New York City is home to more than 345,600 millionaires and is considered the wealthiest city in the world. That’s what a new report claims. The San Francisco Bay Area, the second-richest city in the U.S., holds the third spot among the world’s wealthiest cities.
According to the report by the investment migration consultancy Henley & Partners, 59 billionaires and 737 centimillionaires, whose assets stand at $100 million or more, reside in the Big Apple.
The total private wealth held by New York City’s residents exceeds $3 trillion, which is more than the total personal wealth held in most major G-20 countries.
The San Francisco Bay Area, which also includes Silicon Valley, has around 276,400 millionaires, 623 centimillionaires, and 62 billionaires.
Los Angeles, Chicago, and Houston are three other U.S. cities in the top 10, ranking 6th, 7th, and 8th, respectively.
Los Angeles is home to 192,400 millionaires, 393 centimillionaires, and 34 billionaires, while 160,100 millionaires, 340 centimillionaires, and 28 billionaires live in Chicago. Chicago is also the home of 35 Fortune 500 companies.
Houston has 132,600 millionaires, 314 centimillionaires, and 25 billionaires. The report also says that Austin, Texas, alongside West Palm Beach and Miami, have become major hubs for high-net-worth retirees.
Here’re the top ten wealthiest cities in the world.
1. New York, U.S. (345,600)
2. Tokyo, Japan (304,900)
3. San Francisco Bay Area, U.S. (276,400)
4. London, United Kingdom (272,400)
5. Singapore, Singapore (249,800)
6. Los Angeles, U.S. (192,400)
7. Chicago, U.S. (160,100)
8. Houston, U.S. (132,600)
9. Beijing, China (131,500)
10. Shanghai, China (130,100)
