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Yahoo
2 days ago
- Business
- Yahoo
37% Of The World's Millionaires Call The US Home, Up 78% Over The Last Decade
The U.S. has the largest number of high-net-worth individuals, according to a new report from Henley & Partners and New World Health 37% of the global millionaire population, 36% of the world's centimillionaires, and 33% of billionaires call the country home These ultra-wealthy individuals primarily live in or near major cities like New York, San Francisco, and Los Angeles The U.S. is home to 37% of the global millionaire total, according to a new report from Henley & Partners and New World Wealth. The USA Wealth Report says that over 6 million high net worth individuals, defined as those with investable assets of $1 million or more, resided in the U.S. at the end of 2024. Additionally, 36% of the world's centimillionaires and 33% of the world's billionaires also call the country home. Don't Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — Maximize saving for your retirement and cut down on taxes: . Over the past decade, the U.S. has seen its millionaire population increase by 78%. This growth slightly outpaces China, which saw its millionaire population increase by 74% between 2014 and 2024, and well outpaces other wealthy countries like Japan (5%), Canada (26%), Switzerland (28%), and the UK (-9%). Tim Klatte, partner at Grant Thornton China, warns high net worth individuals that despite this incredible growth rate, they shouldn't get too comfortable. "The U.S.–China trade war is more than an economic battle — it is a complex geopolitical contest with far-reaching consequences," he said in a statement accompanying the report. "HNW investors must account for the risk of escalating tensions, potential breakdowns in trade negotiations, and the broader threat of international conflict. These geopolitical dynamics can significantly influence investment decisions, asset allocation, and long-term wealth preservation." Trending: Invest where it hurts — and help millions heal:. In fact, this economic unrest has led many ultra-wealthy Americans to explore their options when it comes to moving their wealth outside the US. According to the report, US citizens account for over 30% of all investment migration applications submitted through Henley & Partners at this point in the year. A number that is nearly double the combined total of the next five investor nationalities, which include Turkish, Indian, and British. "We're witnessing a new level of sophistication in how affluent Americans manage and diversify their wealth," says Basil Mohr-Elzeki, managing partner at Henley & Partners North America. "Securing alternative residences and citizenships is now a strategic form of risk management — a thoughtful 'Plan B' that enhances family resilience, unlocks global opportunities, and safeguards multigenerational legacies."Within the U.S., high net worth individuals tend to congregate in areas the report calls "urban wealth hubs." New York City has the highest number of high net worth individuals, with 384,500 millionaires, 818 centimillionaires, and 66 billionaires. The San Francisco Bay Area, which includes Silicon Valley, is second with 342,400 millionaires, 756 centimillionaires, and 82 billionaires. Los Angeles, Chicago, and Dallas round out the top five. "Despite a wave of policy changes and their subsequent implications around the world, the relative political stability, rule of law, economic prospects, culture of innovation, not to mention the US dollar remaining the global reserve currency, have squarely positioned the USA as an environment in which to do business and to invest," said David K. Young, president at the Committee for Economic Development of The Conference Board in a statement accompanying the report. Read Next: Here's what Americans think you need to be considered wealthy. Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 37% Of The World's Millionaires Call The US Home, Up 78% Over The Last Decade originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Travel + Leisure
7 days ago
- Business
- Travel + Leisure
This City Was Named the World's Fastest-growing Wealth Hub With 156 Centimillionaires and 22 Billionaires
Shenzhen, China, is the fastest-growing wealth hub in the world. The Asian city is home to 50,800 millionaires, 156 centimillionaires, and 22 billionaires. A U.S. city is in second place, having experienced a 125 percent growth in millionaires over the last decade. Eight U.S. cities made the ranking. The top 5 include spots in India, the U.S., and China. Henley & Partners, a company helping people understand their options for residence and citizenship by investment released its World Wealthiest Cities Report. The report is published in partnership with global wealth intelligence firm New World Wealth, which tracks global wealth migration, With all of its combined data, the two companies created several lists, including the most expensive cities in the world and the wealthiest cities in the world. It also identified which destination is the fastest-growing wealth hub on the planet—and that honor went to Shenzhen, China. "Asia's top tech hub, Shenzhen, is the base city for global tech giants Huawei, Tencent, BYD, DJI, and ZTE and has experienced especially strong wealth growth over the past 20 years," Andrew Amoils, head of research at New World Wealth, explained. "It is now arguably the world's leading city in a number of key tech sub-sectors including computer hardware, electric vehicles, Wi-Fi dongles, mobile phones, flying drones, 5G, energy units, and electronics." The report indicates that the southeastern Chinese city has over 17 million residents, including 22 billionaires, 156 centimillionaires, and over 50,000 millionaires. However, Shenzhen is not the only city making waves. According to the findings, Scottsdale, Arizona, is the No. 2 fastest-growing hub in the world. It experienced a 125 percent growth in millionaires over the last decade. The city now boasts 14,800 millionaires, 64 centimillionaires, and five billionaires. Last year, Scottsdale was recognized as the best golf city in America, featuring an impressive 53 golf courses. Rounding out the top five global wealth hubs are Bengaluru, India, in third, followed by West Palm Beach, Florida, and Hangzhou, China. "Three other American cities—Miami, whose residents enjoy Florida's low state taxes, Washington D.C., and Austin, Texas, dubbed 'Silicon Hills' have also seen notably high growth between 2014 and 2024," the findings showed, showcasing that the U.S. still has what it takes to be on the global wealth stage. See the complete findings at
Forbes
7 days ago
- Business
- Forbes
Henley Wealth Report 2025: US Tops Global Wealth Growth
As globalization has expanded, residence and citizenship have become hot topics among the growing number of people traveling, working and living internationally. A country's (and its cities') global status and wealth can have a significant impact on its success as a travel destination—be it as an aspirational place to visit, an investment hub or a lifestyle magnet. Times Square, 'the Crossroads of the world', in New York—more popular and rich than ever. getty In its annual Wealth Report for 2025, wealth and investment migration specialists Henley & Partners in collaboration with global data intelligence firm New World Wealth places the US firmly atop the world's rankings as the foremost private wealth hub. Home to more than six million high-net-worth individuals (HNWIs) with an investable wealth of at least $1 million, that translates to an incredible 37% of the world's millionaire population. This dominance carries on even as you add zeros, with 36% of the world's $100+ million centi-millionaires and 33% of its billionaires also living in America, figures that don't quite tally exactly with Forbes' own list of cities with the most billionaires thanks to Henley's differing methodology. From 2014 to 2024, the US saw a 78% increase in its millionaire population to lead the W10 list of the 10 wealthiest countries in the world by millionaire population. Just behind is China that enjoyed 74% growth but is still far behind the US in terms of resident millionaires. By contrast, all other W10 countries have seen much slower growth over the same period, with the UK even suffering a 9% drop in its millionaire population—potentially a sign of economic stagnation post Brexit. Of the remaining W10, Australia's millionaire population increased by +30%, Switzerland's by +28%, Canada's by +26%, Italy's by +20%, Germany's by +10%, France's by +7% and Japan's by +5%. Of the world's wealthiest cities in 2025, four in the US appear in the top ten according to Henley's report, highlighting the continued dominance of America's traditionally wealthy hubs, almost all of which are major tourist hubs as well. Silicon Valley and the rest of the Bay Area saw huge wealth growth, down in no small part to the tech industry. Apple HQ, Cupertino. AFP via Getty Images New York remains the wealthiest city not only in the US but also the world. It's followed by the Bay Area, which includes San Francisco and Silicon Valley, also home to the highest concentration of billionaires with 82 residents. The Bay Area also saw the highest wealth growth of any top 10 US city, its millionaire population surging by 98%. Not far behind are Los Angeles, Chicago, Houston and Dallas, the latter two in particular seeing serious growth with 75% and 85% increases in their millionaire residents respectively. Rounding out the top ten are Seattle, Boston, Miami and Austin, the last two again demonstrating real growth with 94% and 90% millionaire growth respectively. The report also highlights the rapid rise in emerging wealth hubs, pointing to their growing appeal and popularity among the world's wealthy and mobile. Scottsdale has emerged as the fastest growing city by millionaire population with a huge 125% increase over the past decade. Close behind is West Palm Beach with a 112% rise. Blessed by nature, tourist-friendly Scottsdale is attracting millionaires faster than anywhere else in the US. getty Each is a showcase of broader demographic and economic shifts driven by a fast-expanding tech sector, skilled professionals and favorable regulatory conditions. As the city's fortunes right (both real and metaphorical), we can expect an increased interest in tourism as their facilities and brands improve in the global eye. David K. Young, President at the Committee for Economic Development of The Conference Board (CED), points out in the report that 'despite a wave of policy changes and their subsequent implications around the world, the relative political stability, rule of law, economic prospects, culture of innovation, not to mention the US dollar remaining the global reserve currency, have squarely positioned the USA as an environment in which to do business and to invest.' To find out more, read the full USA Wealth Report 2025.
India.com
25-05-2025
- Business
- India.com
10 Wealthiest Cities In The World: Dubai, Bangkok Absent From The List; Indias THIS City Ranks...Among Wealthy Nations
photoDetails english 2906095 Updated:May 25, 2025, 05:57 PM IST 10 Wealthiest Cities In The World 1 / 12 A recent report by Henley & Partners, in partnership with New World Wealth, highlights that while cities such as New York and the Bay Area remain at the forefront, places like Singapore and Sydney are quickly climbing the global rankings. New York City 2 / 12 New York City continues to top the global wealth charts, home to around 384,500 millionaires, 818 centi-millionaires (those with assets exceeding $100 million), and 66 billionaires. Despite facing issues like high living expenses and safety concerns, its strong financial sector, thriving luxury real estate market, and cultural influence keep it a magnet for the ultra-wealthy. The Bay Area 3 / 12 The Bay Area, which includes San Francisco and Silicon Valley, has seen a remarkable rise in wealth, now home to approximately 305,700 millionaires—a 98% increase over the past decade. This growth has been fueled by the booming tech sector and a strong culture of innovation. Tokyo 4 / 12 Tokyo remains the wealthiest city in Asia, with 298,300 millionaires. Its continued wealth accumulation is supported by economic stability, a robust corporate sector, and ongoing technological innovation. Singapore 5 / 12 Singapore is rapidly becoming a top choice for high-net-worth individuals, now home to 244,800 millionaires and 30 billionaires. Its appeal lies in pro-business policies, a high level of safety, and the absence of capital gains tax, making it a favored destination for the wealthy. Los Angeles 6 / 12 Los Angeles blends entertainment with commerce, boasting 212,100 millionaires, 516 centi-millionaires, and 43 billionaires. While known for its Hollywood glamour, the city also serves as a major hub for technology, real estate, and a wide range of industries. London 7 / 12 London is home to 227,000 millionaires, though it has experienced a 15% decline in its wealthy population over the past decade. This shift has been influenced by factors like Brexit, higher taxes, and changes to domicile regulations. Despite these challenges, the city's rich cultural heritage and historical importance continue to attract interest. Paris 8 / 12 Paris remains the wealthiest city in mainland Europe, with 165,000 resident millionaires. Its unique combination of culture, fashion, and business continues to draw affluent individuals from around the world. Hong Kong 9 / 12 Despite a slight decline, Hong Kong continues to be a key financial center, with 154,900 millionaires. Its strategic location and strong financial services industry remain major attractions for wealth. Sydney 10 / 12 Sydney has climbed the rankings, now hosting 152,900 high-net-worth individuals. The city's strong economic growth and high quality of life are key factors driving its growing attractiveness to the wealthy. Chicago 11 / 12 Chicago completes the top ten, with 127,100 millionaires. Its diverse economy and strategic location establish it as an important hub of wealth in the United States. Mumbai 12 / 12 Mumbai holds the 27th spot, home to 51,200 millionaires. Its unique mix of culture, fashion, and commerce continues to draw wealthy individuals.
Time of India
22-05-2025
- Business
- Time of India
Top 10 wealthiest cities in the world in 2025
In 2025, the global map of wealth is going through some exciting changes. The newest report by Henley & Partners, in collaboration with New World Wealth, gives us a peek into where the world's richest people are living these days. And let's just say — it's not only about the usual suspects like New York and London anymore. Tech hubs, tax-friendly cities, and lifestyle magnets are stepping up fast. New York City New York City is still king of the hill when it comes to wealth. It's home to a jaw-dropping 384,500 millionaires, 818 centi-millionaires (people worth $100 million or more), and 66 billionaires. Despite the rising cost of living and some ongoing crime concerns, NYC's charm hasn't faded for the ultra-wealthy. With Wall Street, luxury real estate, Broadway, and global cultural clout, it continues to reign as the ultimate money magnet. The Bay Area Right behind is The Bay Area, covering San Francisco and Silicon Valley, which now hosts 305,700 millionaires, a huge jump over the last decade. This region has seen a 98% surge in millionaire count since 2013, making it one of the fastest-growing wealth hubs in the world. Big Tech — think Apple, Meta, Google — and a culture of innovation are clearly paying off. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More Undo Tokyo Tokyo remains Asia's richest city with 298,300 millionaires. Its economic stability, strong corporate base, and tech sector have kept it consistently near the top. Despite not having as many billionaires as some other global cities, Tokyo remains an economic powerhouse with deep-rooted wealth. Singapore Singapore, though small in size, is making massive waves. With 244,800 millionaires and 30 billionaires, this city-state is turning into a favorite for global high-net-worth individuals. Why? Pro-business policies, safety, no capital gains tax, and a super-clean, well-run environment — what's not to love? Los Angeles Then there's Los Angeles, where glitz meets business. With 212,100 millionaires, 516 centi-millionaires, and 43 billionaires, LA isn't just about movie stars anymore. It's also a serious hub for tech, real estate, and entertainment money. London London, once a clear leader, has slipped to sixth place. The city now has 227,000 millionaires, but that number has dropped by 15% over the past decade. Thanks to Brexit, higher taxes, and shifts in its non-domicile rules, the ultra-rich are slowly drifting away from the UK's capital. That said, London still has immense cultural and historical pull, so it's not out of the game yet. Paris In Paris, luxury drives wealth. With 165,000 millionaires and a booming fashion and luxury industry, the French capital continues to attract the rich. Its iconic charm, food, fashion houses, and old-money families help it retain a strong position among the elite cities. Hong Kong Hong Kong, despite recent political and economic uncertainties, continues to be a top financial center. It houses 143,400 millionaires and remains a gateway to China for global investors. Real estate and finance dominate the city's wealth profile, though the growth rate has slowed. Sydney Sydney is one of the fastest-growing cities in terms of millionaire count, now home to 142,700 millionaires. The city benefits from a strong property market, growing tech industries, and a high quality of life. It's increasingly seen as a haven for wealthy individuals looking for stability and sunshine. Chicago Rounding out the top 10 is Chicago, with 120,500 millionaires. Known for its diversity in industry — from finance to healthcare and even manufacturing — Chicago has quietly remained a key city for wealth in the US. Interestingly, some other cities are climbing the ranks fast. Dubai is now in 18th place with 72,500 millionaires, a 102% growth in the past decade. Its zero income tax, luxury lifestyle, and safe environment make it a magnet for the wealthy, especially from Russia, India, and Africa. Even Shenzhen and Hangzhou in China have seen explosive growth — over 100% — driven by booming tech sectors and entrepreneurship. On the other hand, Seoul has slipped down the list, falling five places this year to 24th. While still a strong economy, the pace of wealth creation there seems to be slowing down compared to other Asian hubs. So, whether you're watching real estate trends, startup hotbeds, or the next luxury destination, this latest wealth map shows that money is not just staying put — it's moving fast, and cities are competing harder than ever to attract it. And with digital nomads, remote work, and new visa schemes, we're likely to see even more shake-ups in the coming years.
