Where the World's Billionaires Actually Live: The US Leads Global Wealth Concentration

Billionaires aren’t scattered randomly across the globe—they’re clustered in surprisingly few cities. According to Henley & Partners’ World’s Wealthiest Cities Report, a clear hierarchy emerges, with American metros dominating the top tier and Asian financial hubs rapidly gaining ground.

The US Wealth Powerhouses: America’s Grip on Global Fortune

Three of the world’s top 10 wealthiest cities are in the US, making it the undisputed wealth capital. The concentration is staggering:

New York stands alone as the global wealth epicenter:

• 349,500 millionaires reside in the city
• 744 centi-millionaires (worth $100M+)
• 60 billionaires call it home
• Millionaire population grew 48% between 2013-2023

The Bay Area, California claims the second-largest millionaire population globally:

• 305,700 millionaires
• 675 centi-millionaires
• 68 billionaires
• Most impressive growth rate among major metros: 82% millionaire expansion (2013-23)

Los Angeles rounds out America’s top three:

• 212,100 millionaires
• 496 centi-millionaires
• 43 billionaires
• 45% millionaire growth over the decade

The US clearly dominates the ultra-wealth landscape, with these three metros alone housing over 867,000 millionaires—nearly a quarter of the global total in the study.

Asia’s Emerging Wealth Centers: The New Contenders

While the US leads by volume, Asian cities show different wealth dynamics:

Tokyo remains Asia’s largest wealth hub:

• 298,300 millionaires
• 267 centi-millionaires
• 14 billionaires
• Notably, millionaire population declined 5% (2013-23)

Singapore, despite smaller total numbers, punches above its weight:

• 244,800 millionaires
• 336 centi-millionaires
• 30 billionaires
• Solid 64% millionaire growth

Beijing shows explosive wealth creation:

• 125,600 millionaires
• 347 centi-millionaires (more than Tokyo!)
• 42 billionaires
• Stunning 90% millionaire growth—the highest among all top 10 cities

Hong Kong faces headwinds:

• 143,400 millionaires
• 320 centi-millionaires
• 35 billionaires
• Millionaire count shrunk 4% over the decade

Europe’s Established Wealth: Stability Over Growth

European financial capitals show mature wealth bases but slower expansion:

London leads Europe with 227,000 millionaires but saw a 10% decline in millionaire count—reflecting post-Brexit capital flight concerns. The city still hosts 370 centi-millionaires and 35 billionaires.

Paris and Île-de-France maintain a steady 165,000 millionaires with modest 12% growth, alongside 286 centi-millionaires and 23 billionaires.

The Wealth Gap Widens: Why Geography Matters

The data reveals a striking pattern: US cities continue attracting and generating wealth at scale. New York and Bay Area’s combined 655,200 millionaires exceed many entire countries. Meanwhile, Asian metros like Beijing are experiencing explosive growth (90%), suggesting wealth is decentralizing eastward—though still trailing American concentration.

The stagnation in London (-10%) and Hong Kong (-4%) contrasts sharply with Beijing’s surge, signaling a geopolitical and economic rebalancing in global wealth distribution.

Europe and established Asia are wealth-saturated but growth-constrained, while emerging Asian centers are where new fortunes concentrate fastest.