New York Tops The Most Millionaire In The World Bengaluru Also In The List Of 50 Richest Cities Know Details – New York tops the most millionaires in the world, these Indian cities also included in the list -Newsops

This means that one in every 24 of its 8.26 million residents has a seven-digit net worth, up from one in 36 in 2013. New York still has a large share of the ultra-rich. It is reported that there are 60 billionaires and 744 people who have investable assets of more than $100 million.

The report on New York wealth comes at a time when some of the city’s richest people are worrying about a power shift in Florida as the finance industry establishes Wall Street South. Miami ranks 33rd among cities with the most millionaires, up 78% over the past 10 years.

The Bay Area came in second overall on the list, with 305,700 people with 7 figure net worth in this region, which includes San Jose, San Francisco and Palo Alto. Tokyo came in third place with 298,300, a 5% decline over the past decade. Singapore, No. 4, has become a top destination for migrating millionaires, with nearly 3,400 high net worth individuals moving here in 2023 alone.

10% decline in London’s millionaire population

However, the fortunes of some global cities have reversed. London lost 10% of its millionaire population in the last decade, which also included Britain’s decision to leave the European Union. Hong Kong saw a 4% decline in the number of millionaires as wealthy people fled to Singapore following China’s crackdown during the pandemic.

China’s Shenzhen is also included among the cities that have registered growth in this list, where the number of millionaires has increased by 140% in the last decade. In Bengaluru (India), Ho Chi Minh City (Vietnam) and Scottsdale, Arizona, USA, the population of millionaires has more than doubled in the last 10 years.

Dubai is the richest city in the Middle East, ranking 21st globally. Based on per capita wealth, Monaco ranks number 1 in the world, with over 40% of its residents being millionaires.

Growth in the world’s richest cities due to boom in financial markets

According to Juerg Stephan, CEO of Henley & Partners, the boom in financial markets over the past few years has brought growth to the world’s richest cities. Global equities are expected to rise by 20% in 2023 and are up by about 7% this year.