The list of the world’s richest cities in 2025 reveals a dynamic shift, with emerging metropolises like Singapore and Sydney gaining prominence among the ultra-wealthy alongside established financial hubs.
The financial landscape of the world is undergoing a significant transformation as we approach 2025, with new trends emerging in the distribution of wealth. While cities such as New York and the Bay Area remain at the forefront as major financial hubs, other cities like Singapore and Sydney are seeing a rise in prominence as top destinations for the affluent. This shift is encapsulated in a recent report from Henley & Partners in collaboration with New World Wealth, which outlines the world’s wealthiest cities based on millionaire and billionaire populations.
New York City continues to lead as the richest city globally, boasting approximately 384,500 millionaires, 818 centimillionaires (individuals with assets exceeding $100 million), and 66 billionaires. The city’s financial industry, coupled with its high-end real estate market and cultural attractions, makes it an enduring draw for the ultra-wealthy despite challenges such as high living costs and concerns about safety.
In the United States, the Bay Area, encompassing Silicon Valley and San Francisco, holds its place as a burgeoning center of wealth. With a staggering 98% increase in prosperity over the past decade, the area is now home to around 305,700 millionaires. Its renowned tech sector and culture of innovation are key factors driving this economic surge.
Tokyo establishes itself as the wealthiest city in Asia, with 298,300 millionaires. The steady accumulation of wealth in the city is attributed to technological advancements, a strong corporate presence, and a stable economy.
Singapore is emerging as a favored enclave for affluent individuals, with 244,800 millionaires and 30 billionaires residing in the city-state. Its appeal is rooted in factors such as safety, a lack of capital gains tax, and pro-business regulations, which together foster an environment conducive to wealth accumulation.
Los Angeles finds its niche by blending entertainment with business, hosting 43 billionaires, 516 centimillionaires, and 212,100 millionaires. Though Hollywood remains its claim to fame, the city is also a major hub for industries such as real estate and technology.
Although London has experienced a 15% decline in its wealthy population over the past decade, with 227,000 millionaires, it remains an appealing destination due to its historical and cultural significance. Challenges like Brexit, increased taxes, and changes to domicile laws have impacted its affluent demographics, but the city’s allure persists.
Paris, with 165,000 millionaires, is the richest city in mainland Europe. Its unique combination of business, fashion, and culture ensures its ongoing attraction for wealthy individuals.
Hong Kong continues to be a vital financial hub, home to 154,900 millionaires. Despite a slight dip in its affluent population, the city’s financial services industry and strategic location maintain its draw for the wealthy.
Sydney, with its growing community of 152,900 high-net-worth individuals, is increasingly popular among the world’s wealthy elite. Economic growth and a high standard of living are key drivers of its rising status among affluent citizens.
Chicago rounds out the top ten wealthiest cities with 127,100 millionaires. Its diverse economy and strategic location make it a significant center of wealth within the United States.
The global distribution of wealth is notably shifting, as cities that were not traditionally seen as financial epicenters begin to attract and cultivate significant concentrations of wealth. This trend signifies a change in where the ultra-rich choose to live and invest their fortunes, pointing to broader economic and social transformations on the global stage.