News Summary

New York City has been declared the wealthiest city globally, boasting 384,500 millionaires and 66 billionaires according to the 2025 World’s Wealthiest Cities Report. While NYC leads, the San Francisco Bay Area follows closely. Despite its wealth, concerns regarding crime and livability are rising, prompting businesses to consider relocating. Other cities like Dubai and Shenzhen are also emerging as significant wealth hubs, indicating a shifting financial landscape worldwide.

New York City Still Tops the Wealthy Charts!

In an exciting turn of events, New York City has once again claimed its crown as the world’s wealthiest city, making headlines in the 2025 World’s Wealthiest Cities Report compiled by Henley & Partners and New World Wealth. It boasts a staggering 384,500 millionaires, securing its place firmly at the top. This massive wealth pool includes 818 centi-millionaires—those shiny individuals with at least $100 million in liquid assets—and an impressive 66 billionaires. It’s a glittering display of riches, but there’s a twist: some people are starting to worry about how the city is maintaining its luster.

Rivalry in the Air

But hold on! The San Francisco Bay Area is hot on NYC’s heels, coming in second place with 342,000 millionaires and an impressive 82 billionaires, surpassing New York for sheer billionaire numbers. This area has seen an astonishing 98% increase in millionaires over the last decade, making it a formidable competitor. Other cities like Dubai, Shenzhen, and Hangzhou are also making waves, with Shenzhen experiencing an eye-popping 142% growth. The wealth game is on!

Following the Money

Meanwhile, Los Angeles has climbed up the ranks to bag fifth place with 220,600 millionaires, pulling ahead of London, which is now sitting in sixth with 215,700 millionaires. Chicago rounds out the top ten with 127,100 millionaires. It’s worth noting that the U.S. has a strong presence with 11 cities featuring in the top 50 millionaire populations worldwide. This reveals just how significant the American wealth scene really is.

Emerging Wealth Corridors

Don’t overlook the fast-growing wealth hubs! Places like Scottsdale and West Palm Beach are witnessing phenomenal growth, with millionaire populations soaring by 125% and 112% respectively. Miami is also joining the ranks with a 94% growth in millionaires. Both Washington D.C. and Austin, not far behind, are experiencing approximately 90% increases. These hotspots showcase the shifting dynamics of wealth in America.

Concerns in the Concrete Jungle

However, it isn’t all rainbows and butterflies for New York City. Increasing reports of worsening crime, cleanliness, and educational issues have raised the alarm bells about the city’s livability. It’s sparking fears that businesses might start to leave this iconic metropolis. High-profile voices in the finance world have warned that companies could exit the city due to its declining appeal. Since 2019, around 160 Wall Street firms managing approximately $1 trillion have decided to relocate away from NYC, pointing to a potential trend.

Retail Shake-Up

40% of drugstores in NYC closing over the past decade. Not to mention, popular brands like Foot Locker are packing up and heading to more business-friendly states. This certainly poses questions about the city’s viability as a commercial hub.

The Global Picture

Looking beyond the U.S., Tokyo sits third with 292,300 millionaires, followed closely by Singapore at 242,400. It’s interesting to note that some cities like London and Moscow are not faring as well, with declines of 12% and 25%, respectively, in their millionaire populations.

Real Estate: A Sky-High Issue

Real estate remains a hot topic, especially in New York City, where the average price of prime real estate clocks in at a jaw-dropping $27,500 per square meter. This makes it the second most expensive city globally, just after Monaco. Expect future growth projections to favor cities rolling out residence and citizenship by investment programs, as they are likely to attract even more high-net-worth individuals.

Where to Next?

It’ll be fascinating to watch how this landscape shifts in the years to come, especially with some rising stars like Bengaluru (+120%), New Delhi, and Warsaw breaking into the scene thanks to burgeoning tech ecosystems and economic initiatives.

So, as the battle for wealth continues, one thing is clear: the world of riches is ever-evolving, and we can’t wait to see what unfolds next!

New York City Remains the Richest City Worldwide