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The global wealth landscape continues to evolve in 2025, with major financial hubs maintaining their grip while fast-growing urban centers make their presence felt.
The newly released Henley World's Wealthiest Cities Report offers a deep dive into where high-net-worth individuals (HNWIs) are living and why. Despite a volatile year in global markets, these elite cities remain magnets for millionaires and billionaires, especially in the United States.
U.S. cities dominate the 2025 Global Wealth rankings
The report draws on data from New World Wealth, tracking over 150,000 affluent individuals with particular attention to entrepreneurs and executives in top-tier companies.
It considers not just the number of resident millionaires, but also the concentration of ultra-wealthy individuals and trends in wealth migration.
In 2025, the U.S. leads the pack globally, with 11 cities featured in the top 50 wealthiest in the world, four of which rank in the top 10.
At the top of the global list is New York City, home to 384,500 millionaires, making it the undisputed financial capital of the world.
Its wealth ecosystem is driven by a powerful mix of finance, luxury real estate, and cultural cachet.
With an impressive 45% growth in millionaires over the past decade, New York continues to cement its legacy as a global powerhouse.
Hot on its heels is the Bay Area, which includes San Francisco and Silicon Valley.
With a staggering 98% growth in millionaires over ten years, the Bay Area is riding a tech-driven wave of wealth creation.
The region is home to 342,400 millionaires and a leading 82 billionaires, underscoring its reputation as the epicenter of innovation and capital.
Los Angeles takes the fifth spot globally and is the third-highest-ranked U.S. city.
It leapfrogs London in 2025 thanks to strong millionaire growth (35% over the decade) and a diverse economy spanning entertainment, real estate, and tech.
With 22,600 millionaires and 45 billionaires, LA continues its steady rise.
Rounding out the top 10 is Chicago, making its debut thanks to its 127,100 millionaires and a robust centi-millionaire population.
Further down the list, other U.S. cities making the top 50 include Houston, Dallas, Seattle, Boston, Miami, Austin, and Washington, D.C., many of which are becoming increasingly attractive to wealthy individuals due to favorable tax laws, business opportunities, and lifestyle perks.
As wealth continues to concentrate in select urban hubs, U.S. cities remain central to this global financial narrative.
Whether driven by tech, finance, or favorable living conditions, these American metros are where today's millionaires and tomorrow's billionaires are choosing to build their futures.