2/11
New York City
New York City remains at the pinnacle of global wealth, housing approximately 384,500 millionaires, 818 centi-millionaires (individuals with assets over $100 million), and 66 billionaires.Despite challenges such as high living costs and safety concerns, the city’s robust financial sector, luxury real estate, and cultural significance continue to attract the ultra-wealthy.
3/11
The Bay Area
Encompassing San Francisco and Silicon Valley, the Bay Area has experienced a significant surge in wealth, with about 305,700 millionaires. This marks a 98% increase over the past decade, driven by the tech industry’s growth and a culture of innovation.
4/11
Tokyo
Tokyo stands as Asia’s wealthiest city, boasting 298,300 millionaires.Its economic stability, strong corporate presence, and technological advancements contribute to its sustained wealth accumulation.
5/11
Singapore
Singapore is emerging as a preferred destination for high-net-worth individuals, with 244,800 millionaires and 30 billionaires.Factors such as pro-business policies, safety, and the absence of capital gains tax make it an attractive hub for the affluent.
6/11
Los Angeles
Los Angeles combines entertainment with business, hosting 212,100 millionaires, 516 centi-millionaires, and 43 billionaires.Beyond its Hollywood allure, the city is a significant center for technology, real estate, and various industries.
7/11
London
London, with 227,000 millionaires, has seen a 15% decline in its wealthy population over the past decade. Factors such as Brexit, increased taxation, and changes in domicile rules have influenced this trend. Nevertheless, London’s cultural and historical significance continues to hold appeal.
8/11
Paris
Paris maintains its position as mainland Europe’s wealthiest city, with 165,000 resident millionaires.The city’s blend of culture, fashion, and business continues to attract affluent individuals.
9/11
Hong Kong
Despite a slight decrease, Hong Kong remains a major financial hub with 154,900 millionaires.Its strategic location and financial services sector continue to draw wealth.
10/11
Sydney
Sydney has risen in the ranks, now home to 152,900 high-net-worth individuals.The city’s economic growth and quality of life contribute to its increasing appeal among the wealthy.
11/11
Chicago
Chicago rounds out the top ten, with 127,100 millionaires.Its diversified economy and strategic location make it a significant center for wealth in the United States.
Credit: Economic times
