Money talks, but it has a preferred ZIP code. While some of us are still figuring out how to afford avocado toast, there are entire cities where millionaires outnumber the local coffee shops.
In 2025, the global wealth landscape continues to evolve, with some cities attracting money like magnets while others watch their wealthy residents pack their Louis Vuitton bags and head for greener pastures.
Wealthiest Cities in the World
According to the latest data from Henley & Partners in collaboration with New World Wealth, here are the 10 cities that are richest in the world.
1. New York City
New York City maintains its iron grip on the title of world’s wealthiest city, home to an astounding 384,500 millionaires, 818 centi-millionaires, and 66 billionaires.
The Big Apple’s financial ecosystem remains unparalleled, with Wall Street continuing to serve as the global nerve centre for finance and investment. Despite sky-high living costs that make a studio apartment cost more than most people’s annual salaries, and safety concerns that occasionally make headlines, NYC’s magnetic pull for the ultra-wealthy remains undiminished.
The city’s wealth concentration stems from its diverse economic base, encompassing not just finance but also real estate, media, technology, and luxury retail. Manhattan’s luxury real estate market alone represents billions in assets.
2. The Bay Area
The Bay Area, encompassing San Francisco and Silicon Valley, has witnessed explosive wealth growth, now housing approximately 305,700 millionaires. This represents a staggering 98% increase over the past decade, making it the fastest-growing wealth hub globally.
The region’s tech-driven economy has created unprecedented wealth through IPOs, venture capital investments, and the continued dominance of tech giants like Apple, Google, and Meta.
Silicon Valley’s unique ecosystem of innovation, venture capital, and entrepreneurship continues to mint new millionaires at an unprecedented rate.
The area’s concentration of tech talent, combined with a culture that celebrates risk-taking and innovation, has made it the modern equivalent of the California Gold Rush.
3. Tokyo
Tokyo stands proudly as Asia’s wealthiest metropolis, boasting 298,300 millionaires. Japan’s capital has maintained its economic prominence through decades of stability, technological advancement, and corporate excellence.
Tokyo’s wealth stems from its role as the economic heart of the world’s third-largest economy. The city’s blend of traditional business practices with cutting-edge innovation has created a unique environment for wealth accumulation.
From multinational corporations to family-owned businesses that have operated for centuries, Tokyo represents both stability and growth potential that continues to attract high-net-worth individuals from across Asia and beyond.
4. Singapore
Singapore has emerged as the preferred destination for Asia’s wealthy elite, now home to 244,800 millionaires and 30 billionaires.
The city-state’s meteoric rise in wealth rankings can be attributed to its pro-business policies, political stability, and strategic tax advantages. Singapore’s transformation into a regional financial hub has been nothing short of remarkable.
Singapore offers world-class infrastructure, exceptional safety, and a highly educated workforce, and serves as the perfect gateway between East and West.
Its regulatory environment is conducive to business, while its multicultural society and English-speaking environment make it attractive to international investors and entrepreneurs looking to establish their Asian operations.
5. Los Angeles
Los Angeles, the City of Angels, hosts 212,100 millionaires, 516 centi-millionaires, and 43 billionaires.
While Hollywood glamour initially put LA on the wealth map, the city’s economic base has diversified significantly. Today, LA is a major center for technology, aerospace, international trade, and luxury real estate, in addition to its entertainment industry dominance.
The city’s wealth ecosystem benefits from its position as the entertainment capital of the world, but extends far beyond movie studios and record labels. LA’s tech scene, often called “Silicon Beach,” has grown exponentially.
6. London
London, with 227,000 millionaires, has experienced a 15% decline in its wealthy population over the past decade. Brexit uncertainty, increased taxation, and changes to non-domiciled tax rules have prompted some wealthy individuals to relocate.
However, London’s status as a global financial centre, its rich cultural heritage, and its role as a gateway to Europe ensure it remains attractive to international wealth.
Despite recent challenges, London’s fundamentals remain strong. The city continues to serve as a major financial hub, with the City of London and Canary Wharf hosting numerous international banks and financial institutions.
7. Paris
Paris maintains its position as mainland Europe’s wealthiest city, home to 165,000 resident millionaires. The City of Light combines cultural sophistication with business acumen, serving as headquarters to numerous multinational corporations and luxury brands.
The city’s wealth ecosystem is built around luxury goods, fashion, finance, and tourism.
Paris serves as the global centre for luxury brands, from fashion houses to fine wines, creating wealth not just for business owners but for the entire ecosystem of suppliers, artisans, and service providers that support these industries.
8. Hong Kong
Despite political uncertainties and a slight decrease in numbers, Hong Kong remains a significant wealth centre with 154,900 millionaires.
The city’s strategic location, sophisticated financial services sector, and role as a gateway to China continue to attract substantial wealth, even as some residents have relocated to other places.
Hong Kong’s unique position as a bridge between China and the rest of the world ensures its continued relevance in global finance. The city’s free-market economy, rule of law, and established financial infrastructure provide advantages that are difficult to replicate elsewhere in the region.
9. Sydney
Sydney has climbed the wealth rankings impressively, now home to 152,900 high-net-worth individuals.
Australia’s largest city benefits from the country’s strong economy, abundant natural resources, political stability, and exceptional quality of life.
The city’s growth is supported by Australia’s mining boom, growing tech sector, and increasing integration with Asian economies.
Sydney offers an attractive lifestyle with beautiful beaches, excellent climate, and a growing business environment that appeals to both local entrepreneurs and international investors.
10. Chicago
Chicago rounds out the top 10 with 127,100 millionaires. The Windy City’s central location, diversified economy, and status as a major transportation hub contribute to its wealth concentration.
The city’s advantages include lower costs compared to coastal cities, strong educational institutions, and a business-friendly environment.
Chicago’s role as the economic center of the American Midwest, combined with its cultural attractions and lower cost of living relative to other major American cities, makes it an attractive location for both businesses and wealthy individuals.
Bottom Line
These 10 cities represent more than just concentrations of wealth; they’re economic powerhouses that shape global markets, drive innovation, and set trends that ripple across the world.
Whether it’s New York’s financial might, Silicon Valley’s tech dreams, or Singapore’s tax-friendly embrace, each city offers its unique recipe for attracting and retaining the world’s wealthiest individuals.
So the next time someone tells you location doesn’t matter, just remind them that apparently, millionaires didn’t get that memo.
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