- New York City came out on top in a survey of the wealthiest places around the world.
- Manhattan is home for 384,500 billionaires, 818 centimillionaires and 818 millionaires.
- The Bay Area is ranked second, Los Angeles ranks fifth and Chicago comes in 10th.
Global wealth has tripled in two decadesIt is mainly concentrated in the United States.
In April, Henley & Partners, a company focusing on residency and citizenship by investment, in partnership with global wealth intelligence firm New World Wealth, which tracks global trends in wealth migration between countries and cities released its joint World Wealthiest Cities Report. These lists include some of the most expensive places in the world. the fastest-growing wealth hubsNew York City is the richest city.
According to the report the Big Apple is the home of 384,500 billionaires and 818 centimillionaires. This indicates a significant concentration of wealth on Manhattan.
Henley & Partners shared in a press release that 11 out of the 50 cities on the list are in our country. The Bay Area (which includes San Francisco and Silicon Valley) came in second place with 342,400 millionaires. However, the company also pointed out that the Bay Area is now home to more billionaires—82—than New York and “continues to thrive as the epicenter of technological wealth creation, enjoying exceptional millionaire growth of 98 percent over the past decade.”
Tokyo was ranked third on the list, followed closely by Los Angeles (fifth), London, Paris, Hong Kong, Sydney, and Chicago.
The report noted that London, and Moscow were the only two cities among the top 50 to have experienced negative growth in the last decade. Their millionaire populations declined by -12 and -25 percent respectively.
Juerg Steffen, CEO of Henley & Partners, stated that the winning ten cities are located in countries offering residence-by-investment programs, “creating direct pathways for entrepreneurs and investors seeking access to these wealth hubs.”
“These urban centers share common DNA—robust legal frameworks, sophisticated financial infrastructure, and perhaps most critically, investment migration programs that welcome global talent and capital,” Steffen added.
Results are available at henleyglobal.com.
