[colabot1]
In April, Henley & Partners published its annual report on the richest cities in the world. The report’s findings are based on the rate at which the millionaire population has grown over the past 10 years in major cities around the world.
New World Wealth, a global intelligence firm, collected data from 97 cities in nine regions around the world. The report ranked cities based on the spending habits of more than 150,000 wealthy people, with a focus on those with more than $10 million in investable assets.
Importantly, Henley & Partners’ report focused primarily on high net worth individuals whose job titles include Founder, Chairman, CEO, and Director.
All data used to create the report was collected on December 31, 2022.
The 10 richest cities in the world
- New York, New York
- Tokyo, Japan
- The Bay Area, California
- London, United Kingdom
- Singapore, Singapore
- Los Angeles, California
- hong kong
- Beijing, China
- Shanghai, China
- Sydney, Australia
New York City has arrived at the no. 1 on the list. The report revealed that from 2012 to 2022, the city has seen a 40% growth in its wealthy population.
According to the Henley & Partner report, NYC is home to 340,000 people worth over $1 million, 724 centimillionaires and 58 billionaires.
The Big Apple is home to the most individual homeowners with an ultra-high net worth of over $30 million, according to a 2021 study report financial information and intelligence company WealthX and real estate platform REALM.
Tokyo, Japan is ranked the second richest city in the world, according to the 2023 report by Henley & Partners.
jackyenjoyphotography | time | Getty Images
The second richest city on the list is Tokyo, Japan.
The Japanese city has 290,300 wealthy people. Tokyo is home to 250 centi-millionaires and 14 billionaires.
The city has seen a 5% decline in the growth of its wealthy individual population from 2012 to 2022. Despite this, Tokyo has 21% of Japanese millionairess.
The California Bay Area, which includes San Francisco and Silicon Valley, rounds out the top three. The Bay Area is home to 285,000 wealthy people – there are 629 centimillionaires and 63 billionaires.
The California region has seen a 68% growth in its affluent population from 2012 to 2022.
According to a march study from Wealth-X and REALM, there’s a $30 million+ owner for 372 residents in metro San Jose and an ultra-rich owner for 505 residents just north of San Francisco.
DON’T MISS: Want to be smarter and more successful with your money, your job, and your life? Subscribe to our new newsletter!
Check: