New York City is the wealthiest city in the world, with more millionaires than any other place on the planet, a new study finds.
As of 2023, NYC was home to 340,000 millionaires, along with 58 billionaires.
Tokyo claimed number two with 290,000 millionaires and 14 billionaires, while the San Francisco Bay Area came in at number three with 285,000 millionaires but a much higher number of billionaires with 63.
The findings were collected by the investment group Henley & Partnersand looked at data from 97 cities around the world.
The data considered population numbers for millionaires and billionaires in the cities, as well as the percentage growth of high net worth individuals in those cities from 2012 to 2022.
New York City turned out to be the richest city in the world with 340,000 millionaires
Japanese billionaire Tadashi Yanai (left) lives in Tokyo, and billionaire Michael Bloomberg (right) lives in New York City
There were three US cities in the top ten globally – NYC, the Bay Area and Los Angeles – along with three Chinese cities, including Hong Kong.
After New York City, Tokyo and the Bay Area, London ranked fourth for most millionaires worldwide with 258,000. The city also had 36 billionaires.
Singapore landed number five globally with 240,100 millionaires and 27 billionaires, then Los Angles was number six with 205,400 millionaires and 42 billionaires.
China ranked seventh, eighth and ninth with Hong Kong’s 129,500 millionaires and 32 billionaires, Beijing’s 128,200 millionaires and 43 billionaires, and Shainghai’s 127,200 millionaires and 40 billionaires.
At number ten worldwide came Sydney, Australia, with 126,900 millionaires and 15 billionaires.
In the United States alone, NYC, the Bay Area, and Los Angeles occupy the top three most millionaires, with Chicago at number four with 124,000 millionaires and 24 billionaires.
Tokyo, Japan landed number two worldwide with 290,000 millionaires
Kim Kardashian calls Los Angeles home and Mark Zuckerberg lives in the Bay Area
Houston had the fifth most millionaires with 98,500 – along with 20 billionaires – and Seattle ranked sixth with 50,500 millionaires and 10 billionaires.
Ranked seventh, eighth, and ninth in the US were Boston with 41,700 millionaires and 8 billionaires, Miami with 38,000 millionaires, 12 billionaires, and Austin with 30,500 millionaires and 9 billionaires.
Las Vegas took tenth place with 16,800 millionaires and 6 billionaires.
Of the 50 richest cities in the world, the United States beat all other countries with a total of 10 cities in first place. China followed with five cities in the top 50 globally. Australia was close behind with four cities in the top 50.
Hangzhou, China, led the world with the highest increase in high net worth individuals since 2012 with a 105 percent increase, while Austin, Texas followed close behind with a 102 percent increase.
Next up was Shenzen, China, with a 98 percent increase, West Palm Beach, Florida, with a 90 percent increase, and Scottsdale Arizona, with an 88 percent increase.
The San Francisco Bay Area had 63 more billionaires than any other city in the world
Other global cities in the top ten net worth growth included Bengaluru, India, Guangzhou, China, Sharjah in the United Arab Emirates, Ho Chi Minh City, Vietnam, and Hyderabad, India. Miami landed in 11th place with a 75 percent increase since 2012.
Conversely, Russia had the largest loss of high net worth individuals with a drop of 45 percent, and St. Petersburg followed closely with a drop of 38 percent
Hong Kong has lost 27 percent of its wealthy individuals since 2012, and the British cities of London and Edinburgh lost 15 and 12 percent of their wealth.