There are many factors that can decide which city is rich and which is poor. The well-known publication Henley and Partners takes the number of millionaires in the city as the parameter for calculating the wealthiest city. Based this, New York ranks as the richest city with the number of millionaires residing here as high as 3,40,000. Tokyo, San Francisco Bay area and London ranks second, third and fourth respectively as the wealthiest cities in the world. taking the number of millionaire residents as parameter, this article presents the list of top 15 richest cities in the world 2023.
Top 15 Richest Cities in the World 2023
The table provides the list of the top 15 richest cities in the world along with the countries they are located in.
|1||New York||United States|
|4||San Francisco Bay area||United States|
|6||Los Angeles||United States|
World’s 15 Richest cities in 2023
Here is the list of the world’s richest cities in 2023:
1. New York
With 136 billionaires and 340,000 millionaires, New York stands as the richest city in the world in 2023. Total private wealth held by the city’s residents exceeds USD 3 trillion and it is also home to the world’s two largest stock exchanges by market cap. It is the most important city of the most powerful country in the world, the USA. The city also features some of the most exclusive residential streets of the world.
After Tokyo, Singapore is the second city-state from Asia to be featured in the list of top 15 richest cities in the world 2023 and ranks at fifth. Considered as one of the top destinations for migrating millionaires, the city encompasses 298,650 millionaires and 27 billionaires. Singapore is also regarded as the world’s most business-friendly city.
The capital of Japan ranks among the world’s richest cities with 290,300 millionaires and 14 billionaires calling the city their home. The city has a GDP of around 1.6 trillion dollars despite it being a fairly small city in a very small country. There are a fewer billionaires as compared to millionaires in Tokyo due to even wealth distribution.
4. San Francisco Bay area
San Francisco Bay Area, simply known as the Bay Area, comprise of San Francisco city and Silicon Valley and is a home to 285,000 millionaires and 63 billionaires. Being a global center for high technology and innovation, Silicon Valley attracts tech billionaires and the number of millionaires residing in the area is increasing too.
You may also check Richest Countries in the world
London is the richest city in UK and fourth richest in the world being the home to 258,000 millionaires and 36 billionaires. Not only the richest but London is also one of the most expensive places to live in the world. Many celebrities and members of the Royal family also reside in London itself.
6. Los Angeles
Also known as the world’s entertainment hub, Los Angeles is one of the largest and most populous city of United Sates. Hollywood is one of the major attractions of this city followed by Central Los Angeles skyline, Griffith Observatory, City Hall, Venice Beach, Echo Park and much more. Additionally, LA is also home to 205,400 millionaires and 42 billionaires.
Chicago is a city with a highly diversified economy that is strong in many key sectors and it is also the base city for 35 Fortune 500 companies. It is why Chicago has been one of the favorite places for millionaires and billionaires to reside. Currently, there are 124,000 millionaires and 24 billionaires in Chicago, making it one of the richest cities. Also check Richest People in the wold
Over the past 20 years, Houston has become one of the world’s fastest growing cities in terms of wealth growth. The city of Houston has 132,600 millionaires and 11 billionaires and it is one of the richest cities in the world 2023. A convergence of economic factors fueled rapid growth making Houston a global city.
Beijing is the capital city of China that houses the head offices of most of China’s largest companies. With 128,200 millionaires and 43 billionaires, the city ranks at ninth place among the world’s richest country in 2023 and is only the third Asian city to do so. When it comes to number of billionaires, only New York City and the San Francisco Bay area top Beijing.
Shanghai is another city from China to be included in the list of top 15 richest cities in the world 2023. With 127,200 millionaires and 40 billionaires, Shanghai ranks at tenth place in this list. Also known as the financial center of China, the city is home to Shanghai Stock Exchange, the third largest in the world by market cap.
The first city from Australia to enter the list of richest cities is Sydney. There are 126,900 millionaires and 15 billionaires residing in this small but peaceful city. Sydney has an advanced market economy with strengths in finance, manufacturing and tourism and ranks among top cities in the world for economic opportunity.
12. Hong Kong
Officially known as Hong Kong Special Administrative Region of the People’s Republic of China, the city of Hong Kong was once the second richest city in Asia. With 129,500 millionaires and 32 billionaires, the city is now fifth in Asia and 12th overall. However, many of wealthiest businessman from Asia still like to base themselves in Hong Kong.
Frankfurt is the second country from the European Union region to make its place among the richest cities of the world. The city is also one of the world’s top financial centers and is the home of 102,200 millionaires and 14 billionaires. Despite having a lower GDP, Frankfurt ranks ahead of major German cities when it comes to millionaire populations. See Richest Families in the world
Toronto is the only city from Canada that ranks among the 15 richest cities in 2023 and stands at position 14. Many major companies are based in the city and it also has a very fast-growing tech sector, making it one of the favorite spots for the riches. Toronto has 105,200 millionaires and 18 billionaires.
Zurich is a small but important city in Switzerland that is also called as the world’s private banking hub. It is so because many private banks that have serviced some of the world’s wealthiest families for generations are located here in this city. Currently there are 105,100 millionaires and 12 billionaires residing in the city making it one of the richest cities. Zurich is also one of the most famous tourist destinations in the world.
The United States of America