FX.co ★ Top 5 cities by number of ultra-wealthy

1 – New York

New York City, the world's financial hub, is the leader in this ranking. It is the base for such major trading floors as the New York Stock Exchange (NYSE), the NASDAQ Stock Market, and others. This is what makes it so attractive to finance moguls. Today, more than 345,000 millionaires and 59 billionaires reside in the Big Apple. Around the same number of millionaires live in the wealthy suburbs of Greenwich, Great Neck, and Sands Point close to New York City. The total private wealth held by New Yorkers exceeds $3 trillion.

2 – Tokyo

The capital of Japan is also considered a leading global financial center. The headquarters of several major investment banks and insurance companies are based in Tokyo. This is one of the best megacities for doing business which is why it attracts so many wealthy people. As of today, more than 304,000 high-net-worth individuals live in Tokyo. Among the 12 billionaires who reside in Tokyo is Tadashi Yanai, Japan’s wealthiest entrepreneur who founded the famous clothing brand Uniqlo.

3 – San Francisco

Today, this American city is known as the center of high technology and innovation as this is where Silicon Valley is located. It is a base for such IT giants as Apple, Microsoft, Intel, Meta, Google, and many others. Their employees are believed to have the highest-paid jobs in the US. Recent data shows that today, around 276,000 millionaires and more than 60 billionaires live in San Francisco. Most of them made their fortune in the tech innovation industry.

4 – London

London remains the center of attraction for wealthy people from all over the world. No other city has so many rich foreigners living in it. London offers foreign finance moguls huge tax breaks, developed luxury infrastructure, and ample business opportunities. The city is one of the world's most important financial hubs. As of today, the UK capital is home to 272,000 millionaires and 38 billionaires.

5 – Singapore

In recent years, this Asian city-state has seen an influx of financial tycoons from China, Indonesia, Malaysia, and India. The rich prefer to stay here permanently as Singapore is believed to be one of the world’s most business-friendly locations. According to the latest estimates, Singapore and the islands around it is home to more than 249,000 millionaires and 26 ultra-rich with a net worth exceeding $1 billion.