#USA #New York #Henley Partners #Millionaires #Wealth Report

The World's Wealthiest Cities in 2025

In the latest report by Henley Partners and New World Wealth, the United States continues to hold a dominant position in the global landscape of wealth. The World's Wealthiest Cities Report 2025 ranks 11 US cities among the top 50 for millionaires, with New York City leading the pack. The report highlights significant trends in millionaire growth and the shifting epicenters of wealth creation.

Top Rankings Overview

New York occupies the number one spot with 384,500 high-net-worth individuals, bolstered by 818 centi-millionaires and 66 billionaires. Following closely is the Bay Area, which encompasses San Francisco and Silicon Valley, now in second place with 342,400 resident millionaires. Notably, the Bay Area has seen a staggering 98% growth in millionaires over the last decade, becoming home to 82 billionaires, demonstrating its robust position as a technological wealth hub.

Only three cities worldwide surpassed the Bay Area's millionaire growth: Shenzhen, which ranks 28th with a 142% increase, Hangzhou at 35th with 108%, and Dubai at 18th with 102%. The emirate of Dubai, now with 81,200 resident millionaires, displayed the most significant upward movement in rankings, moving from 21st to 18th place within the past year.

A Closer Look at City Rankings

Tokyo has cemented its place at third with 292,300 millionaires, followed by Singapore, which holds the fourth position with 242,400. Los Angeles has eclipsed London to secure the fifth spot with 220,600 millionaires, while London has slipped to sixth with 215,700 residents boasting millionaire status.

Interestingly, London and Moscow are the only cities in the top 50 to experience negative growth rates in millionaire populations, losing 12% and 25% respectively over the past decade. The largest city in France, Paris, has managed to hang onto seventh place with 160,100 millionaires, whereas Hong Kong, now in eighth, has pushed Sydney down to ninth place.

For the first time ever, Chicago has entered the top 10, surpassing both Beijing and Shanghai, with 127,100 millionaires. Conversely, Beijing dropped to 12th while Shanghai fell to 14th.

Noteworthy Growth Trends

Emerging cities have also caught investors' attention as fastest-growing hubs of wealth. Besides the standout locations in China and the UAE, US cities like Scottsdale (125% growth), West Palm Beach (112%), and Bengaluru (120%) in India are significant players in the millionaire expansion narrative.

Miami, Washington DC, and Austin, known for their favorable tax environments and vibrant tech scenes, have also seen impressive growth rates, while European cities such as Warsaw and Abu Dhabi join their ranks with growth figures of 83% and 80%, respectively.

The Future of Wealth Cities

Looking ahead, the report highlights the wealth hotspots anticipated to flourish within the next decade (2025-2035). Dubai and Abu Dhabi lead this venture, projected to witness their centi-millionaire populations double. Cities like Delhi and Bengaluru in India are also expected to experience substantial growth, along with European cities such as Athens and Warsaw.

Moreover, smaller cities like St. Julian's in Malta and Lugano in Switzerland are also set for upward mobility, while no African or Central American cities have made it into the top 50, though cities in the Caribbean and Central America show promise for future wealth growth.

In terms of property, Monaco leads as the world's most expensive city, where the average wealth exceeds USD 20 million, and real estate prices soar as high as USD 38,800 per square meter for prime apartments.

Conclusion

The 2025 World's Wealthiest Cities Report not only sheds light on the current landscape of wealth across various cities but also serves as a benchmark for future trends and investment opportunities in the coming decade. The report underscores the dynamic nature of millionaire populations, revealing both established and emerging centers of wealth that will shape the financial landscape of tomorrow.