Top 10 Cities with the Highest Number of Millionaires in the World
The Rise of Millionaires Around the World
The number of millionaires around the world is on the rise, with certain cities experiencing significant growth.
According to a report by consultancy firm Henley & Partners, the number of millionaires in some cities is increasing notably.
A Shift in the Landscape of Wealth
In a surprising turn of events, the first Asian city in terms of the quantity of billionaires is not Chinese but Indian, indicating a shift in the balance of power in the region.
The Hurun Research Institute revealed that there are currently 3,279 billionaires globally, marking a 5% increase from 2023.
China leads the list of nations with 814 billionaires, although the country has seen a decrease of 155 billionaires compared to the previous year.
The United States follows with 800 billionaires, while India ranks third with 271 billionaires.
The Fastest-Growing Millionaire Cities
To understand the changing social dynamics and where the wealthy are predominantly concentrating worldwide, the ranking of the 10 cities with the fastest-growing millionaire populations is enlightening.
Henley & Partners also considered the so-called centimillionaires, who hold $100 million in investable assets, as well as the number of urban billionaires.
- New York, USA
- Millionaires: 340,000
- Centimillionaires: 724
- Billionaires: 58
- Tokyo, Japan
- Millionaires: 290,300
- Centimillionaires: 250
- Billionaires: 14
- San Francisco Bay, USA
- Millionaires: 285,000
- Centimillionaires: 629
- Billionaires: 63
- London, UK
- Millionaires: 258,000
- Centimillionaires: 384
- Billionaires: 36
- Singapore
- Millionaires: 240,100
- Centimillionaires: 329
- Billionaires: 27
Continuation of the Top Cities
- Los Angeles, USA
- Millionaires: 205,400
- Centimillionaires: 480
- Billionaires: 42
- Hong Kong
- Millionaires: 129,500
- Centimillionaires: 290
- Billionaires: 32
- Beijing, China
- Millionaires: 128,200
- Centimillionaires: 354
- Billionaires: 43
- Shanghai, China
- Millionaires: 127,200
- Centimillionaires: 332
- Billionaires: 40
- Sydney, Australia
- Millionaires: 126,900
- Centimillionaires: 184
- Billionaires: 15
