New York has once again claimed the top spot among all cities in the world for the number of dollar millionaires. According to the annual report by consulting firm Henley & Partners, prepared in collaboration with analytical firm New World Wealth, New York is home to 384,500 millionaires, which is a 45% increase compared to the last ten years.
This is reported by Finway
Among them, 818 individuals have assets exceeding $100 million. The second place in the ranking is held by the San Francisco Bay Area, which includes the city of San Francisco and Silicon Valley. Over the past decade, the number of millionaires in this region has increased by 98%, reaching 342,400.
Progress of Other Cities Worldwide
High growth rates in the number of millionaires are also observed in Shenzhen (142%), Hangzhou (108%), and Dubai (102%). It is worth noting that San Francisco now has more billionaires than New York — 82 compared to 66.
Changes in the Top 50 Cities Worldwide
Dubai showed the most growth among the top 50 cities in the world over the past year, rising from 21st to 18th place. The number of dollar millionaires in the city stands at 81,200. In contrast, the most significant decline was recorded in Seoul, which dropped to 24th place from 19th.
The number of millionaires in Moscow and London has decreased over the past decade, making them the only cities to experience a decline. The Russian capital ranked 40th, losing two positions, with 30,000 millionaires, among which 178 individuals have assets over $100 million and 23 billionaires. London fell to sixth place with 215,700 millionaires, trailing behind Tokyo (292,300), Singapore (242,400), and Los Angeles (220,600). Since 2014, the number of millionaires in London has decreased by 12%, while in Moscow, it has decreased by 25%.
It is noteworthy that over the past year, there has been one change in the top fifty cities worldwide by the number of millionaires — Lisbon has entered this list with 22,200 millionaires, while Auckland in New Zealand has exited it.