As the world’s wealthy grow richer, global mega cities are vying for inbound and domestic wealth through incentives such as residency by investment programmes, opportunistic taxation policies and high-end lifestyles serviced by super prime real estate, cultural offerings and work opportunities.
So, where do the world’s super rich call home?
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Residency and investment advisory firm Henley & Partners has just released its annual World’s Wealthiest Cities Report, offering a clear picture of how many millionaires, centi-millionaires (with over USD 100 million), and billionaires live in the world’s leading cities.
The report also tracks how these millionaire populations have changed in the past year.
1. New York, United States
Millionaires: 384,500
Centi-millionaires: 818
Billionaires: 66
Millionaire growth: 45%
An annual jostle for supremacy in a race run by the world’s top cities, 2025 is crowned by New York with 384,500 high-net-worth individuals including 818 resident centi-millionaires and 66 billionaires, according to the latest data released by the investment firm.
The US continues to dominate, with 11 cities on the Top 50 Cities for Millionaires list in the latest World’s Wealthiest Cities Report 2025.
2. San Francisco, United States
Millionaires: 342,400
Centi-millionaires: 756
Billionaires: 82
Millionaire growth: 98%
Hot on the heels of the Big Apple is the East Coast’s The Bay Area – spanning San Francisco, Silicon Valley and surrounding counties – which ranks second for UHNW headcount.
Number crunching reveals that the world’s largest US tech hub has 342,400 millionaires, almost twice as many as in 2014, 756 centi-millionaires and 82 billionaires – rising from 62 in 2024.
According to Bloomberg’s real time Billionaire Index, excluding Elon Musk, 21 of the wealthiest people in the world reside in exclusive Palo Alto in the San Francisco Bay Area including Facebook co-founder Mark Zuckerberg and Google co-founder Larry Page.
Realtor Magazine Research Analyst Hannah Jones cites strong performance of tech stocks as the key driver of wealth growth in the Bay Area as well as a high density of high-growth tech firms.
3. Tokyo, Japan
Millionaires: 292,300
Centi-millionaires: 262
Billionaires: 18
Millionaire growth: 4%
With just a 4% growth in the number of millionaires over a decade, Tokyo claims third place in the annual roundup with 292,300 millionaires, 262 centi-millionaires and 18 billionaires.
The Forbes Rich Lists counts Fast Retailing company founder and owner of Uniqlo Tadashi Yanai as Japan’s richest man. The self-made textile billionaire resides with his wife and two children in a US$78 million in the Woodlands outside of Tokyo.
4. Singapore
Millionaires: 242,400
Centi-millionaires: 333
Billionaires: 30
Millionaire growth: 62%
Ranked fourth globally and Asia’s second richest city, Singapore is a magnet for the world’s UHNWIs counting 242,200 millionaires – a 62% increase over the past 10 years, and 30 billionaires.
The regional financial hub and gateway to Asia also topped a recent roundup of Asia’s best cities to relocate to in 2025 compiled by money transfer site Remitly, topping pull factors such as healthcare, economic strength, safety, digital connectivity and family friendliness.
Singapore’s enduring global appeal is evident in its net inflow of millionaires, gaining 3,500 of the world’s wealthiest citizens in 2024 according to new data.
The young city-state also topped estate agent Knight Frank’s Asia-Pacific region Quality of Life report. Singapore is the single standout city to achieve a top five ranking across key metrics, attracting high-net-worth inbound migration.
Highly rated pull factors include political stability, developed financial services, a skilled workforce, and high living standards with established healthcare and education systems.
At time of writing, Facebook co-founder Eduardo Saverin is Singapore’s wealthiest resident with a staggering net worth of USD 29 billion. The ultra-prime Nassim Road is considered Singapore’s most expensive area, with sprawling Good Class Bungalows trading for eight-figure sums.
In 2024, a luxury mansion in Singapore’s most exclusive neighbourhood was put on the market for USD 308 million.
5. Los Angeles, USA
Millionaires: 220,600
Centi-millionaires: 516
Billionaires: 45
Millionaire growth: 35%
Ranking fifth globally and the third US city to feature in the top 10 world richest cities, Los Angeles has historically attracted wealth with elevated lifestyles backed by 330 days of sunshine a year, a glittering coastline, spectacular views and buoyed by its status as the headquarters of the global entertainment industry.
There are 220,600 millionaires calling Los Angeles home along with 45 billionaires and 516 centi-millionaires. The ultra-prime Beverly Hills, Sunset Strip and Malibu neighbourhoods offer elevated lifestyles and super prime real estate where famous residents include show business moguls, Hollywood elite and industry billionaires.
A Los Angeles villa – glamourised by shows such as ‘Selling Sunset’ – is considered to be the international status symbol of glitzy wealth with scarcity of land driving prime property prices to giddying heights.
Realtor Knight Frank’s annual Wealth Report reveals that Los Angeles offers the seventh least bang for buck globally, with USD 1 million stretching to just 37 sq m of prime real estate – almost half the amount the same amount would have purchased in 2014.
The hotly anticipated Aman Branded Residences and Club launching in 2026 will set the bar of international luxury standard to unprecedented levels.
6. London, UK
Millionaires: 215,700
Centi-millionaires: 352
Billionaires: 33
Millionaire growth: -12%
Experiencing a 12% reduction in the net number of millionaires from 2014 and a retro-forecasted -9,500 net outflow in 2024, London ranks sixth on the list of the world’s wealthiest cities with a headcount of 215,700 millionaires and 33 billionaires.
Despite having seemingly lost its sheen among the world’s elite, the top-tier metropolis remains a resilient safe haven for ultra-high-net-worth individual (UHNWI) capital and wealth preservation.
Investors and residents calling the UK capital home have access to the world’s best education provision, cultural offerings, connectivity and commercial and luxury residential real estate.
High-end property agent Savills notes that the London prime real estate market’s enduring appeal lies in its ne plus ultra of prestige, security, stability and holding or augmenting value.
Despite market resilience, Knight Frank’s Wealth Report data predicts a modest 2% price growth in 2025, citing a high presence of cash buyers and rising levels of global wealth as the key driver of price growth over the next five years.
In Autumn 2024 the Labour government confirmed plans to scrap the non-dom regime.
In its place a residence-based scheme will be introduced, which will provide incentives to investors and wealthy foreigners to come to the UK temporarily.
There is speculation that demand for luxury property from wealthy international clients will diminish as the UK’s less competitive tax jurisdiction turns attention to more lucrative global housing markets.
According to news sources, to inject stimulus into key economic sectors, the UK government is exploring plans for a new investor visa that would allow wealthy foreign nationals to settle in Britain if they invest in key sectors critical to the country’s economic recovery.
7. Paris, France
Millionaires: 160,100
Centi-millionaires: 277
Billionaires: 22
Millionaire growth: 5%
Still basking in the afterglow of the Paris Olympics, the world’s gaze translated to a kindling of love for the City of Light. Henley & Partners’ figures recorded 160,100 resident millionaires and 22 billionaires with a primary Paris address.
According to Knight Frank’s latest prime property price pagoda, USD 1 million will stretch to just 42 sq m of prime Paris real estate with a forecasted 2.5% price growth in 2025.
A traditional safe haven, The French capital’s luxury housing market enjoyed a renaissance after the show stopping Paris Olympics.
In the central areas of the capital, prices comfortably exceed EUR 10,000 per square meter for turnkey luxury properties, transactions gaining renewed momentum after the Olympic Games according to the Paris Property Group.
For international investors, the Paris luxury market holds perennial appeal. Trophy homes in one of the city’s premier arrondissements – widely considered to be the 1st and the 7th- are considered to be the ultimate additions to global property portfolios.
The Paris real estate blog cites the stable euro against major currencies and competitive Paris property prices as the key factors driving transactions among American, British, and Middle Eastern buyers.
In a blow for the city’s wealthy, in April 2025, France’s economy minister Eric Lombard said that the temporary wealth tax would likely become permanent.
If put into place, France’s high earners will have to pay more each year as the country battles a debt mountain. Individuals earning more than EUR 250,000 a year and couples with a joint income of more than EUR 500,000 will this year pay a minimum 20% income tax.
With an estimated net worth of USD 148.7 billion according to Forbes, the owner of luxury retail group LVMH Bernard Arnaud is Paris’s richest resident.
8. Hong Kong, China
Millionaires: 154,900
Centi-millionaires: 346
Billionaires: 40
Millionaire growth: 3%
One of China’s premier lifestyle and investment destinations for international and mainland investors, vibrant Hong Kong is one of Asia’s established, top-tier finance, economic and lifestyle hubs.
Elevated lifestyles are literally and metaphorically played out on Hong Kong’s tallest island Victoria Peak, where many of the city’s 154,900 millionaires and 40 billionaires call home.
In 2024, a Hong Kong Peak villa sold for a staggering USD 110 million dollars according to Bloomberg. However, trophy homes are being sold for below market value, as the sluggish Chinese economy struggles to recover due to trade war instability.
Despite challenging trade winds, safe haven status among Chinese mainland and international investors continues to buoy values, with prime property prices still the highest in Asia, averaging USD 4,172 per sq ft.
According to realtor Knight Frank, research reveals that the SAR offers the second least living space per USD 1 million, stretching to a modest 22 sq m shoebox.
Hong Kong scored highly in Knight Frank’s “Quality Life-ing: Mapping Prime Residential Hotspots” report, with the Asian hub ranking second across five key indicators: Economy, Human Capital, Quality of Life, Environment, and Infrastructure and Mobility.
According to the Forbes annual Rich List, business tycoon Li Ka-shing, worth USD 37.3 billion, is Hong Kong’s richest resident. He currently resides in Shouson Hill – one of the city’s most expensive millionaire neighbourhoods counting Alibaba co-founders as some of its monied residents.
In a densely packed landmass, super prime, roomy homes with expansive vistas cluster around ultra-prime The Peak, Repulse Bay, Chung Hom Kok, Stanley and Clear Water Bay.
9. Sydney, Australia
Millionaires: 152,900
Centi-millionaires: 224
Billionaires: 22
Millionaire growth: 28%
A safe haven for domestic and international wealth, dynamic and cosmopolitan Sydney offers unyielding allure for the UHNW, drawing more than a third of Australia’s growing UHNW population.
The Australian financial capital is a long-standing safe haven for doing business with a strong economy and stable political system backed by top-tier education and healthcare provision. A favourable climate and environmental factors add to the tally of super-rich must-haves.
Top-end estate agents Savills forecasts high demand for Sydney property, fanning strong levels of growth. Diminishing supply is key in Sydney and many key global hubs, with luxury buyers chasing limited volumes of high-quality stock.
Many of Sydney’s 152,900 millionaires and 22 billionaires will opt for trophy homes on one of Australia’s most expensive roads – Sydney’s Wolseley Road in Point Piper.
Famous residents include Westfield shopping mall chairman Frank Lowy, Hungry Jacks’ owner Jack Cowin and ex-Prime Minister Malcolm Turnbull.
Sydney is the 11th most expensive city in the world to buy luxury real estate according to research published in Knight Frank’s The Wealth Report, offering some of the least bang for buck.
Buyers with USD 1million to spend on a prestige home in Sydney will have just 45 sqm of leg room, but that’s more value for money than in many other global cities.
Australia ranked number one for quality of life and reputation for those seeking the ultimate global residency by investment programmes according to Henley & Partners’ data. Also in first place for the same metrics ranked New Zealand, Canada and Switzerland.
One of the city’s ultra-prime addresses includes One Barangaroo offering iconic, one-of-a-kind views of Sydney Harbour.
10. Chicago, USA
Millionaires: 127,100
Centi-millionaires: 295
Billionaires: 25
Millionaire growth: 24%
The fourth US city to feature on the top ten list of the world’s richest cities, Chicago surprisingly tops Tokyo, Paris and Sydney for the number of billionaires, which stands at 25.
The Windy City also beat Milan and Beijing to take the tenth spot on the coveted list counting 127100 resident millionaires.
A new report by personal finance website GOBankingRates lists 50 of the USA’s wealthiest neighbourhoods based on average household values, which includes Chicago’s prime Hinsdale and Lake Forest suburbs with typical home values of USD 1,088,871 and USD 1,097,029, respectively.
The vibrant Midwest city’s upmarket Gold Coast area, close to the Lake Michigan shoreline, is where old and new money brush shoulders. Here, you’ll find Chicago’s leafy streets lined with exclusive, super-prime homes including multi-million, historic mansions, opulent condos, designer boutiques and top restaurants.
According to the recently published Forbes list of billionaires worldwide for 2025, heir to the Walmart empire Lukas Walton, worth USD 37.9 billion, is the richest person in Illinois. His super mansion in the uber-premium Lincoln Park area on Chicago’s North Side was sold for USD 1.7 million.
Other ultra-wealthy Chicagoans include ‘Beanie Babies’ soft toy creator Ty Warner and Hyatt Hotels chairman Thomas Pritzker.
