Look: Top 20 richest cities ranked by millionaires, Dubai moves up the charts

Notably, Dubai has also topped the wealth rankings for Arab cities, establishing itself as one of the fastest-growing cities worldwide for millionaires. From 2023 to 2024, Dubai climbed from 21st to 18th in the global rankings. Over the last decade, the city saw a rem¬¬arkable 102% increase in its millionaire population, making it the third-fastest-growing city in the world for HNWIs, trailing only Shenzhen and Hangzhou. According to the report, Dubai welcomed 8,700 new millionaires in 2024 alone, pushing the total number of HNWIs to 81,200 by the end of the year, compared to 72,500 in 2023. The number of ultra-wealthy individuals with a net worth exceeding $100 million also rose to 237 in 2024, up from 212 in the previous year, reflecting Dubai's increasing allure as a global wealth hub.

The United States continues to assert its dominance in the global wealth landscape, with 11 cities making it onto the Top 50 Cities for Millionaires list in the latest World’s Wealthiest Cities Report 2025. Leading the charge is New York, securing the top spot with an impressive 384,500 high-net-worth individuals (HNWIs). This includes 818 resident centi-millionaires—those with liquid investable wealth of $100 million or more—and 66 billionaires, further solidifying New York's position as the world’s leading hub for extreme wealth.

The Bay Area, United States: Millionaires: 342,400 Centi-millionaires: 756 Billionaires: 82 Millionaire growth: 98%

Tokyo, Japan: Millionaires: 292,300 Centi-millionaires: 262 Billionaires: 18 Millionaire growth: 4%

Singapore: Millionaires: 242,400 Centi-millionaires: 333 Billionaires: 30 Millionaire growth: 62%

Los Angeles, United States: Millionaires: 220,600 Centi-millionaires: 516 Billionaires: 45 Millionaire growth: 35%

London, United Kingdom: Millionaires: 215,700 Centi-millionaires: 352 Billionaires: 33 Millionaire growth: -12%

Paris, France: Millionaires: 160,100 Centi-millionaires: 277 Billionaires: 22 Millionaire growth: 5%

Hong Kong: Millionaires: 154,900 Centi-millionaires: 346 Billionaires: 40 Millionaire growth: 3%

Sydney, Australia: Millionaires: 152,900 Centi-millionaires: 224 Billionaires: 22 Millionaire growth: 28%

Chicago, United States: Millionaires: 127,100 Centi-millionaires: 295 Billionaires: 25 Millionaire growth: 24%

Milan, Italy: Millionaires: 115,000 Billionaires: 17

Beijing, China: Millionaires: 114,300 Billionaires: 38

Osaka–Kyoto–Kobe, Japan: Millionaires: 112,200 Billionaires: 12

Shanghai, China: Millionaires: 110,500 Billionaires: 35

Toronto, Canada: Millionaires: 108,400 Billionaires: 20

Melbourne, Australia: Millionaires: 94,000 Billionaires: 12

Houston, USA: Millionaires: 81,800 Billionaires: 16

Frankfurt, Germany: Millionaires: 80,300 Billionaires: 13

Zurich, Switzerland: Millionaires: 77,800 Billionaires: 10