Top 10 Richest Cities in the World: Where Millionaires Live
Do you know which city is the richest in the world? Is it where the wealthiest people live or something else?
The answer is New York. New York is the richest city in the world that surpassed other glamorous and shiny cities like Tokyo, London, and Hong Kong.
New York got this title because its residents are millionaires on average. A study from Henley & Patners looked at how many high-income individuals each city had. New York City had 340,000 millionaires.
“Residency by investment can give you the right to live, work, study and invest in leading international wealth centres such as New York, London, Singapore, Sydney and Hong Kong,” Juerg Steffen, CEO of Henley & Partners, said in a statement.
“Being able to move yourself, your family, or your business to a more profitable city or having the choice of different residences around the world is a key part of international wealth and estate planning for private clients.”
Tokyo came in second with 290,300 millionaires.
The third place went to the Bay Area, California with 285 thousand millionaires, followed by London with 258 thousand millionaires, and Singapore with 240,100 millionaires.
Andrew Amoils, head of research at New World Wealth, said some traditional magnets for wealth such as Monaco and Dubai had also seen a lot of millionaire growth in the last decade.
"Monaco is probably the safest place in the world for the super-rich. The average wealth of a person living in Monaco is more than $10 million, which makes it the city with the highest wealth per capita. It is also the most expensive city in the world, with apartment prices often over USD 35,000 per square meter.
“Dubai is another well-known international wealth centre, with low taxes that attract millionaires from all over the world. About 3,500 wealthy people moved to the city in 2022 alone.”
The World’s Richest Cities Report 2023 has data on how many wealthy people (High Net Worth Individual) live in 97 cities around the world. It also has statistics on how much their numbers grew in the last decade (2012 to 2022) and where the very rich people (people with investable wealth of USD 100 million or more) like to go in different seasons.
List of the 10 richest cities in the world:
- 1. Kota New York - 340.000
- 2. Tokyo - 290.300
- 3. Area Teluk - 285.000
- 4. London - 258.000
- 5. Singapura - 240.100
- 6. Los Angeles - 205.400
- 7. Hongkong - 129.500
- 8. Beijing - 128.200
- 9. Shanghai - 127.200
- 10. Sydney - 126.900