Tech hubs and tax havens: The World’s Richest Cities in 2025
The latest World’s Wealthiest Cities Report 2025, released by Henley & Partners with data from New World Wealth, doesn’t just rank millionaire counts – it tells a bigger story about where wealth is moving, and why.
New York City still wears the crown with 384 500 millionaires, more than any other city in the world. But it’s not just old money or finance driving its dominance – it’s a blend of real estate, global investment, and corporate headquarters. The city also boasts 818 centi-millionaires and 66 billionaires, solidifying its place at the top of the global financial food chain.
But the real momentum is on the US West Coast. The Bay Area – a tech-fueled region that includes San Francisco and Silicon Valley – has surged into 2nd place with 342 400 millionaires and an impressive 82 billionaires, overtaking New York in that elite category. Its 98% millionaire growth over the past decade highlights how tech continues to concentrate extreme wealth in relatively small geographic pockets.
Tax-free Dubai surges ahead with over 80 000 millionaires
Meanwhile, cities that once felt peripheral in global finance are gaining ground fast. Dubai, for example, climbed three spots to 18th place, growing its millionaire population by 102% since 2014. With 81 200 millionaires, 237 centi-millionaires, and 20 billionaires, Dubai is becoming a magnet for wealthy individuals drawn by zero income tax, luxury real estate, and global mobility.
China’s rising tech cities are also climbing fast. Shenzhen and Hangzhou posted millionaire growth of 142% and 108% respectively, showing the impact of domestic innovation and expanding consumer markets. Though they still rank lower – 28th and 35th, respectively – they’re growing faster than any Western city in the top 50.
Tokyo and Singapore, ranked 3rd and 4th respectively, represent more traditional models of wealth: stable, safe, and steady. Tokyo, with 292 300 millionaires, has benefited from a market rebound, while Singapore continues to draw wealth with its business-friendly environment and geopolitical neutrality.
The top 10
These are the top 10 Wealthiest Cities in the World for 2025:
| Rank | City/Area | Millionaires (USD 1m+) | Centi-Millionaires (USD 100m+) | Billionaires (USD 1bn+) |
|---|---|---|---|---|
| 1 | New York City | 384 500 | 818 | 66 |
| 2 | The Bay Area | 342 400 | 756 | 82 |
| 3 | Tokyo | 292 300 | 262 | 18 |
| 4 | Singapore | 242 400 | 333 | 30 |
| 5 | Los Angeles | 220 600 | 516 | 45 |
| 6 | London | 215 700 | 352 | 33 |
| 7 | Paris | 160 100 | 277 | 22 |
| 8 | Hong Kong | 154 900 | 346 | 40 |
| 9 | Sydney | 152 900 | 224 | 22 |
| 10 | Chicago | 127 100 | 295 | 25 |
If you were a millionaire, where would you want to live?
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1.
Subscribe to The South African website’s newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
