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May 08, 2024 12:58 PM IST
Singapore is fourth with 3,400 high net-worth individuals moving in the city in 2023 alone.
A global ranking of the wealthiest cities by immigration consultancy Henley & Partners revealed that New York has almost 350,000 millionaires- most of any city and up 48% from ten years ago. This means that almost one in every 24 of New York's 8.26 million residents has a seven-figure net worth. New York has a large share of the ultra-rich as well- 60 billionaires- and 744 with investable wealth of more than $100 million, the report showed.
New York has a large share of the ultra-rich as well- 60 billionaires- and 744 with investable wealth of more than $100 million, the report showed. Read more: OpenAI's ChatGPT could soon search internet and cite sources in its results: What we know
Miami ranked 33rd among the cities with the most millionaires. This is up 78% over the past 10 years as per the report while Bay Area came in second overall with 305,700 with a seven-figure net worth living in San Jose, San Francisco and Palo Alto.
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Tokyo is third on the list with 298,300- down 5% over the past decade while Singapore is fourth with 3,400 high net-worth individuals moving in the city in 2023 alone.
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The list also showed that London lost 10% of its millionaire population in the past decade and Hong Kong saw a 4% decline in its millionaires. China's Shenzhen witnessed a surge in the number of millionaires- 140% over the past decade.
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Other cities where millionaire population has more than doubled in the past 10 years are- Bengaluru, Vietnam's Ho Chi Minh City and Scottsdale, Arizona in the US. In the Middle East, Dubai is the richest city- ranking No. 21 globally. As per wealth per capita, Monaco ranks No. 1 in the world, with more than 40% of its residents being millionaires. New York City is second.
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