Bombay, Delhi, Hyderabad and Bangalore Figure in Top 100 Cities with Most Millionaires

· Heading the list, New York City boasts of an astonishing 340,000 millionaire residents, accounting for approximately 4% of the city’s total population.

· Hangzhou, China and Austin, Texas, more than a doubled their wealthy residents.

· China surpassed Japan in economic size in 2010 and, subsequently, in the number of millionaires in 2014.

· Emerging economic giants in the 2010s—India and Vietnam—have also seen millionaire growth in the cities of Bengaluru (88%), Hyderabad (78%), and Ho Chi Minh City (82%).

Richie Rich’s town of residence Harveyville may not exist, but the world’s real-life millionaires are congregating in hotspots around the globe.

From the World’s Wealthiest Cities Report 2023 by Henley & Partners, we map out the top 20 metro areas around the world where the most millionaires live.

Which City Has the Most Millionaires?

Heading the list, New York City boasts of an astonishing 340,000 millionaire residents, accounting for approximately 4% of the city’s total population. New York’s status as a global financial hub attracts millions seeking high-paying jobs, while those with lucrative careers are naturally drawn to the city.

Here’s the full ranking of cities with the most millionaires.

Rank		City/Area	Country	HNWIs ($1M+)
1		New York City	USA	340,000
2		Tokyo	Japan	290,300
3		The Bay Area	USA	285,000
4		London	UK	258,000
5		Singapore	Singapore	240,100
6		Los Angeles	USA	205,400
7		Hong Kong	Hong Kong SAR	129,500
8		Beijing	China	128,200
9		Shanghai	China	127,200
10		Sydney	Australia	126,900
11		Chicago	USA	124,000
12		Toronto	Canada	105,200
13		Frankfurt	Germany	102,200
14		Zurich	Switzerland	99,300
15		Houston	USA	98,500
16	Seoul		South Korea	97,000
17	Melbourne		Australia	96,000
18	Paris		France	93,000
19	Geneva		Switzerland	85,800
20	Dubai		UAE	68,400
21	Mumbai		India	59,400
22	Rome		Italy	56,500
23	Seattle		USA	50,500
24	Shenzhen		China	45,700
25	Osaka		Japan	44,900
26	Boston		USA	41,700
27	Kyoto		Japan	40,400
28	Miami		USA	38,000
29	Vancouver		Canada	37,300
30	Tel Aviv		Israel	35,600
31	Moscow		Russia	35,200
32	Perth		Australia	33,900
33	Brisbane		Australia	31,900
34	Austin		USA	30,500
35	Hangzhou		China	30,400
36	Delhi		India	30,200
37	Madrid		Spain	29,000
38	Auckland		New Zealand	24,500
39	Abu Dhabi		UAE	24,200
40	Manchester		UK	24,200
41	Nice		France	23,900
42	Guangzhou		China	23,500
43	Athens		Greece	23,100
44	Doha		Qatar	21,500
45	Lisbon		Portugal	20,800
46	Dublin		Ireland	18,400
47	Riyadh		Saudi Arabia	18,100
48	Montreal		Canada	17,900
49	Monaco		Monaco	17,600
50	Las Vegas		USA	16,800
51	Istanbul		Türkiye	16,300
52	Warsaw		Poland	15,100
53	Jerusalem		Israel	15,100
54	San Diego		USA	14,700
55	Calgary		Canada	14,700
56	Johannesburg		South Africa	14,600
57	Scottsdale		USA	13,900
58	Barcelona		Spain	13,300
59	Milan		Italy	12,600
60	Bengaluru		India	12,600
61	Edinburgh		UK	12,400
62	Santa Barbara & Montecito		USA	12,300
63	Kolkata		India	12,100
64	Greenwich & Darien		USA	11,900
65	Hyderabad		India	11,100
66	West Palm Beach		USA	9,400
67	Ho Chi Minh City		Vietnam	7,700
68	Florence		Italy	7,500
69	Cairo		Egypt	7,400
70	Cape Town		South Africa	7,200
71	St. Petersburg		Russia	6,900
72	Lagos		Nigeria	5,400
73	Budapest		Hungary	5,300
74	Nairobi		Kenya	4,700
75	Netanya		Israel	4,300
76	Herzliya		Israel	3,900
77	Sharjah		UAE	3,800
78	Durban		South Africa	3,600
79	Cape Winelands		South Africa	3,400
80	Garden Route		South Africa	3,000
81	Casablanca		Morocco	2,800
82	Pretoria		South Africa	2,400
83	Accra		Ghana	2,000
84	Luanda		Angola	1,800
85	Dar Es Salaam		Tanzania	1,400
86	Whale Coast		South Africa	1,100
87	Windhoek		Namibia	1,100
88	Marrakech		Morocco	900
89	Addis Ababa		Ethiopia	800
90	Kigali		Rwanda	800
91	Maputo		Mozambique	800
92	Mombasa		Kenya	700
93	Tangier		Morocco	700
94	Lusaka		Zambia	600
95	Swakopmund		Namibia	300
96	Walvis Bay		Namibia	300

In the second spot, Tokyo is home to a substantial millionaire population of 290,000, closely followed by the Bay Area—San Francisco and Silicon Valley—with 285,000 high net worth individuals (HNWIs) possessing an investable wealth of $1 million or more.

Other major financial centers—London (4th), Singapore (5th), Hong Kong (7th)—take up the middle spots in the top 10, joined by China’s commerce juggernauts, Beijing (8th) and Shanghai (9th).

One notable entry to the list is Sydney, which surprisingly holds the 10th position, with more than 100,000 millionaires. Alongside Melbourne (17th), Australia has increasingly become a destination for millionaire migrations. This trend is driven by factors such as high livability ratings, access to Asian markets, and no inheritance tax in the country.

Where Have Millionaire Populations Boomed?

The world has gotten significantly richer in the last decade, both at a per capita level, as well as by the rising number of millionaires. Between 2010–2020 for example, the number of millionaires increased by nearly 65%.

Here’s a look at the cities which have seen the biggest change in their millionaire population between 2012–2022.

Rank	City/Area	Country	HNWI growth % (2012 to 2022)
1	Hangzhou	China	+105%
2	Austin	USA	+102%
3	Shenzhen	China	+98%
4	West Palm Beach	USA	+90%
5	Scottsdale	USA	+88%
6	Bengaluru	India	+88%
7	Guangzhou	China	+86%
8	Sharjah	UAE	+84%
9	Ho Chi Minh City	Vietnam	+82%
10	Hyderabad	India	+78%
11	Miami	USA	+75%
12	Shanghai	China	+72%
13	Greenwich & Darien	USA	+72%
14	Kigali	Rwanda	+72%
15	Beijing	China	+70%
16	Delhi	India	+70%
17	Abu Dhabi	UAE	+70%
18	The Bay Area	USA	+68%
19	Seattle	USA	+68%
20	Houston	USA	+65%
21	Mumbai	India	+65%
22	Santa Barbara & Montecito	USA	+65%
23	Herzliya	Israel	+65%
24	Dubai	UAE	+62%
25	Kolkata	India	+60%
26	San Diego	USA	+58%
27	Netanya	Israel	+56%
28	Las Vegas	USA	+55%
29	Marrakech	Morocco	+55%
30	Warsaw	Poland	+54%
31	Dublin	Ireland	+52%
32	Tel Aviv	Israel	+51%
33	Boston	USA	+50%
34	Monaco	Monaco	+50%
35	Calgary	Canada	+48%
36	Vancouver	Canada	+44%
37	Auckland	New Zealand	+43%
38	Melbourne	Australia	+42%
39	New York City	USA	+40%
40	Singapore	Singapore	+40%
41	Geneva	Switzerland	+40%
42	Brisbane	Australia	+37%
43	Jerusalem	Israel	+37%
44	Los Angeles	USA	+35%
45	Sydney	Australia	+35%
46	Zurich	Switzerland	+35%
47	Mombasa	Kenya	+35%
48	Tangier	Morocco	+33%
49	Perth	Australia	+32%
50	Budapest	Hungary	+32%
51	Seoul	South Korea	+30%
52	Nairobi	Kenya	+30%
53	Toronto	Canada	+29%
54	Casablanca	Morocco	+28%
55	Lisbon	Portugal	+25%
56	Whale Coast	South Africa	+25%
57	Swakopmund	Namibia	+25%
58	Chicago	USA	+24%
59	Accra	Ghana	+24%
60	Addis Ababa	Ethiopia	+23%
61	Garden Route	South Africa	+22%
62	Lusaka	Zambia	+22%
63	Walvis Bay	Namibia	+22%
64	Montreal	Canada	+21%
65	Frankfurt	Germany	+20%
66	Dar Es Salaam	Tanzania	+20%
67	Cape Winelands	South Africa	+18%
68	Maputo	Mozambique	+18%
69	Windhoek	Namibia	+16%
70	Cape Town	South Africa	+10%
71	Riyadh	Saudi Arabia	+9%
72	Florence	Italy	+8%
73	Nice	France	+7%
74	Kyoto	Japan	+5%
75	Manchester	UK	+5%
76	Osaka	Japan	-2%
77	Paris	France	-3%
78	Athens	Greece	-3%
79	Tokyo	Japan	-5%
80	Doha	Qatar	-6%
81	Durban	South Africa	-6%
82	Rome	Italy	-7%
83	Barcelona	Spain	-7%
84	Madrid	Spain	-9%
85	Milan	Italy	-10%
86	Edinburgh	UK	-12%
87	London	UK	-15%
88	Cairo	Egypt	-25%
89	Hong Kong	Hong Kong (SAR China)	-27%
90	Luanda	Angola	-28%
91	Lagos	Nigeria	-30%
92	Istanbul	Türkiye	-35%
93	Pretoria	South Africa	-35%
94	St. Petersburg	Russia	-38%
95	Johannesburg	South Africa	-40%
96	Moscow	Russia	-44%

In the past decade, Hangzhou, China and Austin, Texas, more than a doubled their wealthy residents. This trend places them at the top of the rankings for millionaire population growth, which is largely dominated by cities in China and the U.S., reflecting the economic strength of these two countries.

By way of comparison, at the beginning of the 21st century, the United States and Japan had a similar count of millionaires. However, the U.S. sustained its millionaire population growth, whereas China surpassed Japan in economic size in 2010 and, subsequently, in the number of millionaires in 2014.

Other emerging economic giants in the 2010s—India and Vietnam—have also seen millionaire growth in the cities of Bengaluru (88%), Hyderabad (78%), and Ho Chi Minh City (82%).

On the other hand, Moscow and St. Petersburg lost around 40% of their millionaire residents in the same timeframe, with the sanctions against the country playing a key role deteriorating their wealth as well as causing an exodus of residents.