Overview
This report, which focuses on the world’s wealthiest and fastest-growing cities with high concentrations of millionaires, multimillionaires, and billionaires, is crucial reading for anybody interested in private wealth and patterns in wealth mobility.
According to a recent analysis by Henley & Partners, the world’s wealthiest cities were determined by looking at the population growth of millionaires. The study examined the spending habits of over 150,000 high-net-worth individuals (Unwise) from 97 global cities, with a focus on those with titles such as director, CEO, chairperson, and founder.
The world’s most prosperous and quickly developing cities are highlighted in this research, which is essential reading for anybody keeping an eye on trends in private wealth and wealth mobility. These cities are home to a sizable population of millionaires, multimillionaires, and billionaires.
City of New York
With 340,000 millionaires, 724 cent-millionaires, and 58 billionaires, New York City tops the list. Then there are post places, like Manhattan’s Fifth Avenue, and financial centers, such Brooklyn, Queens, Staten Island, Manhattan, and the Bronx.
Tokyo
Tokyo is home to 290,300 millionaires, 250 multimillionaires, and 14 billionaires. The city also has the headquarters of several large firms, including Hitachi, Mitsubishi, and Honda. Tokyo does not have as many billionaires as some other cities, but its wealth distribution is more even.
The Bay Area
San Francisco and Silicon Valley, which are home to some 285,000 millionaires, 629 cent-millionaires, and 63 billionaires, complement this location. Tech behemoths including Cisco, Apple, Facebook (Meta), Google (Alphabet), Intel, and others call it home as well.
London
With 258,000 millionaires, 384 cent-millionaires, and 36 billionaires, this city tops the list of all millionaires in the world. Exotic residential suburbs including Belgrade, Homestead, Chelsea, Knights bridge, Mayfair, and others are located inside the metropolis.
Singapore
Renowned for its conducive economic climate, Singapore draws migrant millionaires; in 2022, around 2,800 wealthy individuals moved there. The city currently counts 27 billionaires, 329 multimillionaires, and 240,100 millionaires among its population.
Los Angeles
Los Angeles is a significant center for the tech, real estate, media, entertainment, and retail industries. Along with having affluent neighborhoods like Malibu and Beverly Hills, it is also home to 42 billionaires and 480 multimillionaires.
Hong Regime
In addition to being home to 32 billionaires, 290 multimillionaires, and 129,500 millionaires, Hong Kong is a major hub for the worldwide financial sector. This city is renowned for its wealth as well.
Beijing
Beijing has 354 cent-millionaires and about 43 billionaires, which is a noteworthy number among Asian cities on the list. This city’s prosperity is attributed to the fact that it is home to some of the biggest corporations in the world.
Shanghai
This metropolis, which is home to some 127,200 millionaires, 332 cent-millionaires, and 40 billionaires, had an astounding 72% increase in the number of high-net-worth individuals between 2012 and 2022. In addition to being the financial center of China, it is home to the Shanghai Stock Exchange, the third-biggest stock exchange in the world.
Sydney
Sydney, the well-known city in Australia, maintains its standing as one of the world’s most affluent cities by making the coveted top 10 list. There were an astounding 126,900 millionaires listed, along with 184 cent-millionaires and a whopping 15 billionaires.