not in the top 10, Dubai (ranked 18th with 81,200 millionaires) deserves special mention as the fastest climber in the rankings, moving from 21st to 18th place in just one year. The city has seen its millionaire population grow by 102% over the past decade and is home to 237 centi-millionaires (those with liquid assets over USD 100 million) and 20 billionaires.
If you’re feeling flush, the tallest apartment building in the world is available to buy!
15. Shenzhen, China
Shenzhen (ranked 28th with 50,800 millionaires) stands out for achieving the highest growth rate in millionaire population, with a remarkable 142% increase over the past decade. As Asia’s premier tech hub, Shenzhen hosts global giants like Huawei, Tencent, and BYD.
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