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Ranked: Cities With the Most Millionaires in the World

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A chart listing the cities where the most millionaires live.

Cities With the Most Millionaires in the World

Richie Rich’s town of residence Harveyville may not exist, but the world’s real-life millionaires are congregating in hotspots around the globe.

From the World’s Wealthiest Cities Report 2023 by Henley & Partners, we map out the top 20 metro areas around the world where the most millionaires live.

Which City Has the Most Millionaires?

Heading the list, New York City boasts of an astonishing 340,000 millionaire residents, accounting for approximately 4% of the city’s total population. New York’s status as a global financial hub attracts millions seeking high-paying jobs, while those with lucrative careers are naturally drawn to the city.

Here’s the full ranking of cities with the most millionaires.

RankCity/AreaCountryHNWIs ($1M+)
1New York City🇺🇸 USA340,000
2Tokyo🇯🇵 Japan290,300
3The Bay Area🇺🇸 USA285,000
4London🇬🇧 UK258,000
5Singapore🇸🇬 Singapore240,100
6Los Angeles🇺🇸 USA205,400
7Hong Kong🇭🇰 Hong Kong SAR129,500
8Beijing🇨🇳 China128,200
9Shanghai🇨🇳 China127,200
10Sydney🇦🇺 Australia126,900
11Chicago🇺🇸 USA124,000
12Toronto🇨🇦 Canada105,200
13Frankfurt🇩🇪 Germany102,200
14Zurich🇨🇭 Switzerland99,300
15Houston🇺🇸 USA98,500
16Seoul🇰🇷 South Korea97,000
17Melbourne🇦🇺 Australia96,000
18Paris🇫🇷 France93,000
19Geneva🇨🇭 Switzerland85,800
20Dubai🇦🇪 UAE68,400
21Mumbai🇮🇳 India59,400
22Rome🇮🇹 Italy56,500
23Seattle🇺🇸 USA50,500
24Shenzhen🇨🇳 China45,700
25Osaka🇯🇵 Japan44,900
26Boston🇺🇸 USA41,700
27Kyoto🇯🇵 Japan40,400
28Miami🇺🇸 USA38,000
29Vancouver🇨🇦 Canada37,300
30Tel Aviv🇮🇱 Israel35,600
31Moscow🇷🇺 Russia35,200
32Perth🇦🇺 Australia33,900
33Brisbane🇦🇺 Australia31,900
34Austin🇺🇸 USA30,500
35Hangzhou🇨🇳 China30,400
36Delhi🇮🇳 India30,200
37Madrid🇪🇸 Spain29,000
38Auckland🇳🇿 New Zealand24,500
39Abu Dhabi🇦🇪 UAE24,200
40Manchester🇬🇧 UK24,200
41Nice🇫🇷 France23,900
42Guangzhou🇨🇳 China23,500
43Athens🇬🇷 Greece23,100
44Doha🇶🇦 Qatar21,500
45Lisbon🇵🇹 Portugal20,800
46Dublin🇮🇪 Ireland18,400
47Riyadh🇸🇦 Saudi Arabia18,100
48Montreal🇨🇦 Canada17,900
49Monaco🇲🇨 Monaco17,600
50Las Vegas🇺🇸 USA16,800
51Istanbul🇹🇷 Türkiye16,300
52Warsaw🇵🇱 Poland15,100
53Jerusalem🇮🇱 Israel15,100
54San Diego🇺🇸 USA14,700
55Calgary🇨🇦 Canada14,700
56Johannesburg🇿🇦 South Africa14,600
57Scottsdale🇺🇸 USA13,900
58Barcelona🇪🇸 Spain13,300
59Milan🇮🇹 Italy12,600
60Bengaluru🇮🇳 India12,600
61Edinburgh🇬🇧 UK12,400
62Santa Barbara
& Montecito
🇺🇸 USA12,300
63Kolkata🇮🇳 India12,100
64Greenwich & Darien🇺🇸 USA11,900
65Hyderabad🇮🇳 India11,100
66West Palm Beach🇺🇸 USA9,400
67Ho Chi Minh City🇻🇳 Vietnam7,700
68Florence🇮🇹 Italy7,500
69Cairo🇪🇬 Egypt7,400
70Cape Town🇿🇦 South Africa7,200
71St. Petersburg🇷🇺 Russia6,900
72Lagos🇳🇬 Nigeria5,400
73Budapest🇭🇺 Hungary5,300
74Nairobi🇰🇪 Kenya4,700
75Netanya🇮🇱 Israel4,300
76Herzliya🇮🇱 Israel3,900
77Sharjah🇦🇪 UAE3,800
78Durban🇿🇦 South Africa3,600
79Cape Winelands🇿🇦 South Africa3,400
80Garden Route🇿🇦 South Africa3,000
81Casablanca🇲🇦 Morocco2,800
82Pretoria🇿🇦 South Africa2,400
83Accra🇬🇭 Ghana2,000
84Luanda🇦🇴 Angola1,800
85Dar Es Salaam🇹🇿 Tanzania1,400
86Whale Coast🇿🇦 South Africa1,100
87Windhoek🇳🇦 Namibia1,100
88Marrakech🇲🇦 Morocco900
89Addis Ababa🇪🇹 Ethiopia800
90Kigali🇷🇼 Rwanda800
91Maputo🇲🇿 Mozambique800
92Mombasa🇰🇪 Kenya700
93Tangier🇲🇦 Morocco700
94Lusaka🇿🇲 Zambia600
95Swakopmund🇳🇦 Namibia300
96Walvis Bay🇳🇦 Namibia300

In the second spot, Tokyo is home to a substantial millionaire population of 290,000, closely followed by the Bay Area—San Francisco and Silicon Valley—with 285,000 high net worth individuals (HNWIs) possessing an investable wealth of $1 million or more.

Other major financial centers—London (4th), Singapore (5th), Hong Kong (7th)—take up the middle spots in the top 10, joined by China’s commerce juggernauts, Beijing (8th) and Shanghai (9th).

One notable entry to the list is Sydney, which surprisingly holds the 10th position, with more than 100,000 millionaires. Alongside Melbourne (17th), Australia has increasingly become a destination for millionaire migrations. This trend is driven by factors such as high livability ratings, access to Asian markets, and no inheritance tax in the country.

Where Have Millionaire Populations Boomed?

The world has gotten significantly richer in the last decade, both at a per capita level, as well as by the rising number of millionaires. Between 2010–2020 for example, the number of millionaires increased by nearly 65%.

Here’s a look at the cities which have seen the biggest change in their millionaire population between 2012–2022.

RankCity/AreaCountryHNWI growth %
(2012 to 2022)
1Hangzhou🇨🇳 China+105%
2Austin🇺🇸 USA+102%
3Shenzhen🇨🇳 China+98%
4West Palm Beach🇺🇸 USA+90%
5Scottsdale🇺🇸 USA+88%
6Bengaluru🇮🇳 India+88%
7Guangzhou🇨🇳 China+86%
8Sharjah🇦🇪 UAE+84%
9Ho Chi Minh City🇻🇳 Vietnam+82%
10Hyderabad🇮🇳 India+78%
11Miami🇺🇸 USA+75%
12Shanghai🇨🇳 China+72%
13Greenwich & Darien🇺🇸 USA+72%
14Kigali🇷🇼 Rwanda+72%
15Beijing🇨🇳 China+70%
16Delhi🇮🇳 India+70%
17Abu Dhabi🇦🇪 UAE+70%
18The Bay Area🇺🇸 USA+68%
19Seattle🇺🇸 USA+68%
20Houston🇺🇸 USA+65%
21Mumbai🇮🇳 India+65%
22Santa Barbara
& Montecito
🇺🇸 USA+65%
23Herzliya🇮🇱 Israel+65%
24Dubai🇦🇪 UAE+62%
25Kolkata🇮🇳 India+60%
26San Diego🇺🇸 USA+58%
27Netanya🇮🇱 Israel+56%
28Las Vegas🇺🇸 USA+55%
29Marrakech🇲🇦 Morocco+55%
30Warsaw🇵🇱 Poland+54%
31Dublin🇮🇪 Ireland+52%
32Tel Aviv🇮🇱 Israel+51%
33Boston🇺🇸 USA+50%
34Monaco🇲🇨 Monaco+50%
35Calgary🇨🇦 Canada+48%
36Vancouver🇨🇦 Canada+44%
37Auckland🇳🇿 New Zealand+43%
38Melbourne🇦🇺 Australia+42%
39New York City🇺🇸 USA+40%
40Singapore🇸🇬 Singapore+40%
41Geneva🇨🇭 Switzerland+40%
42Brisbane🇦🇺 Australia+37%
43Jerusalem🇮🇱 Israel+37%
44Los Angeles🇺🇸 USA+35%
45Sydney🇦🇺 Australia+35%
46Zurich🇨🇭 Switzerland+35%
47Mombasa🇰🇪 Kenya+35%
48Tangier🇲🇦 Morocco+33%
49Perth🇦🇺 Australia+32%
50Budapest🇭🇺 Hungary+32%
51Seoul🇰🇷 South Korea+30%
52Nairobi🇰🇪 Kenya+30%
53Toronto🇨🇦 Canada+29%
54Casablanca🇲🇦 Morocco+28%
55Lisbon🇵🇹 Portugal+25%
56Whale Coast🇿🇦 South Africa+25%
57Swakopmund🇳🇦 Namibia+25%
58Chicago🇺🇸 USA+24%
59Accra🇬🇭 Ghana+24%
60Addis Ababa🇪🇹 Ethiopia+23%
61Garden Route🇿🇦 South Africa+22%
62Lusaka🇿🇲 Zambia+22%
63Walvis Bay🇳🇦 Namibia+22%
64Montreal🇨🇦 Canada+21%
65Frankfurt🇩🇪 Germany+20%
66Dar Es Salaam🇹🇿 Tanzania+20%
67Cape Winelands🇿🇦 South Africa+18%
68Maputo🇲🇿 Mozambique+18%
69Windhoek🇳🇦 Namibia+16%
70Cape Town🇿🇦 South Africa+10%
71Riyadh🇸🇦 Saudi Arabia+9%
72Florence🇮🇹 Italy+8%
73Nice🇫🇷 France+7%
74Kyoto🇯🇵 Japan+5%
75Manchester🇬🇧 UK+5%
76Osaka🇯🇵 Japan-2%
77Paris🇫🇷 France-3%
78Athens🇬🇷 Greece-3%
79Tokyo🇯🇵 Japan-5%
80Doha🇶🇦 Qatar-6%
81Durban🇿🇦 South Africa-6%
82Rome🇮🇹 Italy-7%
83Barcelona🇪🇸 Spain-7%
84Madrid🇪🇸 Spain-9%
85Milan🇮🇹 Italy-10%
86Edinburgh🇬🇧 UK-12%
87London🇬🇧 UK-15%
88Cairo🇪🇬 Egypt-25%
89Hong Kong🇭🇰 Hong Kong
(SAR China)
-27%
90Luanda🇦🇴 Angola-28%
91Lagos🇳🇬 Nigeria-30%
92Istanbul🇹🇷 Türkiye-35%
93Pretoria🇿🇦 South Africa-35%
94St. Petersburg🇷🇺 Russia-38%
95Johannesburg🇿🇦 South Africa-40%
96Moscow🇷🇺 Russia-44%

In the past decade, Hangzhou, China and Austin, Texas, more than a doubled their wealthy residents. This trend places them at the top of the rankings for millionaire population growth, which is largely dominated by cities in China and the U.S., reflecting the economic strength of these two countries.

By way of comparison, at the beginning of the 21st century, the United States and Japan had a similar count of millionaires. However, the U.S. sustained its millionaire population growth, whereas China surpassed Japan in economic size in 2010 and, subsequently, in the number of millionaires in 2014.

Other emerging economic giants in the 2010s—India and Vietnam—have also seen millionaire growth in the cities of Bengaluru (88%), Hyderabad (78%), and Ho Chi Minh City (82%).

On the other hand, Moscow and St. Petersburg lost around 40% of their millionaire residents in the same timeframe, with the sanctions against the country playing a key role deteriorating their wealth as well as causing an exodus of residents.

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