The World's Richest Cities 2025 Report

The World’s Richest Cities 2025 Report is an annual study published in collaboration between Henley & Partners and global research firm New World Wealth. The report examines wealth accumulation growth trends and investment migration patterns across the 50 cities with the highest concentration of high-net-worth individuals (HNWIs) globally. The 2025 edition was published on 8 August 2025.

New York, USA – Anadolu Agency

Scope and Methodology

The report is based on the New World Wealth database which tracks over 150,000 high-net-worth individuals. The residential and business locations of these individuals were determined using global business and lifestyle portals. The wealth assessed in the report is limited to liquid investments only — cash, equities and crypto assets — and excludes real estate. City boundaries are primarily defined using official administrative boundaries.

Overall Ranking and Top 10 Cities

As of 2025, the city with the highest number of high-net-worth individuals is New York. The city hosts a total of 384,500 millionaires 818 centi-millionaires (individuals with wealth exceeding $100 million) and 66 billionaires. In second place is the Bay Area (San Francisco and Silicon Valley) with 342,400 millionaires and 82 billionaires surpassing New York. Third is Tokyo (292,300) followed by Singapore (242,400) and Los Angeles (220,600).

London ranks sixth with 215,700 millionaires followed by Paris (160,100) Hong Kong (154,900) Sydney (152,900) and Chicago (127,100). Over the past decade London experienced a 12 percent decline in wealth while Moscow saw a 25 percent decline. Moscow is ranked 40th.

Graph generated by artificial intelligence.

Cities with the Fastest Wealth Growth

Between 2014 and 2024 the city with the highest percentage increase in millionaires was China’s Shenzhen (142 percent). This was followed by Scottsdale (125 percent) Bengaluru (120 percent) West Palm Beach (112 percent) and Hangzhou (108 percent). Other notable growth rates include Miami (94 percent) Washington DC (92 percent) Austin (90 percent) Warsaw (83 percent) Abu Dhabi (80 percent) and Riyadh (65 percent).

Future Centi-Millionaire Hubs (2025–2035)

According to the report the cities expected to see the largest increases in centi-millionaire numbers between 2025 and 2035 are:

• Dubai: 237 centi-millionaires.
• Abu Dhabi: 75 centi-millionaires.
• Delhi: 125 centi-millionaires.
• Bengaluru: 43 centi-millionaires.
• Athens: 42 centi-millionaires.
• Warsaw: 32 centi-millionaires.
• St. Julian’s and Sliema (Malta): 40 centi-millionaires.
• Lugano (Switzerland): 40 centi-millionaires.
• Riga and Jūrmala (Latvia): 11 centi-millionaires.

In addition the report forecasts over 100 percent growth in centi-millionaire numbers in George Town and Seven Mile Beach (Cayman Islands) St. George’s Parish and Hamilton Parish (Bermuda) San José and Santa Ana (Costa Rica) Monterrey (Mexico) Panama City Cape Town Marrakech and Nairobi.

The World’s Most Expensive Cities

Based on real estate prices the most expensive city is Monaco at an average of $38,800 per square meter. Other cities follow in order: New York ($27,500/m²) Hong Kong ($26,300/m²) London ($24,000/m²) and Saint-Jean-Cap-Ferrat ($21,200/m²).

In this ranking the French Riviera is the most represented region with six cities: Saint-Jean-Cap-Ferrat Nice Cannes Antibes and Èze. Switzerland and Italy also feature multiple cities on the list.

Türkiye’s Position

As of 2025 Türkiye has 40,200 millionaires 131 centi-millionaires and 16 billionaires. The country’s total liquid wealth is measured at $945 billion. The average liquid wealth per capita is $11,200. Istanbul is the wealthiest city in Türkiye with 15,000 millionaires 58 centi-millionaires and 10 billionaires.