Top 10 Cities Where Billionaires Live in 2024

Billionaires reside in many countries around the world with assets over USD 100 million. These cities, known for their strong financial markets, advanced technology, and dynamic business environments, attract some of the world’s richest people.

According to the Henley & Partners “Billionaire Report 2024,” the global population of billionaires has increased by 54% over the past decade, now totaling over 29,300 worldwide.

Here are the top cities where billionaires live:

1. New York City, USA

New York City leads with 744 billionaires. As a global financial center, it hosts Wall Street and numerous multinational corporations. The city’s diverse economy includes finance, real estate, media, technology, and fashion. Its business-friendly environment and extensive infrastructure make it a prime location for billionaires. Manhattan’s real estate market is also a major attraction for the ultra-wealthy.

2. Bay Area, USA

The Bay Area, which includes San Francisco and Silicon Valley, is second with 675 billionaires. This area is the heart of the technology industry, housing major companies like Apple, Google, and Meta (Facebook). The region’s wealth is significantly driven by the tech sector and venture capital, supported by proximity to top-tier universities like Stanford and UC Berkeley.

3. Los Angeles, USA

Los Angeles is home to 496 billionaires. Known globally as an entertainment hub, LA hosts the film, TV, and music industries with companies like Warner Bros and Disney. Its diverse economy also includes growing sectors in technology, real estate, and fashion, making it a magnet for the rich and famous.

4. London, UK

With 370 billionaires, London is Europe’s wealthiest city. Its financial districts, like the City of London and Canary Wharf, are key global financial centres. London attracts wealth through its strong banking, insurance, wealth management, and fintech industries.

5. Beijing, China

Beijing, the political and cultural capital of China, ranks fifth with 347 billionaires. It is a major hub for state-owned enterprises and private companies, particularly in technology, manufacturing, and real estate.

6. Singapore, Singapore

Singapore, a global financial centre and tax-friendly destination, hosts 336 billionaires. Its strategic location, political stability, and robust regulatory environment attract wealthy individuals from across Asia and beyond.

7. Shanghai, China

Shanghai has 322 billionaires and is China’s largest city and a significant global financial center. The city’s strong financial institutions, multinational corporations, and booming technology sector contribute to its wealth.

8. Hong Kong (SAR China)

Hong Kong remains a financial powerhouse despite political challenges, with 320 billionaires. Its role as a gateway to China and its robust legal system continues to attract high-net-worth individuals.

9. Chicago, USA

Chicago, a major financial centre in the Midwest, has 290 billionaires. It hosts strong industries in finance, real estate, manufacturing, and commodities trading.

10. Paris, France

Paris completes the top 10 with 286 billionaires. As a global centre for fashion, luxury goods, and culture, it attracts wealthy individuals worldwide. The city’s financial sector and high-end real estate market are significant wealth drivers.