Despite inflation taking a toll on many New Yorkers’ bank accounts, some locals are thriving financially. A recent global ranking has crowned New York as the richest city in the world, outpacing cities like Paris, Singapore, and London in millionaire density.
The survey, conducted by Henley & Partners in collaboration with wealth intelligence firm New World Wealth, considered various factors to determine the wealthiest cities globally.
New York’s top ranking is largely attributed to its impressive number of affluent residents. The city boasts 349,500 millionaires, marking a 48% increase over the past decade. Additionally, it is home to 744 centi-millionaires—those with over $100 million in investable assets—and 60 billionaires.
While New York’s millionaire population grew significantly, London experienced a 10% decline over the same period, causing it to drop to fifth place in the rankings.
In total, 11 U.S. cities made it into the top 50 richest cities globally, reflecting the high cost of living and wealth concentration in many American metropolitan areas.
Top 10 Richest Cities in the World:
- New York
- The Bay Area
- Tokyo
- Singapore
- London
- Los Angeles
- Paris
- Sydney
- Hong Kong
- Beijing
