Wealthiest Cities in World: According to Henley and Partners, there are a number of factors determining which cities are rich versus which are poor. The number of millionaires in a city is the parameter used to determine which city is the wealthiest. The number of millionaires in New York is 3,40,000, making it the world’s wealthiest city based on this. Tokyo, the San Francisco Bay Area, and London are ranked second, third, and fourth, respectively, as the world’s wealthiest cities. A list of the 15 richest cities in the world is presented based on the number of millionaires living there.
The wealthiest cities in World
Below, you will find a list of the top 15 richest cities in the world, as well as the countries in which they are located.
|San Francisco Bay area
The 15 richest cities in the world in 2024
The following is a list of the world’s richest cities:
1. New York
In addition to 136 billionaires, New York has 340,000 millionaires, making it the world’s richest city. The city is home to the two biggest stock exchanges in the world and its residents hold a combined total of USD 3 trillion in private wealth. In addition to being the capital of one of the most powerful countries in the world, the city also possesses some of the finest residential streets in the world.
There are 298,650 millionaires and 27 billionaires in Singapore, making it the second city-state in Asia to be included among the world’s top 15 richest cities.
Japan’s capital is among the world’s wealthiest cities with over 290,300 millionaires and 14 billionaires residing in the city. The city has a GDP of around 1.6 trillion dollars despite being a relatively small city in a very small country. As a result of the equitable distribution of wealth in Tokyo, there are fewer billionaires than millionaires.
4. San Francisco Bay area
There are 285,000 millionaires and 63 billionaires in San Francisco Bay Area, also known as the Bay Area. Silicon Valley is a global center for high technology and innovation. As a result, Silicon Valley attracts a high number of technology billionaires and a growing number of millionaires.
With 258,000 millionaires and 36 billionaires living in London, it is the richest city in the UK and the fourth richest in the world. The city is not only the richest, but also one of the most expensive in the world to live. A number of celebrities and members of the Royal Family also reside in London.
6. Los Angeles
There are many attractions to be found in Los Angeles, including Hollywood and Central Los Angeles skyline, Griffith Observatory, City Hall, Venice Beach, Echo Park, among others. Los Angeles is also known as the world’s entertainment hub. In addition, there are approximately 205,400 millionaires and 42 billionaires living in Los Angeles.
Chicago is a city with a highly diversified economy that is strong in many key sectors and is also home to 35 Fortune 500 companies. In addition to being one of the most favored places for millionaires and billionaires, Chicago currently possesses 124,000 millionaires as well as 24 billionaires, making it one of the richest cities in the nation.
A convergence of economic factors has fueled Houston’s rapid growth, making it one of the world’s richest cities in terms of wealth growth over the past 20 years. The city of Houston has 132,600 millionaires and 11 billionaires, making it one of the world’s richest cities.
Beijing is the capital city of China that houses the head offices of most of China’s largest companies. With 128,200 millionaires and 43 billionaires, the city ranks at ninth place among the world’s richest country and is only the third Asian city to do so. When it comes to number of billionaires, only New York City and the San Francisco Bay area top Beijing.
One of the fifteen richest cities in the world is Shanghai, another city in China. Shanghai ranks tenth in this list with 127,200 millionaires and 40 billionaires. The city is also known as China’s financial center and is home to the third largest stock exchange in the world.
The first city from Australia to enter the list of richest cities is Sydney. There are 126,900 millionaires and 15 billionaires residing in this small but peaceful city. Among the top cities in the world for economic opportunity, Sydney has a highly developed market economy that has strength in finance, manufacturing, and tourism.
12. Hong Kong
Hong Kong, which is officially known as the Hong Kong Special Administrative Region of the People’s Republic of China, was once the second richest city in Asia. In spite of the fact that the city ranks fifth in Asia and 12th overall, many of the wealthiest businessmen from Asia still consider Hong Kong to be their home.
As one of the world’s wealthiest cities and one of the world’s top financial centers, Frankfurt is the second country from the European Union region to make its mark on the list. The city is home to more than 102,200 millionaires and 14 billionaires, and despite having a lower GDP, Frankfurt ranks ahead of major German cities when it comes to millionaire populations.
Only one Canadian city, Toronto, ranks among the 15 richest cities. The city is home to 105,200 millionaires and 18 billionaires, making it one of the most favored spots for the rich. Many major companies have their headquarters in the city, as well as an incredibly fast-growing tech sector.
Switzerland’s capital, Zurich, is also referred to as the world’s private banking hub. This is due to the presence of many private banks in this city that have served some of the world’s wealthiest families for generations. Zurich has approximately 105,100 millionaires and 12 billionaires living in it, making it one of the world’s richest cities. Zurich is also a well-known tourist destination.