An Australian city has made it onto Henley and Partners’ annual rundown of where the world’s millionaires gather.
Specifically, the wealth migration specialists have pinpointed the 10 cities with the most millionaires among the population.
The rankings were determined by millionaires in terms of US dollars, so a “millionaire” needs to have a fortune of $1.5 million to count.
1. New York City, US
And at the top of the pile, New York City, with 349,500 millionaires.
That’s an increase of 48 per cent since 2013.
2. The Bay Area, US
The Bay Area experienced a millionaire surge second only to Beijing in the past decade, up 82 per cent to 305,700.
3. Tokyo, Japan
Despite its millionaire head-count dropping five per cent from 2013, Tokyo is still number three with 298,300.
4. Singapore
In Singapore there are 244,800 millionaires, up 64 per cent in 10 years.
5. London, UK
London experienced the largest 10-year decline in wealth, down 10 per cent from 2013 to 2023, but still counts 227,000 millionaires as residents.
6. Los Angeles, US
The lowest-ranked US city in the top 10, the home of Hollywood has 212,100 millionaires, up 45 per cent in 10 years.
7. Paris, France
There are 165,000 millionaires in Paris, a decade-long increase of 12 per cent.
8. Sydney, Australia
Australia’s richest city by millionaire headcount, Sydney has 147,000 – up 34 per cent between 2013 and 2023.
