The world’s wealthiest cities based on the fastest-growing millionaire populations are revealed in a new report by Henley & Partners. For compiling the list, more than 150,000 high-net-worth individuals (HNWIs) from 97 cities around the world were tracked. To figure out which cities would make the cut, the firm analyzed wealthy individuals with work titles like founder, chairperson, CEO, and director.
Here’s is the top 10 wealthiest cities list
1. New York City
With 340,000 millionaires, 724 centi-millionaires, and 58 billionaires, New York City is at the top of the list. In the city of Manhattan, which is made up of Manhattan, Staten Island, Bronx, Brooklyn, and Queens, you’ll find some of the best exclusive streets, like 5th Avenue.
2. Tokyo
There are 14 billionaires in Tokyo, 290,300 resident millionaires, and 250 centi-millionaires. Multinational corporations like Hitachi, Honda, Mitsubishi, Softbank, and Sony are all headquartered here. Even though the Japanese capital has fewer billionaires than other cities on this list, it shows wealth is evenly distributed, since most of the capital is controlled by low-income millionaires.
3. The Bay Area
Silicon Valley and San Francisco make up the Bay Area. There are 285,000 millionaires, 629 centi-millionaires, and 63 billionaires in the region. There’s Apple, Cisco, Facebook (Meta), Google (Alphabet), HP, Intel, and LinkedIn there, so it’s home to some of the top tech companies in the world.
4. London
In 2000, London was at the top of the list when it came to millionaires. Now, it ranks fourth. There are 258,000 millionaires, 384 centi-millionaires, and 36 billionaires in the city. Even though times have changed, Belgravia, Chelsea, Hampstead, Knightsbridge, Mayfair, Regents Park, and St. Johns Wood are still among the most coveted residential suburbs in London.
5. Singapore
Singapore is popularly known as a business-friendly city and is a top destination for migrating millionaires. According to the latest Henley Wealth Migration Dashboard, close to 2,800 high-net-worth individuals moved to this city in 2022. As of now, it is home to 240,100 millionaires, 329 centi-millionaires, and 27 billionaires.
6.Los Angeles
Beverly Hills and Malibu, which have 480 centi-millionaires and 42 billionaires, are the richest cities in Los Angeles.
7. Hong Kong
Many of Asia’s wealthiest are based in Hong Kong. There are 129,500 millionaires, 290 centi-millionaires, and 32 billionaires here. Mount Nicholson Road is Hong Kong’s most expensive street.
8. Beijing
China’s capital is also the home of some of the world’s largest companies. China’s capital has 43 billionaires, which is a lot more than any other Asian city on the list. There are 354 centi millionaires and 43 billionaires living there as well. There’s a lot of wealth in Beijing around Chaoyang Park.
9. Shanghai
Shanghai has 127,200 millionaires, 332 centi-millionaires, and 40 billionaires, the highest number of high net worth individuals on the list. Between 2012 and 2022, the number of HNWIs increased by 72 percent. As the financial capital of China, Shanghai is home to the third largest stock market in the world.
10. Sydney
The only Australian city on the list was Sydney, which houses 126,900 resident millionaires, 184 centi-millionaires, and 15 billionaires. The most exclusive residential suburbs in the world, all of which belong to Sydney, include Bellevue Hill, Darling Point, Mosman, Point Piper, and Vaucluse. By 2040, the city is anticipated to become one of the top five wealthiest cities in Asia Pacific.