A new study says that this city in the U.S. is the richest in the world. Tokyo, London, and Hong Kong come in second, third, and fourth, respectively.
According to the latest “World’s Wealthiest Cities Report 2025” by Henley & Partners and New World Wealth, New York City retains its position as the richest city in the world by millionaire population, with other U.S. and global cities following closely behind. The rankings are based on the number of resident millionaires (individuals with investable wealth of USD 1 million or more), as well as centi-millionaires (USD 100 million+) and billionaires (USD 1 billion+)
Key Highlights
- New York City leads globally with 384,500 millionaires, 818 centi-millionaires, and 66 billionaires.
- The Bay Area (San Francisco and Silicon Valley) is second, notable for having the highest number of billionaires (82) and a rapid 98% millionaire growth over the past decade.
- Tokyo remains the wealthiest city in Asia, ranking third with 292,300 millionaires.
- London has dropped to sixth due to a 12% decline in its millionaire population over the past decade.
- Asian cities like Singapore, Hong Kong, and Sydney continue to rise, driven by economic growth and global wealth migration.
- Fastest-growing millionaire hubs include Shenzhen, Hangzhou, and Dubai, each seeing over 100% growth in millionaire residents in the last 10 years
Top 10 Wealthiest Cities in the World (2025)
| Rank | City | Country/Region | Millionaires | Billionaires |
|---|---|---|---|---|
| 1 | New York City | USA | 384,500 | 66 |
| 2 | The Bay Area | USA | 342,400 | 82 |
| 3 | Tokyo | Japan | 292,300 | 18 |
| 4 | Singapore | Singapore | 242,400 | 30 |
| 5 | Los Angeles | USA | 220,600 | 45 |
| 6 | London | UK | 215,700 | 33 |
| 7 | Paris | France | 160,100 | 22 |
| 8 | Hong Kong | Hong Kong (SAR) | 154,900 | 40 |
| 9 | Sydney | Australia | 152,900 | 22 |
| 10 | Chicago | USA | 127,100 | 25 |
Henley & Partners did a study that looked at how many people with high net worth lived in each place. They found that New York place had the most millionaires per capita. There are 340,000 millionaires who live in New York as a whole.
Residence by investment gives you the right to live, work, study, and invest in leading international wealth hubs like New York, London, Singapore, Sydney, and Hong Kong,” said the CEO of Henley & Partners, Juerg Steffen, in a statement. Being able to move yourself, your family, or your business to a better city or having the choice between multiple homes around the world is becoming a more important part of planning for private clients’ international wealth and legacy.
After New York, Tokyo was the second-wealthiest city with 290,300 millionaires. The Bay Area in California had the most millionaires with 285,000, followed by London with 258,000 and Singapore with 240,100. Los Angeles was sixth on the list with 205,400 millionaires, and Chicago was eleventh with 124,000 millionaires.
When it came to very rich people (billionaires), the Bay Area had the most, with 63. New York was second, with 58, and Beijing was third, with 43.
But just because a city is pricey doesn’t mean you can’t find deals and do things that won’t break the bank. In New York, for example, there are cheap hotels and free things to do, like taking the Staten Island Ferry and watching birds in Central Park. You can also walk across the Brooklyn Bridge and rest on one of the city’s public beaches for free.
And in San Francisco, visitors can walk or ride their bikes across the famous Golden Gate Bridge, have a lunch in Alamo Square Park (made famous by the TV show “Full House”), and see the Mission Murals for free or very little money.
Additional Insights
- Beijing and Shanghai have seen a relative decline in ranking, now outside the global top 10 for millionaires, but still remain significant wealth centers.
- Mumbai and Delhi are the only Indian cities in the top 50, with Mumbai ranked 24th and Delhi 37th.
- Monaco is the most expensive city for real estate, but not the top by millionaire count.
Trends
- U.S. cities dominate the global list, with 11 in the top 50.
- Wealth migration is increasingly influenced by cities offering investment migration programs, robust legal frameworks, and high quality of life.
- Asia-Pacific cities are growing rapidly, with significant increases in millionaire populations, especially in China and the UAE.
“These urban centers share common DNA – robust legal frameworks, sophisticated financial infrastructure, and perhaps most critically, investment migration programs that welcome global talent and capital.”
- Juerg Steffen, CEO of Henley & Partners.
Read the original article on Travel & Leisure
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