The Top Richest Cities in the World

New York, the San Francisco Bay Area, and Tokyo dominate the 2025 global wealth rankings, reflecting the influence of finance and technology on the concentration of millionaires and billionaires in major cities. At the same time, rapid growth in cities such as Shenzhen, Dubai, and Miami signals shifting wealth patterns driven by innovation, tax efficiency, and lifestyle advantages. Increasing international relocation among high-net-worth individuals (HNWIs) highlights the strategic role of favourable tax regimes, political stability, quality of life, and citizenship or residence-by-investment options in long-term wealth and mobility planning.

Wealth capitals highlight the intersection of global opportunity, lifestyle, and investment potential. For investors interested in global wealth trends and mobility, these rankings provide valuable strategic insights. Notably, seven of the top ten wealthiest cities are in countries with residence-by-investment programmes, indicating that access is as important as accumulation.

Cities With the Most Millionaires

Which city has the most millionaires? According to Henley & Partners’ World’s Wealthiest Cities Report 2025, the United States leads with 11 cities in the top 50. Below is a list of the cities with the most millionaires worldwide:

• New York: 384,500 millionaires, 818 centi-millionaires, 66 billionaires
• San Francisco Bay Area: 342,400 millionaires, 82 billionaires (more than NYC), 98% growth over ten years
• Tokyo: 292,300 millionaires, supported by a strong Nikkei recovery
• Singapore: 242,400 millionaires, a 62% increase over the decade
• Los Angeles: 220,600 millionaires, now ranks fifth, surpassing London

What City Has the Most Billionaires?

According to Henley & Partners’ World’s Wealthiest Cities Report 2025, the Bay Area leads with 82 billionaires, surpassing New York’s 66. Technology wealth continues to reshape the landscape, with founders from Meta, Oracle, and Google based in Silicon Valley. Hong Kong ranks third globally with 72 billionaires, followed by Los Angeles (45) and London (33).

Summary Table of the Top 10 Wealthiest Cities in the World

Fastest-Growing Wealth Hubs

City rankings provide only a partial view. Growth trends indicate where wealth is moving next.

Shenzhen leads globally with 142% millionaire growth, now home to 50,800 millionaires. As headquarters for Huawei, Tencent, and BYD, the city has become China’s tech wealth engine. Dubai follows at 102% growth, attracting roughly 6,700 millionaire migrants in 2024 alone—more than any other city worldwide. Dubai’s zero-income tax and luxury-lifestyle proposition make it particularly attractive to HNWIs planning to migrate.

Meanwhile, Miami’s 94% growth reflects Florida’s tax advantages, drawing finance professionals and tech entrepreneurs southward. On a similar note, Bengaluru, often called India’s “Silicon Valley,” has seen tremendous growth as the country’s startup ecosystem matures.

Why Millionaires Are Relocating

A record 142,000 millionaires relocated internationally in 2025. Several factors are driving this trend:

• Tax optimisation: Countries with favourable capital gains and inheritance tax structures attract mobile wealth. Jurisdictions such as the UAE, Monaco, and Singapore offer significant advantages.
• Political stability: Wealthy families increasingly seek jurisdictions with strong property rights and reliable governance. Uncertainty at home encourages HNWIs to seek safer locations.
• Quality of life: Access to healthcare, education, and clean environments influences decisions beyond purely financial considerations. Many families prioritise these factors for future generations.

London’s fall to sixth place in the global wealth rankings, with a 12% decline over ten years, clearly signals this shift. The UK reportedly lost 16,500 millionaires in 2025, marking the largest single-year exodus on record. Brexit uncertainty, capital gains tax increases, and the end of the non-domiciled regime have accelerated departures to the UAE, Monaco, Portugal, and Switzerland.

How Citizenship by Investment Supports Global Mobility

The link between wealthy cities and investment migration isn’t coincidental. HNWIs often view a second citizenship or residence as an opportunity to unlock visa-free travel, banking access, tax-planning flexibility, and educational opportunities for children. It also provides insurance against political or economic instability at home.

Programme Options for Investors

For those considering global mobility, several pathways provide access to the world’s most attractive jurisdictions:

For detailed programme analysis, explore our citizenship by investment country comparison.

Plan Your Next Move

Global wealth patterns reveal a clear trend: the most successful investors plan their location as carefully as their portfolios. Whether you are building wealth in an emerging tech hub, seeking better opportunities for your family, or optimising your tax position, understanding where millionaires relocate and why provides a strategic advantage.

Premier Consultancy’s migration experts have over 20 years of experience assisting HNWIs in securing second citizenship through citizenship by investment programmes. Our distinguishing features include:

• End-to-end VIP service: From initial consultation to passport collection, we manage every detail.
• Global presence: Offices in London, Dubai, Bangkok, and Nairobi provide local expertise where you need it.
• Integrated advisory: Immigration, tax-planning, real estate, and business services are available under one roof.
• Proven track record: Over 500 successful applications processed across multiple programmes.

References:

• Henley & Partners. (2025, April 8). World’s wealthiest cities report 2025. https://www.henleyglobal.com/publications/wealthiest-cities-2025
• New World Wealth. (2025). Wealth reports.https://newworldwealth.com/reports

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