Top 16 Richest Cities With Over 100,000 Resident Millionaires

Which city is the richest in the world and has the most millionaires living in it in 2023?

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Top 16 Wealthiest Cities With More Than 100,000 Resident Millionaires

Top wealthiest cities worldwide in 2023

The following is a list of the top 16 wealthiest cities in the world and the number of extremely wealthy people who live there, as determined by a recent survey compiled by Henley & Partners. Over one hundred thousand millionaires call each of these cities home.

Top 16 Wealthiest Cities in the World With The Most Millionaires

1.New York, U.S. (345,600 millionaires reside)

It is true that New York Metropolis has more wealthy residents than any other city in the world, but that claim is not universally accepted.

New York City is home to a staggering number of extremely wealthy people: 345,600 millionaires, 15,470 multi-millionaires (wealthy individuals with assets of $10 million or more), 737 centi-millionaires (wealth of $100 million or more), and 59 billionaires.

The total private wealth held by New York residents was found to exceed $3 trillion.

Top 16 Wealthiest Cities With Over 100,000 Resident Millionaires in 2023

The New York City skyline. [Photo/VCG]

2.Tokyo, Japan (304,900 millionaires)

The second-ranked city was Tokyo, the capital of Japan, which had 304,900 affluent individuals. A far lower percentage of them have assets worth more than $10 million, in comparison to the proportion in New York.

According to the findings of the survey, 7,350 residents in Tokyo have a net worth of more than $1 million, 263 have more than $100 million, and 12 have more than $1 billion.

3. San Francisco Bay Area, U.S. (276,400 millionaires)

With a total of 276,400 affluent residents, including 12,890 multi-millionaires, the San Francisco Bay Area (including Silicon Valley) rounds out the top three wealthiest cities in the United States.

The survey found that 62 people in the city are worth over $1 billion, and that 623 residents have assets over $100 million.

4. London, United Kingdom (272,400 millionaires)

Today, London is home to 272,400 millionaires, making it the wealthiest city in the world. This number includes 406 centi-millionaires and 38 billionaires. London has been the wealthiest city in the world for many years. Especially expensive are the houses and flats in London that have a view of one of the city's many parks, such as Hyde Park or Regents Park, or one of the city's many open areas, such as Hampstead Heath.

Drops in affluent populations were also observed in several European and Asian metropolises. London, in the United Kingdom, for example, had a decline of 9 percent, dropping it from third to fourth place.

Meanwhile, Paris, the French capital, dropped three spots to 20th as a result of a 12% drop in the city's wealthy population.

5.Singapore, Singapore (249,800 millionaires )

After Tokyo, Singapore is the second-largest millionaire oasis in all of Asia, earning it the position of fifth worldwide. The city-state is widely regarded as the world's most business-friendly city, and it is one of the top destinations for migrating millionaires because it is home to 249,800 millionaires, including 336 centi-millionaires and 26 billionaires. In addition, the city-state is home to 336 centi-millionaires.

6. Los Angeles, U.S. (192,400 millionaires)

There are 192,400 millionaires living in this region, in addition to 393 centimillionaires and 34 billionaires. In calculating the total wealth of this region, we included not just the city of Los Angeles but also the neighboring communities of Malibu, Beverly Hills, Laguna Beach, Newport Beach, and Santa Monica. The entertainment industry, information technology, retail, and transportation are all important businesses.

7.Chicago, U.S. (160,100 millionaires)

Chicago is the most economically diverse city in the United States and is home to 160,100 millionaires, including 340 centi-millionaires and 28 billionaires. It is also the largest city in the United States that is located entirely within the country. The headquarters of thirty-five of the Fortune 500 corporations, such as McDonald's and Boeing, are located in the city of Chicago.

8. Houston, U.S. (132,600 millionaires)

There are 132,600 millionaires living in the city of Houston, in addition to 314 centimillionaires and 25 billionaires. Over the course of the previous 20 years, Houston has become one of the cities with the highest per capita wealth growth rates in the world. Additionally, it is the most successful city in the United States in a number of important industries, including as aeronautics, basic materials (oil and gas), biotechnology, and engineering.

9.Beijing, China (131,500 millionaires)

Only New York City and the San Francisco Bay area rank higher based on this measure. Beijing, the capital of China, has 131,500 resident millionaires, including 363 centi-millionaires and a particularly high number of billionaires, 44. Based on this measure, Beijing ranks third behind New York City and the San Francisco Bay area. Additionally, the majority of China's leading corporations have their headquarters in Beijing.

10.Shanghai, China (130,100 millionaires)

Shanghai

There are 130,100 millionaires living in Shanghai, in addition to 350 centi-millionaires and 42 billionaires. Shanghai is the largest city in China and is usually regarded as the country's financial hub. According to total market capitalization, the Shanghai Stock Exchange is the third largest in the world (after the Dow Jones and NASDAQ).

Houston also has one of the fastest growing millionaire populations, according to the report. Austin, Miami, West Palm Beach and Greenwich are other U.S. cities that have seen a major year-to-date increase in wealthy people.

Riyadh in Saudi Arabia, Sharjah and Dubai in the United Arab Emirates, Lusaka in Zambia, and Luanda in Angola are in the lead. In the first half of 2022, they saw an increase of up to 20% in terms of their wealthy population.

11.Sydney (129,500 millionaires)

Sydney has become one of the world's leading financial capitals and is now home to 129,500 millionaires, including 188 centi-millionaires and 16 billionaires. Bellevue Hill, Darling Point, Double Bay, Dover Heights, Longueville, Mosman, Point Piper, and Vaucluse are all wealthy neighborhoods in Sydney. The cost of buying a house in these suburbs is through the roof.

12.Hong Kong (SAR China - 125,100 millionaires)

Hong Kong was formerly the second wealthiest city in Asia-Pacific after Tokyo, but it has since been surpassed by Singapore, Beijing, Shanghai, and Sydney. The city is now home to 125,100 millionaires, 280 centi-millionaires, and 28 billionaires. Despite this, the special administrative territory is home to a large number of Asia's richest businesses, and the Hong Kong Stock Exchange is consistently ranked among the world's most significant financial centers.

13.Frankfurt (117,400 millionaires)

Frankfurt is home to 117,400 millionaires, 161 centi-millionaires, and 14 billionaires, making it the wealthiest city in mainland Europe and one of the world's top financial capitals. Notably, although contributing less to Germany's GDP, Frankfurt has a higher per capita millionaire population than Berlin, Hamburg, and Munich combined.

14.Toronto (116,100 millionaires)

Toronto

Toronto, like New York and London, is a major financial hub, with a population of 116,100. The city is home to 187 centi-millionaires and 17 billionaires. Companies including Brookfield Asset Management, Four Seasons Hotel Group, George Weston, Onex Corporation, Royal Bank of Canada, and Scotiabank all call this bustling metropolis home. The city of Toronto is also home to a thriving IT industry.

15.Zurich (105,100 millionaires)

There are 105,100 millionaires living in the Canton of Zurich, which is a global center for finance and banking. This number includes 258 centi-millionaires and 12 billionaires. Private banks like as Credit Suisse, Julius Baer, and UBS all have their headquarters in the city. These institutions have provided services to many of the wealthiest families in the world for several decades.

16.Seoul – South Korea (102,100 millionaires)

There are 102,100 residents who are millionaires living in Seoul Special City, in addition to 241 centi-millionaires and 25 billionaires. Notably, Seoul is home to over 80% of South Korea's total number of billionaires and a whopping 75% of South Korea's entire population of individuals with a high net worth. The city is home to a number of important corporations, including as Hyundai, Kookmin Bank, LG, and Samsung.

Melbourne

The best place to live in Australia A total of 97,300 millionaires live in Melbourne, along with 149 centi-millionaires and 12 billionaires. The city's wealthy neighbourhoods include Brighton and Toorak, and it is home to some of Australia's top corporations including ANZ, BHP, Rio Tinto, and Telstra. Australia's second-largest city, Melbourne is seeing significant economic growth similar to that of Sydney.

Dallas and Fort Worth

There are 92,300 millionaires in the Dallas–Fort Worth area, including 211 centimillionaires and 18 billionaires. Dallas, like its Texas neighbors Houston and Austin, has experienced rapid economic expansion over the past two decades, prompting a number of corporations to set up shop in the area. Companies like American Airlines, AT&T, CBRE, ExxonMobil, Southwest Airlines, and Texas Instruments are among local giants in the Fortune 500.

Geneva

It is no surprise that the Canton of Geneva, which houses the United Nations, also has a population of 90,300 millionaires, 345 centi-millionaires, and 16 billionaires. Geneva, in the French-speaking region of Switzerland known as Romandy, is a diplomatic and financial center where private banks, wealth managers, private family offices, and luxury watchmakers dominate the local economy.

Paris

There are a total of 88,600 millionaires in Paris, including 121 centi-millionaires and 15 billionaires, if one considers only the wealth held inside the city of Paris and the neighboring department of Hauts-de-Seine. Financial services, luxury products, and the hospitality industry are vital to the economy of this region, which is also well-known for its art, fashion, culture, and cuisine (restaurants and hotels). BNP Paribas, Credit Agricole, and Mot Hennessy Louis Vuitton are just a few of Europe's top firms with headquarters in the city.

Dubai, Mumbai, and Shenzhen

All three of these cities are expanding rapidly, and by 2030, they might be among the top 20 in the world. There are now 67,900 millionaires, 202 centi-millionaires, and 13 billionaires living in Dubai, placing it at 23rd internationally. The economy of the emirate is very diverse, with particular strengths in basic materials, hotels, financial services, oil and gas, real estate, retail, and transportation. Rich neighborhoods in Dubai include Emirates Hills, the Jumeirah Golf Estate, and the Palm Jumeirah.

In terms of the number of millionaires per capita, Mumbai ranks 25th in the world, with 60,600, 243 centi-millionaires, and 30 billionaires all calling it home. Both the Bombay Stock Exchange and the National Stock Exchange are headquartered in this megalopolis, and both are among the top 10 largest stock exchanges in the world. The financial services, media, and real estate industries are expanding rapidly.

Shenzhen is home to 43,600 millionaires, 135 centi-millionaires, and 17 billionaires, placing it at the 30th position on the list. The Shenzhen Stock Exchange is the seventh largest stock market in the world in terms of market capitalization, and Shenzhen is commonly regarded as China's hi-tech hub. Companies like Huawei, Tencent, and ZTE all have significant presences here.