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Ranked: The World’s Wealthiest Cities, by Number of Millionaires

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Infographic showing a ranking of the world's wealthiest cities

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The Top 20 Cities for the World’s Ultra-Wealthy

How many millionaires, centimillionaires, and billionaires live in the world’s wealthiest cities?

While such metrics are not all encompassing, these measurements of private wealth do help put the financial health and economic activity of some of the world’s wealthiest cities in perspective.

This infographic uses information from the Henley Global Citizens Report, in partnership with New World Wealth, to rank the world’s wealthiest cities. It leverages a comprehensive data set that tracks the movements and spending habits of high-net-worth individuals in over 150 cities around the world.

Which cities and regions have the biggest concentrations of millionaires around the world, each with a net worth greater than $1 million (USD)?

Millionaires and Billionaires in the Wealthiest Cities

In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires.

In particular, the United States claims five of the cities in the top 10, including the very top spot with New York City.

RankCityCountryMillionairesBillionaires
#1New York🇺🇸 United States345,60059
#2Tokyo🇯🇵 Japan304,90012
#3San Francisco🇺🇸 United States276,40062
#4London🇬🇧 United Kingdom272,40038
#5Singapore🇸🇬 Singapore249,80026
#6Los Angeles🇺🇸 United States192,40034
#7Chicago🇺🇸 United States160,10028
#8Houston🇺🇸 United States132,60025
#9Beijing🇨🇳 China131,50044
#10Shanghai🇨🇳 China130,10042
#11Sydney🇦🇺 Australia129,50016
#12Hong Kong🇭🇰 China (SAR)125,10028
#13Frankfurt🇩🇪 Germany117,40014
#14Toronto🇨🇦 Canada116,10017
#15Zurich🇨🇭 Switzerland105,10012
#16Seoul🇰🇷 South Korea102,10025
#17Melbourne🇦🇺 Australia97,30012
#18Dallas🇺🇸 United States92,30018
#19Geneva🇨🇭 Switzerland90,30016
#20Paris🇫🇷 France88,60015
Top 20 Cities3,259,600543

Asia is the region with the second most millionaires with six cities in the mix. Not surprisingly, China is home to three of these cities, including Hong Kong (SAR).

Europe comes in third with five cities, though only London makes into the top 10 portion of the ranking. Finally, Oceania has two cities on the list, both located in Australia.

How Top Cities Stack Up

Let’s take a closer look at some of the top-ranking cities making the list.

#1: New York

New York is the wealthiest city in the world⁠—home to 345,600 millionaires with a total private wealth that exceeds $3 trillion.

New York is home to many Fortune 500 companies and is the financial heart of the United States, with the New York Stock Exchange and NASDAQ located in the Big Apple. Additionally, the city’s real estate market is known for being expensive, with sky-high property values and rents.

#2: Tokyo

Tokyo is the economic hub of Japan and is one of the most important cities in the world for business and finance. It is home to 304,900 resident millionaires, making it the city with the second most millionaires in the world.

Japan’s largest city is home to the Tokyo Stock Exchange, which is one of the largest stock exchanges in Asia by market capitalization. Tokyo is also a major center for banking and insurance, and is home to many multinational companies like Honda and Sony.

#3: San Francisco Bay Area

The San Francisco Bay Area boasts 276,400 millionaires. It’s known as the mecca of tech innovation, and as a result, the region has a high concentration of wealthy individuals. San Francisco also has the highest median household income in the country.

The number of millionaires has been growing steadily over the last 10 years, and if the trends of recent years hold, San Francisco could become the number one millionaire hub by 2040.

#4: London

London has been the world’s wealthiest city for years, but over the past decade there has been an outflow of millionaires.

Today, with 272,400 millionaires, the city holds a more humble position. London is known for its financial and business sectors, and it attracts a significant number of high-earning professionals who contribute to its reputation as a hub of wealth and luxury.

#5: Singapore

Singapore is home to 249,800 millionaires making it the second richest city in Asia after Tokyo.

Singapore has one of the highest densities of millionaire households in Asia, with over 5% of households having at least $1 million USD in net financial assets. This is due in part to the country’s strong economic growth and favorable business environment, which has attracted many wealthy individuals and families to the country. In addition, Singapore’s political stability, low crime rate, and high standard of living have also contributed to its appeal as a place to live and work.

Fastest Growing Cities for the Rich

The cities shown in our visualization are already well-established locations for high-net-worth individuals. Some of them have topped the rankings for decades, while some others are less well-known. But what are the fastest growing cities for the rich?

In 2022, cities with strong oil and gas industries like Riyadh, Sharjah, Dubai, Luanda, Abu Dhabi, Doha, and Lagos grew exceptionally. Cities in the UAE became millionaire magnets, attracting over 4,000 millionaires in 2022. In the U.S., a few tax-friendly states like Texas and Florida became home to American companies moving their head offices there.

Looking to the future, companies and high-net-worth individuals will inevitably move where they are treated best. Countries that want to attract wealthy individuals will have to apply tax-friendly policies along with other factors such as quality of life, safety, education, and access to amenities that ultra-wealthy residents value.

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Demographics

The Smallest Gender Wage Gaps in OECD Countries

Which OECD countries have the smallest gender wage gaps? We look at the 10 countries with gaps lower than the average.

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Chart showing the OECD countries with the 10 smallest gender pay gaps

The Smallest Gender Pay Gaps in OECD Countries

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Among the 38 member countries in the Organization for Economic Cooperation and Development (OECD), several have made significant strides in addressing income inequality between men and women.

In this graphic we’ve ranked the OECD countries with the 10 smallest gender pay gaps, using the latest data from the OECD for 2022.

The gender pay gap is calculated as the difference between median full-time earnings for men and women divided by the median full-time earnings of men.

Which Countries Have the Smallest Gender Pay Gaps?

Luxembourg’s gender pay gap is the lowest among OECD members at only 0.4%—well below the OECD average of 11.6%.

RankCountryPercentage Difference in Men's & Women's Full-time Earnings
1🇱🇺 Luxembourg0.4%
2🇧🇪 Belgium1.1%
3🇨🇷 Costa Rica1.4%
4🇨🇴 Colombia1.9%
5🇮🇪 Ireland2.0%
6🇭🇷 Croatia3.2%
7🇮🇹 Italy3.3%
8🇳🇴 Norway4.5%
9🇩🇰 Denmark5.8%
10🇵🇹 Portugal6.1%
OECD Average11.6%

Notably, eight of the top 10 countries with the smallest gender pay gaps are located in Europe, as labor equality laws designed to target gender differences have begun to pay off.

The two other countries that made the list were Costa Rica (1.4%) and Colombia (1.9%), which came in third and fourth place, respectively.

How Did Luxembourg (Nearly) Eliminate its Gender Wage Gap?

Luxembourg’s virtually-non-existent gender wage gap in 2020 can be traced back to its diligent efforts to prioritize equal pay. Since 2016, firms that have not complied with the Labor Code’s equal pay laws have been subjected to penalizing fines ranging from €251 to €25,000.

Higher female education rates also contribute to the diminishing pay gap, with Luxembourg tied for first in the educational attainment rankings of the World Economic Forum’s Global Gender Gap Index Report for 2023.

See More Graphics about Demographics and Money

While these 10 countries are well below the OECD’s average gender pay gap of 11.6%, many OECD member countries including the U.S. are significantly above the average. To see the full list of the top 10 OECD countries with the largest gender pay gaps, check out this visualization.

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