From New York to Tokyo, these are the world's wealthiest cities

From New York to Tokyo, these are the world's wealthiest cities

The report by investment migration firm Henley & Partners analysed high-net-worth individuals (HNWIs) with an investable wealth of over $1 million.

FPJ Web DeskUpdated: Wednesday, April 19, 2023, 01:03 PM IST
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New York City has emerged as the world's wealthiest city with 58 billionaires, followed by Tokyo and the Bay Area at the second and third spots, respectively, according to a report by investment migration firm Henley & Partners.

The report analysed high-net-worth individuals (HNWIs) with an investable wealth of over $1 million.

Four US cities are in the top 10: New York City, The Bay Area, Los Angeles and Chicago.

Beijing and Shanghai, the two Chinese cities, were listed as well, while London featured in the list in fourth place. New York held its top spot as the number of high-net-worth individuals in the city surged 40 percent in 2012-2022.

Singapore ranked fifth with 2,40,100 HNWIs while Sydney ranks 10th with 1,26,900 HNWIs. From India, Mumbai was part of the list with 59,400 HNWIs followed by Delhi with 16 billionaires, Bengaluru with 8 billionaires, Hyderabad with 5 billionaires and Kolkata with 7 billionaires.

Regarding billionaires, California’s Bay Area won, as 63 call the region surrounding Silicon Valley and San Francisco home. It was followed by New York, Beijing, Los Angeles and Shanghai.

Chinese city of Hangzhou saw a 105 percent rise in 10 years while Austin in US' Texas came in second with a 102 percent increase. Miami and West Palm Beach saw the number of high net worth individuals climb 75 percent and 90 percent respectively.

In Moscow, amid Russia's invasion of Ukraine, the number of millionaires plunged 44 percent from a decade earlier, while St. Petersburg saw a 38 percent slump.

Indian cities that made it to the list

The Indian cities that made it to the list were Mumbai with 59,400 HNWIs and 29 billionaries, followed by Delhi with 16 billionaires, Bengaluru with 8 billionaires, Hyderabad with 5 billionaires and Kolkata with 7 billionaries.

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