Top 10 Wealthiest Cities in 2025: Where the World's Richest People Are Moving
In 2025, the global wealth map is undergoing significant changes, with new cities emerging as top destinations for the ultra-wealthy. From tech hubs to tax-friendly havens, these cities are attracting the world's richest individuals.
WealthMillionairesGlobal CitiesReal EstateTech HubsReal EstateMay 22, 2025
New York City
New York City remains the pinnacle of wealth, home to a staggering 384,500 millionaires, 818 centi-millionaires (people worth $100 million or more), and 66 billionaires. Despite the rising cost of living and some ongoing crime concerns, NYC’s allure hasn’t diminished for the ultra-wealthy. With Wall Street, luxury real estate, Broadway, and global cultural clout, it continues to be the ultimate money magnet.
The Bay Area
Right behind is The Bay Area, encompassing San Francisco and Silicon Valley, which now hosts 305,700 millionaires. This region has seen a 98% surge in millionaire count since 2013, making it one of the fastest-growing wealth hubs in the world. The presence of Big Tech companies like Apple, Meta, and Google, along with a culture of innovation, has been a key driver of this growth.
Tokyo
Tokyo remains Asia’s richest city with 298,300 millionaires. Its economic stability, strong corporate base, and tech sector have kept it consistently near the top. Although it doesn’t have as many billionaires as some other global cities, Tokyo remains an economic powerhouse with deep-rooted wealth.
Singapore
Singapore, though small in size, is making significant waves. With 244,800 millionaires and 30 billionaires, this city-state is becoming a favorite for global high-net-worth individuals. Pro-business policies, safety, no capital gains tax, and a well-run, clean environment are major draws.
Los Angeles
Los Angeles, where glitz meets business, is home to 212,100 millionaires, 516 centi-millionaires, and 43 billionaires. LA isn’t just about movie stars anymore; it’s also a serious hub for tech, real estate, and entertainment money.
London
London, once a clear leader, has slipped to sixth place. The city now has 227,000 millionaires, but that number has dropped by 15% over the past decade. Factors such as Brexit, higher taxes, and shifts in its non-domicile rules have led to a gradual exodus of the ultra-rich. However, London still boasts immense cultural and historical appeal, so it remains a significant player.
Paris
In Paris, luxury drives wealth. With 165,000 millionaires and a booming fashion and luxury industry, the French capital continues to attract the rich. Its iconic charm, food, fashion houses, and old-money families help it retain a strong position among elite cities.
Hong Kong
Hong Kong, despite recent political and economic uncertainties, continues to be a top financial center. It houses 143,400 millionaires and remains a gateway to China for global investors. Real estate and finance dominate the city’s wealth profile, though the growth rate has slowed.
Sydney
Sydney is one of the fastest-growing cities in terms of millionaire count, now home to 142,700 millionaires. The city benefits from a strong property market, growing tech industries, and a high quality of life. It’s increasingly seen as a haven for wealthy individuals looking for stability and sunshine.
Chicago
Rounding out the top 10 is Chicago, with 120,500 millionaires. Known for its diversity in industry—from finance to healthcare and even manufacturing—Chicago has quietly remained a key city for wealth in the US.
Interestingly, some other cities are climbing the ranks fast. Dubai is now in 18th place with 72,500 millionaires, a 102% growth in the past decade. Its zero income tax, luxury lifestyle, and safe environment make it a magnet for the wealthy, especially from Russia, India, and Africa. Even Shenzhen and Hangzhou in China have seen explosive growth—over 100%—driven by booming tech sectors and entrepreneurship. On the other hand, Seoul has slipped down the list, falling five places this year to 24th. While still a strong economy, the pace of wealth creation there seems to be slowing down compared to other Asian hubs.
So, whether you’re watching real estate trends, startup hotbeds, or the next luxury destination, this latest wealth map shows that money is not just staying put—it’s moving fast, and cities are competing harder than ever to attract it. With the rise of digital nomads, remote work, and new visa schemes, we’re likely to see even more shake-ups in the coming years.
Frequently Asked Questions
Which city has the highest number of millionaires in 2025?
New York City has the highest number of millionaires in 2025, with 384,500 millionaires.
What factors make The Bay Area one of the fastest-growing wealth hubs?
The Bay Area's rapid growth in wealth is driven by the presence of Big Tech companies like Apple, Meta, and Google, along with a culture of innovation.
Why is Singapore becoming a favorite for global high-net-worth individuals?
Singapore is becoming a favorite due to its pro-business policies, safety, no capital gains tax, and a well-run, clean environment.
What has caused London to slip in the ranking of wealthiest cities?
London has slipped in the ranking due to factors such as Brexit, higher taxes, and shifts in its non-domicile rules, leading to a gradual exodus of the ultra-rich.
What is driving the growth in wealth in Sydney?
Sydney's growth in wealth is driven by a strong property market, growing tech industries, and a high quality of life, making it an attractive haven for wealthy individuals.
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