New York retains crown as world’s wealthiest city

RICHEST CITY. A general view of the Lower Manhattan on the Staten Island ferry in New York, United States on Jan. 13, 2025. The city retained its title as the wealthiest city in the world, according to the World Wealthiest Cities Report released on Tuesday (April 8, 2025). (Pexels Photo)

By Anadolu, Philippine News Agency

ANKARA – New York retained its title as the wealthiest city on the planet, according to the 2025 World’s Wealthiest Cities Report released Tuesday by Henley & Partners in collaboration with New World Wealth.

Boasting 384,500 millionaires, 818 centi-millionaires and 66 billionaires, the Big Apple remained a magnet for global wealth, the report showed.

The report ranked cities by the number of high-net-worth individuals (HNWIs), centi-millionaires and billionaires residing in those locations.

Hot on New York’s heels is the Bay Area, which includes San Francisco and Silicon Valley, ranked second with 342,400 millionaires.

The region is now home to 82 billionaires, surpassing New York in that category.

The Bay Area’s millionaire population has grown by 98 percent in the past decade, reflecting its position as a hub for technological wealth creation.

Fueled by a strong recovery in the Nikkei 225 during the past two years, Tokyo ranked third with 292,300 millionaires, while Singapore came in fourth with 242,400.

Dubai climbed to 18th with 81,200 millionaires, marking a 102 percent increase in the past decade.

Shenzhen (28th) posted the fastest growth globally, with a 142 percent rise in its millionaire population.

London and Moscow were the only two cities among the top 50 to post a decline in their millionaire populations during the past decade, with declines of 12 percent and 25 percent, respectively.

Los Angeles, home to 220,600 millionaires (including 516 centi-millionaires and 45 billionaires), has surpassed London to secure fifth place, relegating the UK capital to sixth with 215,700 millionaires –including 352 centi-millionaires and 33 billionaires.

Moscow, now ranked 40th, has seen a 25 percent decrease in its millionaire population.

Emerging trends

Shenzhen, Hangzhou and Dubai lead the fastest-growing wealth hubs.

Bengaluru, New Delhi and Warsaw were also featured among the cities expected to see significant growth in millionaire populations, fueled by expanding tech ecosystems and strategic economic initiatives.