In the dynamic landscape of global wealth in 2025, cities are not just hubs of commerce and culture—they are magnets for high-net-worth individuals (HNWIs) seeking opportunity, security, and lifestyle excellence. According to the Henley & Partners World’s Wealthiest Cities Report 2025, released in April of this year, the number of millionaires (those with USD 1 million or more in liquid investable wealth) has surged to over 60 million worldwide, a 38% increase from 2014. This growth reflects resilient economies, tech booms, and migration patterns favoring investment-friendly locales. The United States leads with 11 cities in the top 50, but Asia’s rise—led by Tokyo and Singapore—signals a shifting geography of affluence. This article explores the top 10 wealthiest cities as of October 11, 2025, based on updated 2025 data from Henley & Partners and New World Wealth, highlighting millionaire counts, centi-millionaires (USD 100 million+), billionaires, and the factors fueling their prosperity. With global wealth migration accelerating, these urban powerhouses offer insights into where the elite are investing their fortunes this year.
The 2025 report underscores a key trend: cities blending “investment freedom with lifestyle dividends” are attracting mobile capital. Amid economic recovery from recent global challenges, millionaire growth averaged 5-10% in top hubs, driven by AI, fintech, and real estate. However, declines in places like London highlight vulnerabilities to taxes and geopolitics. As of mid-2025, these cities collectively host over 2.5 million millionaires, contributing trillions to global GDP through finance, tech, and luxury sectors.
1. New York City, USA: The Eternal Financial Capital (384,500 Millionaires)
New York retains its crown as the world’s wealthiest city in 2025, boasting 384,500 millionaires, including 818 centi-millionaires and 66 billionaires. The Big Apple’s allure stems from Wall Street’s unmatched influence, with the NYSE handling $25 trillion in daily trades. In 2025, a 10% millionaire influx—up from 349,500 in 2024—reflects post-pandemic real estate rebounds and fintech startups in Manhattan and Brooklyn. Iconic spots like Hudson Yards symbolize luxury living, while diverse industries from media to fashion sustain wealth creation. Despite high costs, New York’s 98% decade-long growth cements its status as the ultimate millionaire magnet.
2. Bay Area (San Francisco/Silicon Valley), USA: Tech Titans’ Paradise (342,400 Millionaires)
Surpassing expectations, the Bay Area claims second with 342,400 millionaires, 756 centi-millionaires, and a staggering 82 billionaires in 2025—more than New York. Home to Apple, Google, and Meta, Silicon Valley’s innovation ecosystem drove a 98% millionaire surge over the past decade. In 2025, AI and biotech booms added 30,000 new HNWIs, with hotspots like Palo Alto and Atherton offering median home prices exceeding $3 million. Sustainability initiatives, including green tech investments, align with the eco-conscious elite. The area’s venture capital flow—$100 billion in 2025—ensures it remains a wealth incubator.
3. Tokyo, Japan: Resilient Eastern Powerhouse (292,300 Millionaires)
Tokyo solidified third place in 2025 with 292,300 millionaires, up from 298,300 in 2024, buoyed by the Nikkei 225’s 20% rally. As Asia’s largest economy, the city hosts giants like Sony and Toyota, with Shibuya and Ginza as luxury enclaves. The 3% growth this year stems from yen stabilization and inbound tourism recovery, attracting 50,000 new residents. Tokyo’s blend of high-speed rail efficiency and cultural heritage—think Michelin-starred sushi—appeals to global investors, though aging demographics pose long-term challenges.
4. Singapore: The Asian Wealth Safe Haven (242,400 Millionaires)
Singapore’s 242,400 millionaires mark a 5% increase in 2025, positioning it as Asia’s premier financial center. With low taxes and robust residency programs, the Lion City drew 12,000 HNWIs from Hong Kong amid regional tensions. Marina Bay Sands exemplifies opulence, while fintech hubs like Block71 foster startups. In 2025, green bonds and sustainable finance initiatives added $50 billion in investments, underscoring Singapore’s role as a gateway to Southeast Asia’s growing millionaire class.
5. London, UK: Historic Hub Facing Headwinds (227,000 Millionaires)
London holds fifth with 227,000 millionaires in 2025, but it’s the only top-10 city with a -12% decade decline, down from higher 2024 figures. The City of London’s banking prowess persists, with Canary Wharf hosting global firms, yet Brexit and taxes prompted outflows. Knightsbridge’s luxury retail and cultural icons like the Tate Modern retain appeal, but 2025 saw a 2% dip as millionaires eye Dubai. Reforms in investment visas could reverse this trend.
6. Los Angeles, USA: Hollywood and Hollywood Hills (212,100 Millionaires)
LA climbed to sixth in 2025 with 212,100 millionaires, 516 centi-millionaires, and 45 billionaires, overtaking London with 35% decade growth. Entertainment, tech (Silicon Beach), and real estate drive wealth, with Beverly Hills homes averaging $4 million. In 2025, streaming deals and EV startups added 15,000 HNWIs. The city’s sunny vibe and influencer economy make it a lifestyle draw for the creative elite.
7. Paris, France: Elegance Meets Enterprise (165,000 Millionaires)
Paris maintains seventh with 165,000 millionaires in 2025, fueled by luxury brands like LVMH and post-Olympics infrastructure. The 3% growth reflects tourism rebound and tech parks in La Défense. Champs-Élysées shopping and Seine-side living attract Europeans, though high inheritance taxes temper inflows. Paris’s 2025 cultural renaissance positions it as a refined wealth destination.
8. Sydney, Australia: Oceanic Opportunity (147,000 Millionaires)
Sydney’s 147,000 millionaires represent a 6% rise in 2025, driven by mining exports and property booms. Harbor views from Vaucluse epitomize luxury, with APAC trade ties boosting finance. Green energy investments added 8,000 HNWIs this year, making Sydney a stable haven amid global volatility.
9. Hong Kong, China: Dynamic Financial Gateway (143,400 Millionaires)
Hong Kong’s 143,400 millionaires saw modest 2% growth in 2025, navigating geopolitical shifts. As a bridge to mainland China, Victoria Harbour’s skyline hosts trillion-dollar trades. Despite outflows, fintech and family offices sustain vibrancy, with 2025’s stable peg drawing Asian investors.
10. Beijing, China: Northern Power Surge (125,600 Millionaires)
Rounding out the top 10, Beijing’s 125,600 millionaires mark 4% growth in 2025, powered by state-backed tech like ByteDance. The Forbidden City contrasts with Zhongguancun’s innovation district, attracting domestic wealth. Belt and Road initiatives enhanced global ties, positioning Beijing as China’s political-economic core.
Trends Shaping Wealth Migration in 2025
The 2025 report highlights Shenzhen’s 142% decade growth as the fastest riser, entering the top 30 with 50,800 millionaires. US dominance persists with 5.5 million total millionaires, but APAC cities like Hangzhou (108% growth) signal Eastern ascent. Centi-millionaire hotspots, over 100 tracked, emphasize emerging markets. Challenges include inequality and sustainability, with cities investing in green infrastructure to retain talent.
Economic and Social Implications
These cities drive 20% of global GDP in 2025, per World Bank estimates, through finance and innovation. Yet, wealth concentration exacerbates housing crises—New York’s median price hit $1.2 million. Philanthropy rises, with billionaires pledging $500 billion via initiatives like Giving Pledge.
Conclusion: The Future of Urban Affluence in 2025
As of October 11, 2025, New York’s 384,500 millionaires lead a top 10 blending tradition and tech, from Tokyo’s resilience to Beijing’s ambition. With projections of 86 million global millionaires by 2035, these cities will evolve, prioritizing inclusivity and sustainability. Which metropolis calls to you? Explore Henley’s interactive map for more
