There is a common thread that runs through seven of the top 10 wealthiest cities in the world in 2025. Can you spot what that is?
Another private jet touches down in Dubai as another millionaire decides to make the glittering metropolis their new home, joining the ever-growing population of ultra-wealthy who are redrawing the global map of prosperity. Positioned at the crossroads of Europe, Asia, and Africa, the Middle East’s strategic geography has transformed it into a natural nexus for global wealth, with its tax-friendly policies and luxurious lifestyle offerings acting as powerful magnets for the world’s elite.
According to the latest World’s Wealthiest Cities Report 2025 from Henley & Partners, cities that mix investment opportunities with lifestyle benefits are winning the race for mobile wealth. While familiar cities top the rankings, emerging hubs like Dubai are reshaping global real estate and wealth patterns. The city jumped three spots to 18th place globally, with 102% growth in its millionaire population over the past decade. It now hosts over 81,200 millionaires, 237 centi-millionaires (those with $100+ million), and 20 billionaires.
Abu Dhabi follows closely with 80% millionaire growth, creating a wealth corridor in the UAE that attracts the global elite. India’s tech centres are seeing similar success. Bengaluru, India’s “Silicon Valley,” has experienced 120% growth in millionaires over ten years. Both Delhi and Bengaluru are expected to double their centi-millionaire populations in the next decade as India’s digital entrepreneurs flourish.
The super-rich aren’t just randomly picking vacation spots; they’re strategically designing their “geographical portfolios” with the same care they apply to their investment portfolios: Seven of the top ten wealthiest cities are in countries with residence-by-investment programs that offer formal migration pathways.
Looking beyond the established centres, emerging markets show promise. While the top 50 of the world’s richest cities doesn’t yet include African or Central American cities, Cape Town, Marrakesh, and Nairobi are forecast for dramatic wealth growth by 2035.
So, which cities currently reign as the wealthiest cities in the world? Here’s how the global wealth capitals rank in 2025:
10. Chicago, United States
Millionaires: 127,100
Centi-millionaires: 295
Billionaires: 25
Millionaire growth: 24%
9. Sydney, Australia
Millionaires: 152,900
Centi-millionaires: 224
Billionaires: 22
Millionaire growth: 28%
Sydney’s growth stems from Australia’s 2023 immigration overhaul, which created new pathways for wealthy investors through the Global Talent visa program. The city attracts affluent expats from Asia with its stability, lifestyle, and elite education, while harbor-front properties fetch upwards of AUD 60 million.
8. Hong Kong
Millionaires: 154,900
Centi-millionaires: 346
Billionaires: 40
Millionaire growth: 3%
7. Paris, France
Millionaires: 160,100
Centi-millionaires: 277
Billionaires: 22
Millionaire growth: 5%
Paris has benefited somewhat from London’s post-Brexit challenges, attracting financial firms and wealthy Europeans seeking an EU base. The city’s unmatched luxury real estate market continues to draw ultra-high-net-worth individuals, with property in the 6th and 7th arrondissements remaining among the most sought-after addresses globally.
6. London, United Kingdom
Millionaires: 215,700
Centi-millionaires: 352
Billionaires: 33
Millionaire growth: -12%
London’s fall from the top five reflects post-Brexit challenges, with a 12% decline in millionaires over the past decade. One of only two cities in the Top 50 with negative growth, London nonetheless remains a global wealth hub thanks to its cultural and financial influence. Recent government efforts to boost technology and innovation aim to reverse this downward trend.
5. Los Angeles, United States
Millionaires: 220,600
Centi-millionaires: 516
Billionaires: 45
Millionaire growth: 35%
4. Singapore
Millionaires: 242,400
Centi-millionaires: 333
Billionaires: 30
Millionaire growth: 62%
Singapore’s 62% growth in millionaires reflects its rising status as Asia’s wealth haven. Its Global Investor Programme (requiring S$2.5 million investment for residency) and Variable Capital Company structure have attracted thousands of wealthy individuals and hundreds of new investment vehicles, and with a 17% tax cap and strong legal protections, the “Switzerland of Asia” continues its ascent.
3. Tokyo, Japan
Millionaires: 292,300
Centi-millionaires: 262
Billionaires: 18
Millionaire growth: 4%
Tokyo’s wealth landscape has been transformed by the strong recovery of the Nikkei 225 over the past two years. Despite modest 4% millionaire growth, the Japanese capital maintains its solid position, buoyed by traditional financial strength and the country’s recent efforts to attract international capital. Plus, hosting the Expo 2025 Osaka will only add to the nation’s global appeal.
2. The Bay Area, United States
Millionaires: 342,400
Centi-millionaires: 756
Billionaires: 82
Millionaire growth: 98%
1. New York City, United States
Millionaires: 384,500
Centi-millionaires: 818
Billionaires: 66
Millionaire growth: 45%
Credit: www.architecturaldigest.com
