The Rise of Millionaire Hubs: Tracking Global Wealth Concentration

The Rise of Millionaire Hubs: Tracking Global Wealth Concentration


The World's Richest Cities

New York is the wealthiest city globally, with 359,500 millionaires and 60 billionaires. The Bay Area of California closely follows, with its millionaire population surging 82% over the past decade.

The U.S. dominates the world's wealthiest cities, home to 11 of the top 50. The surge in tech wealth, stock market gains, and deal-making have created record wealth, especially at the top.

Other key points:

  • San Francisco and the Bay Area lead in billionaire population with 68.
  • Tokyo, once the wealthiest city, has seen its millionaire population decline 5%.
  • London has fallen to 5th place, with its millionaire population down 10% due to Brexit and other factors.
  • China's Beijing has seen a 90% increase in millionaires, but its slowing economy has caused a 4% decline in the past year.
  • Singapore has benefited from wealth flight from China, climbing to 4th place with 64% millionaire growth.
  • Los Angeles has risen to 6th place, with a 45% jump in millionaires.

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