“God raises them and they come together,” says a popular saying of Castilian origin; and although parenting cannot be easily defined, the truth is that millionaires are concentrated in critical sectors around the world. Taking into account the World’s Richest Cities Report 2023 by Henley and Partners, we highlight the metropolitan areas globally where high net worth people live in greatest numbers.
The city with the most millionaires in the world is New York, which has 340,000 residents with US$1 million or more in investable wealth. which is equivalent to approximately 4% of the city’s total population. Those who already have successful careers have a natural meeting point in this city with an apparent magnetism for money, just as its status as a global financial center also attracts millions of people in search of well-paying jobs.
In Tokyo, the city that is in second place in this ranking, there are about 290,000 millionaire people. an impressive figure, although closely followed by the Bay Area, which includes San Francisco and Silicon Valley, with a population of 285,000 millionaires.
Also in prominent places on the list are other important global financial centers such as London, in fourth place; Singapore, in fifth, and Hong Kong, in seventh. Beijing and Shanghai, The names that lead the trade in China appear in eighth and ninth place, respectively. Los Angeles, the center of the North American television and film industry, is in sixth place.
Australia, attractive for millions and millionaires
The city of Sydney, the largest and most populated in Australia and the entire continent of Oceania, closes the top 10 of this exclusive list, with more than 100,000 millionaire residents.. It is worth mentioning that Australia has established itself as a destination for the migration of important world capitals with attractions such as the possibilities of access to the giant Asian markets, the absence of inheritance taxes and high quality of life indices. An example of this trend is the location of another Australian city, Melbourne, in 17th place.
Which side of the world are they focused on?
The United States is the country with the most cities positioned among the 20 cities where the largest number of millionaires live around the world. To the already mentioned New York, the San Francisco Bay Area and Los Angeles, with positions in the top 10, are added Chicago and Houston, in positions 11 and 15 respectively.
Like China and Australia, with two cities in the top 20 each, Switzerland is another nation with more than one name on the list, thanks to the concentration of millionaires in Zurich, 14th, and Geneva, 19th.
However, if the richest cities in the world are grouped by continents, one must Seven Asian cities are in the top 20 of the list (Tokyo, Singapore, Hong Kong, Beijing, Shanghai, Seoul and Dubai) and five of them are in the top 10.
Another six are North American, since the Canadian Toronto, located in 12th place, joins the five Americans. Five positions on the list are occupied by European cities (London, Frankfurt, Zurich, Paris and Geneva). The remaining ones are the already mentioned two from Oceania, both from Australia.