In today’s richest cities, a single-bedroom flat might set you back more than a lifetime of wages — this is where wealth lives in 2025. According to the World’s Wealthiest Cities Report 2025 by Henley & Partners (a global leader in residence and citizenship by investment) and New World Wealth (a global wealth intelligence firm based in South Africa), these ultra-affluent urban hubs are booming.
The report ranks cities based on the number of resident millionaires, centi-millionaires (worth over USD 100 million), and billionaires, while also tracking how these populations shifted in the past year.
New York City
Retaining its top position, New York City is home to 384,500 millionaires, including 818 centi-millionaires and 66 billionaires. The city’s financial sector continues to thrive, with Wall Street remaining a global powerhouse. Luxury real estate in Manhattan commands premium prices, and the city’s elite often retreat to estates in the Hamptons on weekends.
The Bay Area
The Bay Area, encompassing San Francisco and Silicon Valley, ranks second with 342,400 millionaires and 82 billionaires. The region has experienced a remarkable 98 percent increase in its millionaire population over the past decade, driven by tech giants like Tesla, Meta, Apple, and Google. Private chefs, AI-driven homes, and eco-conscious mega-mansions are common among affluent residents.
Tokyo
In third place, Tokyo boasts 292,300 millionaires. Japan’s economic stability and deep-rooted business traditions continue to attract and retain wealth, with many fortunes being intergenerational. The city’s affluent enjoy upscale dining, luxury shopping in districts like Ginza, and extensive art collections.
Singapore
Singapore secures the fourth spot with 242,400 millionaires. The city-state has seen a significant 62 percent rise in its millionaire population, attributed to its favorable tax policies, political stability and cosmopolitan lifestyle. It remains a top destination for wealthy individuals from China, India and Indonesia.
Los Angeles
Los Angeles climbs to fifth place, overtaking London, with 212,100 millionaires. The city’s entertainment industry continues to produce stars, producers, and streaming-era moguls who reside in affluent neighborhoods like Beverly Hills, Malibu and Bel-Air.
London and Paris
London has fallen to sixth place, experiencing a 12 percent decline in its millionaire population over the past decade, now hosting 215,700 millionaires. Factors contributing to this decline include high taxes, Brexit, and a less competitive tech sector. Paris, in seventh place, is home to 165,000 millionaires. Both cities continue to exude heritage and class, with elite institutions and cultural offerings.
Hong Kong
Hong Kong ranks eighth with 154,900 millionaires. Despite political shifts and competition from other financial hubs, the city remains a luxury hotspot, particularly in real estate and high-end retail. From towering skyscrapers to opulent residences overlooking Victoria Harbour, Hong Kong epitomizes premium living.
Sydney
Sydney’s ninth-place finish reflects Australia’s stable economy, booming property market and appealing lifestyle, attracting 147,000 millionaires. The city’s harborfront mansions and beachside retreats are highly sought after.
Chicago
Rounding out the top 10, Chicago is home to 135,000 millionaires. The city maintains a diverse economy with a mix of old money, emerging tech startups and a robust financial services sector. Its affluent residents enjoy restored townhouses, exclusive clubs and high-end dining experiences.