Where the rich roam: unveiling the top cities for high-net-worth individuals

In a world increasingly defined by wealth and capital mobility, understanding the epicentres of affluence is crucial.

The World’s Wealthiest Cities Report 2025, published by wealth migration specialists Henley & Partners in partnership with the data intelligence firm New World Wealth, sheds light on where the globe’s millionaires are congregating.

With 10 cities clamouring for recognition on the Top 50 Cities for Millionaires list, the United States maintains its stronghold, led by New York City, boasting the highest concentration of high-net-worth individuals (HNWIs).

Here are the world’s 10 wealthiest cities and what makes each one unique.

New York City: The unrivalled financial capital

New York City tops the list, housing an astounding 384 500 high-net-worth individuals, including 818 resident centi-millionaires and 66 billionaires.

The city’s wealth stems from a diverse economic base, primarily centred around finance, technology, media, and the arts.

As an enduring global financial hub, New York’s preeminence remains unmatched, drawing in wealth from various sectors, effectively cementing its position as the world’s wealthiest city.

Bay Area: The tech-driven wealth machine

The Bay Area, encompassing the tech-driven Silicon Valley, has seen a flourishing wealth creation rate, thanks to the concentration of technology firms.

Indeed, the region is home to the highest number of billionaires globally, making it a focal point for innovators and investors alike.

The Bay Area’s millionaire population has surged by 98% over the last decade, signifying its irresistible appeal to affluent individuals keen to capitalise on its robust economic ecosystem.

Tokyo: The corporate powerhouse

Tokyo’s economy, driven by technology, finance, and manufacturing, presents a formidable presence on the global stage.

Housing major corporations such as Sony, Honda, and Mitsubishi, its status as a corporate hub only strengthens its allure.

Furthermore, the presence of the world’s two largest stock exchanges by market capitalisation further emphasises Tokyo’s economic might.

Singapore: The strategic financial centre

Singapore, another report highlight, shrewdly blends a strategic location with a supportive business environment.

Its transparent legal framework, low tax rates, and commitment to investment in human capital have transformed this city-state into a prosperous financial centre.

These factors attract significant foreign investment, leading to elevated per capita income and a thriving economic landscape.

Los Angeles: The diverse economic landscape

The City of Angels emerges as one of the world’s wealthiest cities, driven by its diverse economy that harmoniously blends entertainment, real estate, and technology.

The city’s high-net-worth individual population resides in affluent areas such as Hollywood, Beverly Hills, and Malibu.

Notably, “Silicon Beach” has developed as an influential tech hub, augmenting the city’s wealth further.

The fusion of international trade and creative industries catalyses economic growth, appealing to global talent while providing an environment ripe for investment.

London: The global financial centre

Not to be overlooked, London secures its place as a powerhouse among the wealthiest cities, due to its stature as a global financial centre.

The capital attracts numerous high-net-worth individuals, fuelled by a robust service industry, world-class infrastructure, and a vibrant cultural scene.

London, with its many banks and investment firms, is a wealth management hotspot, while the diversity of its economy ensures resilience against sector-specific downturns.

Paris: The cultural and economic jewel

Following closely behind is Paris, a city that epitomises economic diversity through its thriving financial services, luxury goods market, and significant role in international tourism.

The high GDP per capita in the Île-de-France region underscores the concentration of wealth among its residents, drawing multinational firms and affluent visitors alike.

The allure of Paris extends beyond economic factors, with its rich cultural offerings and status as a fashion capital ensuring its continued attractiveness to high-net-worth individuals.

Hong Kong: The gateway to wealth

On the Asian continent, Hong Kong’s wealth derives from its strategic location and an exceptionally strong financial sector.

As a global financial hub and trade gateway, the city thrives with a favourable business environment, including low taxes and free trade, making it an attractive destination for investors and entrepreneurs.

Adding further to its appeal are the investment migration programs that entice wealthy individuals seeking new horizons.

Sydney: The crown jewel of Australia

Sydney, the crown jewel of Australia’s economy, showcases a thriving cityscape marked by high-quality infrastructure and a rich cultural life.

As a key financial hub in the Asia-Pacific region, it attracts significant foreign investment, especially in the booming real estate sector.

Coupled with an enviable lifestyle and a large population of high-net-worth individuals, Sydney maintains a steady rise in its wealth concentration, culminating in its recognition on the global stage.

Chicago: The resilient economic hub

Lastly, Chicago rounds out the list as a city driven by its diverse economy and strategic positioning in the United States.

Known for its formidable finance, technology, and manufacturing sectors, Chicago is home to several Fortune 500 companies.

Its alluring arts and architecture scene, combined with a high quality of life, continues to attract both wealth and talent, reinforcing its economic resilience.

As Dr Juerg Steffen, CEO of Henley & Partners, articulates, “Cities that blend investment freedom with lifestyle dividends are winning the competition for mobile capital.”

The ongoing trend sees an unrelenting pursuit of opportunities in urban centres where robust legal frameworks and welcoming investment migration programs create conducive environments for wealth accumulation.