Top 10 wealthiest cities in the world in 2024 (2024)
Check the list of the top 10 world's wealthiest cities in the world in 2024. (Source: Getty Images)
The World’s Top 10 Wealthiest Cities in 2024: The attraction of cosmopolitan cities for the ultra-wealthy is clear. These centres are home to big corporations and high-end real estate.
Henley & Partners, an international wealth migration specialist, in collaboration with New World Wealth, a global data intelligence firm, recently published the World’s Wealthiest Cities Report 2024, which highlights the richest cities globally for the year 2024.
The report highlights New York City, which has continued to maintain its position as the world’s wealthiest city, with 11 other US cities joining the top 50 list. In contrast, Tokyo, which held the top spot a decade ago, has fallen to third place due to a decline in its high-net-worth individual population.
Advertisem*nt
Singapore, on the other hand, has made significant strides, rising to fourth place with impressive growth in its millionaire population, solidifying its position as a leading Asian financial hub. In the Middle East, Dubai has emerged as the wealthiest city, ranking 21st in the top 50 list.
Traditional financial centres such as London have seen a decline in ranking, moving down to fifth place, while Los Angeles has climbed to sixth place with substantial growth in its wealthy population.
Notably, India has made significant progress, with two of its cities breaking into the top 50 list. Mumbai and Delhi rank 24th and 37th, respectively, indicating a growing presence of wealthy individuals in the country.
Check the list: Top 10 wealthiest cities of the world in 2024
According to Dr Juerg Steffen, the CEO of Henley & Partners, the financial market’s strong performance and technological advancements are the main reasons behind the growth of the world’s wealthiest cities. However, Steffen also warns that in today’s uncertain world, geopolitical risks such as the war in Ukraine emphasise how fragile wealth can be.
Claiming the top spot for another year running is New York City. The Big Apple has an incomprehensible total wealth of $3 trillion – $3 trillion – thanks to the 349,500 millionaires, 744 centi-millionaires and 60 billionaires who call it home.
Which cities have the largest concentration of extreme wealth? The Bay Area which includes San Francisco and Silicon Valley has the greatest concentration of millionaires with roughly 1 in 13 people in the city claiming this status. Seattle follows with 1 in every 14 residents in the millionaire club.
New York City once again is home to the most billionaires in the world: It's the primary residence of an estimated 110 billionaires who are worth a collective $694 billion. The Big Apple has long dominated the ranks, coming in at No. 1 for all but one of the past 11 years.
The report highlights New York City, which has continued to maintain its position as the world's wealthiest city, with 11 other US cities joining the top 50 list. In contrast, Tokyo, which held the top spot a decade ago, has fallen to third place due to a decline in its high-net-worth individual population.
With a GDP per capita of about $140,000, Luxembourg ranks first among the richest countries in the world. A robust financial sector and a significant and constant influx of foreign capital characterise its economy.
In the latest edition of the World's Wealthiest Cities Report by Henley & Partners and New World Wealth, New York City maintains its reign as the world's wealthiest city, boasting a staggering total wealth exceeding $3trn.
Who is the richest man in the world? As of June 1, 2024, the richest person in the world is Tesla and SpaceX CEO Elon Musk. He's worth $210 billion. He moved into the number one spot in late May 2024, overtaking Bernard Arnault of France.
Arnault's remarkable success has earned him the distinction for most of the first half of 2023, although he briefly fell to second rank in June 2023 but regained the top spot in 2024.
Dubai crowned wealthiest city in Middle East, home to 72,500 millionaires. The number of individuals in Dubai with liquid investment wealth — assets that can be readily converted to cash — of $1 million or more increased by 78% between 2013 and 2023 to 72,500, according to a report.
Introduction: My name is Tish Haag, I am a excited, delightful, curious, beautiful, agreeable, enchanting, fancy person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
Check the list of the top 10 world's wealthiest cities in the world in 2024. (Source: Getty Images)
