There are a number of different lists compiled by various publications around the world attempt to determine the number of billionaires by world's major cities. The best-known estimate is by Forbes .
In 2024, Forbes listed New York City with the most billionaires at 110 people, followed by Hong Kong and Moscow, tied at second place, with 74 billionaires, and Mumbai in fourth place with 69 billionaires. [1]
Rank | City | Country/Territory | Region | Billionaires |
---|---|---|---|---|
1 | New York City | ![]() | North America | 110 |
2 | Hong Kong | ![]() | Asia | 74 |
2 | Moscow | ![]() | Europe | 74 |
4 | Mumbai | ![]() | Asia | 69 |
5 | Beijing | ![]() | Asia | 63 |
6 | London | ![]() | Europe | 62 |
7 | Shanghai | ![]() | Asia | 54 |
8 | Los Angeles | ![]() | North America | 53 |
9 | Singapore | ![]() | Asia | 52 |
10 | San Francisco | ![]() | North America | 50 |
The latest World’s Wealthiest Cities Report by Henley & Partners [2] shows San Francisco (including the San Francisco Bay Area) overtaking New York as the city with the most billionaires, as well as overtaking Tokyo to become second to New York in millionaires. Notably, Monaco, with a population under 50,000, is home to 20 billionaires. [2]
Rank | City | Country/Territory | Region | Billionaires |
---|---|---|---|---|
1 | San Francisco (including Bay Area) | ![]() | North America | 68 |
2 | New York City | ![]() | North America | 60 |
3 | Los Angeles | ![]() | North America | 43 |
4 | Beijing | ![]() | Asia | 42 |
5 | Shanghai | ![]() | Asia | 39 |
6 | London | ![]() | Europe | 35 |
7 | Hong Kong | ![]() | Asia | 35 |
8 | Singapore | ![]() | Asia | 30 |
9 | Mumbai | ![]() | Asia | 29 |
10 | San Francisco | ![]() | North America | 24 |
In 2024, Hurun Research Institute listed London with the most billionaires at 143 people, followed by New York City with 119 billionaires, and Mumbai in third place with 92 billionaires. [3]
Rank | City | Country/Territory | Region | Billionaires |
---|---|---|---|---|
1 | London | ![]() | Europe | 143 |
2 | New York City | ![]() | North America | 119 |
3 | Mumbai | ![]() | Asia | 92 |
4 | Beijing | ![]() | Asia | 91 |
5 | Shanghai | ![]() | Asia | 87 |
6 | Shenzhen | ![]() | Asia | 84 |
7 | Hong Kong | ![]() | Asia | 65 |
8 | Moscow | ![]() | Europe | 59 |
9 | New Delhi | ![]() | Asia | 57 |
10 | San Francisco | ![]() | North America | 52 |
A millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency. Depending on the currency, a certain level of prestige is associated with being a millionaire. Many national currencies have, or have had at various times, a low unit value, in many cases due to past inflation. It is much easier and less significant to be a millionaire in those currencies, thus a millionaire in the local currency of Hong Kong or Taiwan, for example, may be merely of average wealth, or perhaps less wealthy than average. A millionaire in Zimbabwe in 2007 could have been extremely poor. Because of this, the term 'millionaire' generally refers to those whose assets total at least one million units of a high-value currency, such as the United States dollar, euro, or pound sterling.
A billionaire is a person with a net worth of at least one billion units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. It is a sub-category of the concept of the ultra high-net-worth individual. The American business magazine Forbes produces a global list of known U.S. dollar billionaires every year and updates an internet version of this list in real time. The American oil magnate John D. Rockefeller became the world's first confirmed U.S. dollar billionaire in 1916.
High-net-worth individual (HNWI) is a technical term used in the financial services industry for people who maintain liquid assets at or above a certain threshold. Typically, they are defined as holding financial assets valued over US$1 million. A secondary level, a very-high-net-worth individual (VHNWI), refers to someone with a net worth of at least US$5 million. The terminal level, an ultra-high-net-worthindividual (UHNWI), holds US$30 million in investible assets. Individuals with a net worth of over US$1 billion are considered to occupy a special bracket of the UHNWI. These thresholds are broadly used in studies of wealth inequality, government regulation, investment suitability requirements, marketing, financing standards, and general corporate strategy.
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Henley & Partners is a British investment migration consultancy based in London. The company offers services to individuals and consults governments on residence and citizenship programs. In some cases, the company even runs the programs on behalf of governments. The company has pioneered the industry of selling citizenship and passports.
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