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Tokyo, Japan solidified its position in third place with 292,300 millionaires in residence, followed by Singapore in fourth place with 242,400 millionaires.
Henley & Partners, in collaboration with New World Wealth, has revealed the fourth edition of the World’s Wealthiest Cities annual report.
With the US continuing to dominate with 11 cities on the Top 50 cities for Millionaires list, cities across APAC are also making their way into the rankings, with Tokyo, Japan and even Singapore trailing close behind in third and fourth place respectively.
Tokyo, fuelled by a strong recovery of the Nikkei 225 over the past two years, solidified its position in third place with 292,300 millionaires in residence, followed by Singapore following suit, with 242,400 millionaires.
Here are the top 25 wealthiest cities for 2025:
| City/ Area | Country/ Region |
Millionaires (USD1mn+) | Centi-Millionaires (USD100mn+) | Billionaires (USD1bn+) | Millionaire growth % (2014 - 2024) |
| New York City | USA | 384,500 | 818 | 66 | 45% |
| The Bay Area | USA | 342,400 | 756 | 82 | 98% |
| Tokyo | Japan | 292,300 | 262 | 18 | 4% |
| Singapore | Singapore | 242,400 | 333 | 30 | 62% |
| Los Angeles | US | 220,600 | 516 | 45 | 35% |
| London | UK | 215,700 | 352 | 33 | -12% |
| Paris | France | 160,100 | 277 | 22 | 5% |
| Hong Kong | Hong Kong (SAR China) | 154,900 | 346 | 40 | 3% |
| Sydney | Australia | 152,900 | 224 | 22 | 28% |
| Chicago | USA | 127,100 | 295 | 25 | 24% |
| Milan | Italy | 115,000 | 182 | 17 | 24% |
| Beijing | China | 114,300 | 316 | 38 | 72% |
| Osaka–Kyoto–Kobe | Japan | 112,200 | 128 | 12 | 20% |
| Shanghai | China | 110,500 | 293 | 35 | 67% |
| Toronto | Canada | 108,400 | 184 | 20 | 18% |
| Melbourne | Australia | 94,000 | 108 | 12 | 36% |
| Houston | USA | 81,800 | 210 | 16 | 75% |
| Dubai | UAE | 81,200 | 237 | 20 | 102% |
| Frankfurt | Germany | 80,300 | 132 | 13 | 9% |
| Zurich (canton) | Switzerland | 77,800 | 180 | 10 | 10% |
| Dallas | USA | 72,400 | 135 | 16 | 85% |
| Geneva (canton) | Switzerland | 70,200 | 215 | 14 | 26% |
| Munich | Germany | 69,800 | 87 | 11 | 17% |
| Seoul | South Korea | 66,000 | 148 | 16 | 17% |
| Seattle | USA | 53,100 | 127 | 11 | 48% |
Here are the top wealthiest cities across the APAC region:
| City/Area | Country | Millionaires (USD1mn+) | Centi Millionaires (USD100mn+) | Billionaires (USD1bn+) | Millionaire growth % (2014 - 2024) |
| Tokyo | Japan | 292,300 | 262 | 18 | 4% |
| Singapore | Singapore | 242,400 | 333 | 30 | 62% |
| Hong Kong | Hong Kong (SAR China) | 154,900 | 346 | 40 | 3% |
| Beijing | China | 114,300 | 316 | 38 | 72% |
| Melbourne | Australia | 94,000 | 108 | 12 | 36% |
| Seoul | South Korea | 66,000 | 148 | 16 | 17% |
| Mumbai | India | 51,200 | 205 | 25 | 69% |
| Shenzhen | China | 50,800 | 156 | 22 | 142% |
| Perth | Australia | 34,600 | 66 | 9 | 32% |
| Hangzhou | China | 32,200 | 104 | 12 | 108% |
| Taipei City | Taiwan (Chinese Taipei) | 31,400 | 85 | 16 | 60% |
| Delhi | India | 31,200 | 125 | 16 | 82% |
| Brisbane | Australia | 26,400 | 39 | 4 | 22% |
| Guangzhou | China | 24,300 | 69 | 9 | 88% |
For the full list, click here.
Methodology
The World Wealthiest Cities Report 2025 is published by Henley & Partners, in partnership with New World Wealth, which is currently the only known independent wealth research firm systematically tracking global wealth migration trends between countries and cities.
Read the full methodology here.
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