New York is bleeding millionaires, and San Francisco is winning them over. Here are the 20 cities with the highest number of millionaires in the world.
Lakshmi Varanasi
- New York has the most millionaires of any world city, but lost 12% of them in the first half of 2022.
- The US dominates the list with a total of 6 cities in the top 20.
Between the skyscrapers and bright lights, it seems like millionaires just can't pull themselves away from allure of the concrete jungle.
According to a new report published today by Henley & Partners, a firm that tracks wealthy individuals across the globe, New York tops the list of 20 cities with the most millionaires in the world.
The firm defines millionaires as anyone with $1 million or more in investable assets. That includes everything from cash, checking, and savings accounts to investments in stocks, government bonds, and mutual funds.
Several cities across the US are quickly catching up to the Big Apple, though, due in part to New York losing 12% of its wealthiest denizens over the first half of 2022. The San Francisco area, which came in second, saw its billionaire index increase 4% over that time frame, according to data collected by the intelligence firm New World Wealth.
On the whole, the US had the highest representation of any country on the list, with six of its major metropolitan areas claiming spots within the top 20. Across the world, Abu Dhabi and Dubai appear to have some of the fastest growing populations of millionaires, according to the report. While Russia — which has witnessed a mass migration of its moneyed classes in the past several years — had the largest outflow of millionaires of any country in the world.
See the full list of the top 20 millionaire metropolises and megalopolises below.
New York
Number of millionaires: 16,207
Number of billionaires: 59
Total population: 8.4 million, according to the US Census Bureau.
Tokyo
Number of millionaires: 7,613
Number of billionaires: 12
Total population: 37.3 million, according to World Population Review.
San Francisco
Number of millionaires: 13,513
Number of billionaires: 62
Total population: 815,000, according to the US Census Bureau.
London
Number of millionaires: 9,616
Number of billionaires: 38
Total population: 9 million, according to London Datastore.
Singapore
Number of millionaires: 8,376
Number of billionaires: 26
Total population: 5.6 million, according to World Bank.
Los Angeles
Number of millionaires: 8,938
Number of billionaires: 34
Total population: Approximately 3.9 million, according to the US Census Bureau.
Chicago
Number of millionaires: 7,740
Number of billionaires: 28
Total population: 2.7 million, according to the US Census Bureau.
Houston
Number of millionaires: 6,904
Number of billionaires: 25
Total population: 2.3 million, according to the United States Census Bureau.
Beijing
Number of millionaires: 6,633
Number of billionaires: 44
Total population: 19.6 million, according to National Bureau of Statistics of China (last reported in 2010).
Shanghai
Number of millionaires: 6,530
Number of billionaires: 42
Total population: 23 million, according to National Bureau of Statistics of People's Republic of China (last reported in 2010).
Sydney
Number of millionaires: 4,688
Number of billionaires: 16
Total population: 4.4 million, according to Australian Bureau of Statistics (last reported in 2011).
Hong Kong
Number of millionaires: 5,870
Number of billionaires: 28
Total population: 7.4 million, according to World Bank.
Frankfurt
Number of millionaires: 4,001
Number of billionaires: 14
Total population: 791,000, according to World Population Review.
Toronto
Number of millionaires: 4,347
Number of billionaires: 17
Total population: 6.7 million, according to Government of Canada 2021 Census report.
Zurich
Number of millionaires: 7,638
Number of billionaires: 12
Total population: 1.83 million, according to the Zurich Department of Mayor (last reported in 2011).
Seoul
Number of millionaires: 4,881
Number of billionaires: 25
Total population: 9.7 million, according to Seoul Solution.
Melbourne
Number of millionaires: 3,629
Number of billionaires: 12
Total population: 5.1 million, according to the Australian Bureau of Statistics (last reported in 2021).
Dallas
Number of millionaires: 4,551
Number of billionaires: 18
Total population: 1.3 million, according to the US Census Bureau.
Geneva
Number of millionaires: 8,645
Number of billionaires: 16
Total population: Approximately 200,000, according to United Nations (last reported in 2017).
Paris
Number of millionaires: 2,441
Number of billionaires: 15
Total population: 2.16 million, according to Department of Paris (last reported in 2019).
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