#United States #New York #New York City #Millionaires #Wealth Hubs

The Wealthiest Cities in the World for 2025

A recent report by Henley & Partners and New World Wealth reveals that the United States continues to dominate in the realm of wealth, with 11 cities making it to the list of the Top 50 Cities for Millionaires. Topping the list is New York City, boasting an impressive 384,500 high net worth individuals (HNWIs), which includes 818 centi-millionaires and 66 billionaires. The report, which marks its fourth edition, highlights the significant economic advantages and growing wealth concentration found in major urban areas.

Following New York, the Bay Area—including San Francisco and Silicon Valley—ranks second with 342,400 millionaires. This region has experienced a phenomenal growth rate of 98% over the past decade, further establishing itself as a hub of technological wealth creation. Notably, while the Bay Area has a higher count of millionaires, New York City still has more billionaires. The Bay Area has now surpassed New York in terms of billionaire presence, boasting 82 more billionaires in residence.

On a global scale, cities like Shenzhen, Hangzhou, and Dubai have shown remarkable growth in millionaire numbers. Shenzhen claims the 28th spot with a staggering 142% increase in millionaires, while Hangzhou and Dubai made significant progress too, with growth rates of 108% and 102% respectively. Dubai has emerged as the fastest climber on the list, elevating from 21st to 18th place year-over-year.

Tokyo maintains its steady position in third place, having 292,300 millionaires. Singapore follows closely in fourth place with 242,400 millionaires. Los Angeles has recently overtaken London, climbing to the fifth position with 220,600 millionaires. London, with 215,700 millionaires, has subsequently dropped to sixth place. Both London and Moscow have reported negative growth over the last decade, with declines of 12% and 25% respectively in their millionaire counts.

Further down the list, Paris and Hong Kong, with 160,100 and 154,900 millionaires respectively, solidify their places. However, Chicago has made a significant ascent into the top ten, now positioned at number ten, surpassing both Beijing and Shanghai. Notably, the Portuguese city of Lisbon has entered the top 50 for the first time, while Auckland has dropped off the list.

Fastest Growing Wealth Hubs

In examining growth rates, several American cities have shown impressive metrics. Scottsdale and West Palm Beach show remarkable growth at 125% and 112%, respectively. Cities like Miami, Washington DC, and Austin display growth rates nearing or exceeding 90%. Other international cities, such as Abu Dhabi and local hotspots in India like Bengaluru, are expected to see over 100% growth in their super-rich populations by 2035, showcasing a shift in wealth geography.

Future Trends in Wealth

Looking ahead, the report identifies “centi-city” hotspots poised for major growth in the coming decade. Currently leading this forecast is Dubai, followed closely by Abu Dhabi, both predicted to see their centi-millionaire counts more than double by 2035. Cities like Delhi, Bengaluru, and several prominent European locales are also expected to become increasingly appealing to high net worth individuals.

Luxury Living and High Costs

Monaco claims the top spot as the most expensive city globally, with luxury real estate prices exceeding $38,800 per square meter, making it a bastion for the world's wealthiest.

Overall, the World’s Wealthiest Cities Report not only underscores the current status of millionaire distribution but also highlights the evolving dynamics of global wealth creation and concentration. The patterns noted in this report set the stage for a future where new economic hotspots emerge, continuing to reshape the landscape of affluence and privilege worldwide.