The number of millionaires in the world is growing at a tremendous rate. Each year sees incomers pop on the list of people worth one million dollars plus. For any given city, its millionaire population depends on three main factors – the size of the adult population, average wealth, and wealth inequality. Companies and high-net-worth individuals are bound to move where they are treated best.
Cities that want to attract wealthy individuals will have to apply tax-friendly policies along with other factors such as quality of life, safety, education, and access to amenities that ultra-wealthy residents value. Measuring private wealth can help put the financial health and economic activity of some of the world’s wealthiest cities in perspective.
Here are the top 20 cities with the most millionaires in the world.
| Rank | City | Millionaires |
| 1. | New York, United States | 345,600 |
| 2. | Tokyo, Japan | 304,900 |
| 3. | San Francisco, United States | 276,400 |
| 4. | London, United Kingdom | 272,400 |
| 5. | Singapore, Singapore | 249,800 |
| 6. | Los Angeles, United States | 192,400 |
| 7. | Chicago, United States | 160,100 |
| 8. | Houston, United States | 132,600 |
| 9. | Beijing, China | 131,500 |
| 10. | Shanghai, China | 130,100 |
| 11. | Sydney, Australia | 129,500 |
| 12. | Hong Kong, China | 125,100 |
| 13. | Frankfurt, Germany | 117,400 |
| 14. | Toronto, Canada | 116,100 |
| 15. | Zurich, Switzerland | 105,100 |
| 16. | Seoul, South Korea | 102,100 |
| 17. | Melbourne, Australia | 97,300 |
| 18. | Dallas, United States | 92,300 |
| 19. | Geneva, Switzerland | 90,300 |
| 20. | Paris, France | 88,600 |
