The World’s Wealthiest Cities Report 2025, an annual analysis by Henley & Partners and New World Wealth, paints an intricate picture of global wealth accumulation. It tracks high-net-worth individuals (HNWIs) across major urban centers, providing insights into the number of millionaires (those with at least USD 1 million in liquid assets), centi-millionaires (USD 100 million+), and billionaires in over 50 cities worldwide.
Beyond rankings, the report explores long-term trends in wealth distribution, migration, and the appeal of cities to the affluent. Underlying themes involve investment migration, quality of life, and economic mobility, key factors influencing the residency choices of the wealthy.
Leading the pack in 2025 is New York City, home to 384,500 millionaires, including 818 centi-millionaires and 66 billionaires. This highlights NYC as a global financial hub and a magnet for wealth.
With a diverse economy spanning finance, technology, and real estate, NYC remains a dominant force in wealth creation despite urban challenges.
Next in line is the Bay Area, encompassing San Francisco and Silicon Valley, now housing 342,400 millionaires. This region benefits immensely from a thriving tech sector and significant startup activity, boasting 82 billionaires—more than NYC.
The rapid increase of wealthy residents emphasizes the tech industry's role in redefining wealth concentrations globally.
Taking the third spot is Tokyo, Japan, with 292,300 millionaires, showcasing survival of the fittest in Japan's stable economy.
Following closely is Singapore with 242,400 millionaires, marking substantial growth as an appealing destination for wealthy expatriates.
In fifth place, Los Angeles boasts 220,600 millionaires, fueled by diverse entertainment and real estate sectors, reflecting a positive trajectory.
London falls to sixth with 215,700 millionaires, witnessing a decline in its millionaire count—a rare position among top cities.
Completing the global top 10 are Paris, Hong Kong, Sydney, and Chicago, all showcasing a mix of wealth patterns.
Cities like Shenzhen and Hangzhou in China are among the fastest-growing wealth hubs, with respective increases of 142% and 108% in millionaires over the last decade.
Meanwhile, Dubai has impressively climbed the ranks with over 81,200 resident millionaires, marking it as the largest climber in the report this year.
Some older Western centers like London show stagnation or even decline in their wealthy populations. This shift points towards evolving economic conditions that shape residency preferences among the affluent.
The United States leads with 11 of the 50 wealthiest cities, supported by its concentration of industries and opportunity for investment.
Asian cities like Tokyo and Singapore, alongside rapidly advancing centers, reflect a shifting economic tide favoring the East in wealth growth.
Within India, Mumbai ranks as the wealthiest city, positioned 27th globally for millionaires, showcasing the country's accelerating economic growth.
Cities with strong economic foundations tend to attract affluent individuals due to high-paying job prospects and entrepreneurial avenues.
Areas offering superior living conditions and infrastructure are often favored by wealthy families and individuals.
Cities that offer accessible migration pathways for investors attract influxes of wealthy residents.
The World’s Wealthiest Cities Report not only highlights current wealth trends but also projects future cities likely to emerge as key wealth centers. With ongoing changes driven by economic factors and innovation, the landscape of wealth may continue to shift.
The World’s Wealthiest Cities Report 2025 presents an insightful analysis of global wealth, shining a light on areas experiencing growth and those in decline. It's vital for policymakers and investors to grasp these trends for strategic decision-making.
Disclaimer: The insights are drawn from publicly available data from the World’s Wealthiest Cities Report 2025.
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