Top millionaire cities
When it comes to the number of resident millionaires, cities in the USA and China dominate the World’s Top 10 Wealthiest Cities list.
Only one European city, London, made it on to the 2023 list published recently by international investment migration firm Henley & Partners, in conjunction with global wealth intelligence firm New World Wealth.
New York City wears the crown as the wealthiest in the world with 340,000 millionaires, while the San Francisco Bay Area and Los Angeles rank third and sixth, with 285,000 and 205,400 resident high-net-worth individuals, respectively. High-net-worth individuals are defined as those with investable wealth of over USD 1 million and all figures are rounded off to the nearest 100.
Tokyo, which led the pack 10 years ago, fell to 2nd place with 290,300 millionaires, and London, the wealthiest city in the world for many years, dropped 4th place with 258,000 resident high-net-worth individuals.
Singapore ranks fifth with 240,100 resident millionaires, while Sydney comes in 10th place with 126,900 millionaires. Home to some of the world’s most exclusive residential suburbs, Sydney has experienced especially strong wealth growth over the past 20 years, and is projected to break into the global Top 5 wealthiest cities by 2040.
China has three cities in the Top 10, with Hong Kong (129,500 millionaires), Beijing (128,200), and Shanghai (127,200) taking 7th, 8th, and 9th places, respectively.
