According to the Henley Global Citizens Report for Q3 of 2022, Asia
Pacific dominated the charts for the continent with the most
millionaires. It is also interesting to note that out of the 20 cities
listed, 14 are in countries that host formal investment migration
programmes and actively encourage foreign direct investment in return
for residence or citizenship rights.
1. New York: The wealthiest city that never sleeps
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Some 345,600 millionaires, 737 centi-millionaires (whose wealth is
estimated at US$100 million and above) and 59 billionaires call the Big
Apple home. This comes to little surprise considering that New York also
houses the world’s two largest stock exchanges.
Most notably, the combined private wealth held by all its citizens
goes beyond US$3 trillion, higher than the total private wealth across
most major G20 countries.
2. Tokyo: Gambatte, Japan!
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Despite a waning currency and borders that remain relatively
shuttered in the past three years, the people of Japan are not only
pulling through, but also making bank. Tokyo has 304,900 millionaires,
263 centi-millionaires and 12 billionaires.
The low number of billionaires compared to many other cities in the
list shows that wealth is relatively evenly distributed, with the middle
classes and lower-tier millionaires holding most of the city’s wealth.
3. San Francisco: The Golden City is paved with gold
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The city of San Francisco alongside Silicon Valley makes up the San
Francisco Bay area which comprises of 276,400 millionaires, 623
centi-millionaires and 62 billionaires.
People who made their money in technology at Silicon Valley make up a
significant portion of its billionaire population. The area includes
affluent towns such as Atherton and Los Altos Hills.
4. London: Where the royals and rich reside
Photo Credit: GettyImages/TomasSereda
London has maintained its status for being one of the wealthiest
cities for a good number of years. Today, 272,400 millionaires, 406
centi-millionaires and 38 billionaires call it home. The homes and
apartments that overlook Hyde Park and Regents Park houses some of
5. Singapore: The city that inspired Crazy, Rich Asians
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The Lion City comes in fifth with 249,800 millionaires, including 336
centi-millionaires and 26 billionaires. Singapore is well-known
internationally as one of the world’s most business-friendly city and a
top destination for migrating millionaires.
Some of the more notable high-net-worth personalities who have
migrated to Singapore include the likes of Facebook’s co-founder Eduardo
Saverin and Dyson founder James Dyson.
6. Los Angeles
Los Angeles has 192,400 resident millionaires, 393 centi-millionaires and 34 billionaires.
Chicago has 160,100 millionaires, 340 centi-millionaires and 28 billionaires.
Houston has 132,600 millionaires, 314 centi-millionaires and 25 billionaires.
Beijing has 131,500 resident millionaires, 363 centi-millionaires and 44 billionaires.
Shanghai has 130,100 millionaires, 350 centi-millionaires and 42 billionaires.
Sydney has 129,500 millionaires, 188 centi-millionaires and 16 billionaires.
12. Hong Kong
Hong Kong has 125,100 millionaires, 280 centi-millionaires and 28 billionaires.
Frankfurt has 117,400 millionaires, 161 centi-millionaires and 14 billionaires.
Toronto has 116,100 resident millionaires, 187 centi-millionaires and 17 billionaires.
Zurich has 105,100 millionaires, 258 centi-millionaires and 12 billionaires.
Seoul has 102,100 resident millionaires, 241 centi-millionaires and 25 billionaires.
Melbourne has 97,300 millionaires, 149 centi-millionaires and 12 billionaires.
18. Dallas & Fort Worth
The Dallas & Forth Worth metroplex has 92,300 millionaires, including 211 centi-millionaires and 18 billionaires.
Geneva has 90,300 millionaires, 345 centi-millionaires, and 16 billionaires.
Paris has 88,600 millionaires, including 121 centi-millionaires and 15 billionaires.
Up-and-coming cities: Dubai, Mumbai, and Shenzhen
comes in at 23rd, Mumbai ranks 25th and Shenzhen stands at 30th. But
this may change in the near future, as Henley predicts these three
cities to break into the top 20 by 2030 due to their fast-growing