From New York To London: List of top 20 cities with highest number of millionaires in the world
Cities with the most millionaires
In 2022, the United States is dominating the world's top 20 wealthiest cities, as six American cities are listed.
As per a new report by Henley & Partners, New York has topped the list of 20 cities with the most millionaires in the world. Henley & Partners is a firm that tracks wealthy individuals across the globe.
Who are millionaires?
An individual with a net worth or wealth equal to or more than one million units of currency is a millionaire. Well, it depends on the currency and being a millionaire is also based on a certain level of prestige.
In the report, millionaires or high-net-worth individuals refer to those with investable assets of USD one million or more.
The US dominates the list
The US is dominating the list with six cities—New York (1st), San Francisco Bay Area (3rd), Los Angeles & Malibu (6th), Chicago (7th), Houston (8th), Dallas & Fort Worth (18th).
Cities from the Asia-Pacific region
There are eight cities in the Asia-Pacific region—Tokyo (2nd), Singapore (5th), Beijing (9th), Shanghai (10th), Hong Kong (12th), Seoul (16th), and Melbourne (17th).
Two Swiss cantons are also in the top 20 list—Zurich and Geneva. The report refers to them as canton rather than the city.
London is in the 4th spot.
Dynamics of the list
Out of the 20 cities listed, 14 are in countries that host formal investment migration programmes.
Report also mentioned that these countries are actively encouraging Foreign Direct Investment (FDI) in return for residence or citizenship rights.
Methodology of creating most millionaires list
The report mentioned that the high-net-worth-individual population data representing the top 20 cities globally in terms of resident millionaires as of 30 June 2022.
Here's the full list
- New York - Number of millionaires: 16,207
- Tokyo - Number of millionaires: 7,613
- San Francisco - Number of millionaires: 13,513
- London - Number of millionaires: 9,616
- Singapore - Number of millionaires: 8,376
- Los Angeles - Number of millionaires: 8,938
- Chicago - Number of millionaires: 7,740
- Houston - Number of millionaires: 6,904
- Beijing - Number of millionaires: 6,633
- Shanghai - Number of millionaires: 6,530
- Sydney - Number of millionaires: 4,688
- Hong Kong - Number of millionaires: 5,870
- Frankfurt - Number of millionaires: 4,001
- Toronto - Number of millionaires: 4,347
- Zurich - Number of millionaires: 7,638
- Seoul - Number of millionaires: 4,881
- Melbourne - Number of millionaires: 3,629
- Dallas - Number of millionaires: 4,551
- Geneva - Number of millionaires: 8,645
- Paris - Number of millionaires: 2,441
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