Weekend Argus (Saturday Edition)
The world’s top 10 wealthiest cities
HENLEY & Partners, which tracks private wealth and investment migration trends worldwide, has released the Q3 Henley Global Citizens Report.
It features exclusive data from the global wealth intelligence firm New World Wealth, and reveals the world’s 20 wealthiest cities, with the most resident millionaires, the five wealthiest cities in each major region, and the 25 fastest-growing cities in the world in terms of millionaire growth in the six months to June 30, 2022.
A list of the top 10 cities.
New York
The Big Apple is the wealthiest city. It has 345 600 millionaires, including 737 centi-millionaires (with a wealth of USD 100 million or more) and 59 dollar billionaires. New York is the financial centre of the US and the wealthiest city in the world. It is home to the world’s two largest stock exchanges by market cap – the Dow Jones and NASDAQ.
Tokyo
Japan’s mega-metropolis, Tokyo, comes in second, with 304 900 resident millionaires, including 263 centi-millionaires and 12 billionaires. Major companies include Honda, Hitachi, Mitsubishi, Softbank and Sony.
San Francisco Bay
San Francisco is climbing, with the San Francisco Bay area, encompassing the city of San Francisco and Silicon Valley, home to 276 400 millionaires, including 623 centi-millionaires and 62 billionaires. Silicon Valley, home to tech billionaires, includes affluent towns such as Atherton and Los Altos Hills.
London
London has been one of the wealthiest cities in the world for many years. Today, 272 400 millionaires call London their home, a figure that includes 406 centi-millionaires and 38 billionaires. The homes and apartments that overlook London’s parks, such as Hyde Park and Regent’s Park, and green spaces, such as Hampstead Heath, are especially affluent.
Singapore
Singapore is known as a business-friendly city-state. It ranks fifth globally and is Asia’s second-biggest millionaire oasis after Tokyo.
It is home to 249 800 millionaires, including 336 centi-millionaires and 26 billionaires, and is one of the top destinations for migrating millionaires.
A net inflow of about 2 800 highnet-worth individuals is projected for 2022 alone, according to the latest Henley Private Wealth Migration Dashboard.
Los Angeles
The city of the angels and the world’s entertainment hub is home to 192 400 resident millionaires, with 393 centi-millionaires and 34 billionaires.
Figures include wealth held in the city of Los Angeles, as well as nearby Malibu, Beverly Hills, Laguna Beach, Newport Beach and Santa Monica. Key industries include entertainment, IT, retail and transport.
Chicago
is the largest inland city
Chicago
in the US and home to 160 100 millionaires, including 340 centi-millionaires and 28 billionaires. It is the base city for 35 Fortune 500 companies, including the likes of McDonald’s and Boeing.
Houston
Houston has 132 McDonald’s, 600 millionaires, 314 centi-millionaires and 25 billionaires. It is also the leading US city in a number of key sectors, including aeronautics, basic materials (oil and gas), biotech and engineering.
Beijing
China’s capital Beijing has 131 500 resident millionaires, including 363 centi-millionaires and a particularly high number of billionaires – 44. Beijing also houses the head offices of most of China’s largest companies.
Shanghai
China’s financial centre and largest city, Shanghai is home to 130 100 millionaires, with 350 centi-millionaires and 42 billionaires. The Shanghai Stock Exchange is the third largest in the world by market cap after the Dow Jones and NASDAQ.