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Tue, May 28, 2024

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New York City

NYC, commonly referred to as the Big Apple, boasts an impressive concentration of wealth. With 340,000 millionaires, 724 centi-millionaires, and 58 billionaires, it's no wonder it's considered the financial center of the United States and the wealthiest city in the world by multiple measures. The city is also home to the NYSE and the Nasdaq, the two largest stock exchanges by market cap globally. Comprising five boroughs - the Bronx, Brooklyn, Manhattan, Queens, and Staten Island - the city boasts some of the most exclusive residential streets on the planet, such as Manhattan's 5th Avenue, where premium apartment prices can soar beyond USD 27,000 per square meter.

Tokyo

The Japanese capital of Tokyo boasts a population of 290,300 millionaires, 250 centi-millionaires, and 14 billionaires. Unlike other cities on the list of top global wealth centers, Tokyo has relatively fewer billionaires, indicating that the city's wealth is spread more evenly among its residents, with the middle and lower-tier millionaires controlling a significant portion of the city's capital. Tokyo is home to several well-known multinational companies, including Honda, Sony, Softbank, Mitsubishi, and Hitachi.

The Bay Area

The Bay Area, comprising the City of San Francisco and Silicon Valley, boasts a thriving economy with 285,000 millionaires, 629 centi-millionaires, and 63 billionaires, making it one of the wealthiest regions in the world. The concentration of top tech companies in this region has rightfully earned it the reputation of being the global technology hub. The region houses some of the most prominent names in the tech industry, including Adobe, Apple, Cisco, Google (Alphabet), LinkedIn, Facebook (Meta), Twitter, HP, Intel, Lyft, Netflix, OpenAI, PayPal, Uber, Yahoo, and Zoom.

London

London has long been a hub of wealth and power, boasting some of the world's most luxurious residential areas such as Belgravia, Chelsea, and Knightsbridge. While it may have slipped down the ranks of cities with the most millionaires, with 258,000 resident millionaires, 384 centi-millionaires, and 36 billionaires, it remains a formidable financial center. Its influence is felt worldwide, and its position as a hub for industries such as finance, tech, and fashion ensures its continued relevance on the global stage.

Singapore

Singapore's reputation as the most business-friendly city in the world has made it a top destination for migrating millionaires. The latest Henley Wealth Migration Dashboard reveals that around 2,800 individuals with high net worth relocated to that place in 2022.The city-state is home to 240,100 millionaires, 329 centi-millionaires, and 27 billionaires.

Los Angeles

Los Angeles is known as the entertainment capital of the world, and it's no surprise that it's home to 205,400 millionaires, 480 centi-millionaires, and 42 billionaires. These figures include the wealth held in the City of Los Angeles, as well as its affluent neighboring areas, such as Beverly Hills and Malibu. Apart from the entertainment industry, LA's major industries include media, real estate, retail, technology, and transportation.

Hong Kong

Hong Kong, with its strategic location and business-friendly environment, has been a prime destination for high-net-worth individuals and top companies. The city boasts 129,500 millionaires, 290 centi-millionaires, and 32 billionaires, making it one of the wealthiest cities in the world. Despite facing challenges over the past decade, Hong Kong remains a leading global financial hub, with its stock market ranking among the most important worldwide. With its high concentration of wealth and influential position in the global economy, Hong Kong continues to be a key player on the world stage.

Beijing

Home to 128,200 millionaires, 354 centi-millionaires, and 43 billionaires, Beijing is the capital city of China and a hub for some of the world's biggest corporations.Its abundance of billionaires is quite remarkable, ranking third globally behind only New York City and the Bay Area.

Shanghai

Shanghai, the financial hub of China, is a city of great wealth and ambition. Its population boasts of 127,200 millionaires, 332 centi-millionaires, and 40 billionaires, making it a hotspot for entrepreneurs and investors alike. The Shanghai Stock Exchange ranks third in the world by market capitalization, behind only the NYSE and the Nasdaq, making it a crucial player in the global financial market.

Sydney

Sydney is a thriving metropolis and a popular destination for moving millionaires. The city is home to 126,900 millionaires, including 184 centimillionaires and 15 billionaires. Sydney is renowned for its exclusive residential suburbs that attract discerning homeowners. Some of the most desirable suburbs in the world include Bellevue Hill, Darling Point, Mosman, Point Piper, and Vaucluse, each offering a unique blend of stunning architecture, pristine beaches, and verdant green spaces.Over the past two decades, Sydney has experienced a boom in affluence, becoming one of the wealthiest cities in the Asia-Pacific region. Experts predict this growth will continue, and by 2040, Sydney will be one of the world's top five richest cities.

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