Henley & Partners and New World Wealth have just released a report titled “The World’s Wealthiest Cities in 2024,” listing the richest cities in the world in 2024. In this list, three cities in the United States (US) made it to the top 10 richest cities in the world.
According to the report, as many as 11 cities in the US are included in the top 50 richest cities in the world with liquid wealth that can be invested of more than US$1 million or around Rp16.08 billion (assuming an exchange rate of Rp16,082/US$).
New York City, US, has officially been crowned as the richest city in the world according to the report “The World’s Wealthiest Cities in 2024,” with a total wealth owned by residents of over US$3 trillion or around Rp48.276 trillion. It is reported that there are 349,500 millionaires, 744 centi-millionaires, and 60 billionaires living in New York.
“The wealth held by the residents of The Big Apple (the nickname for New York City) is higher than the total wealth held by most G20 countries,” wrote the report by Henley & Partners and New World Wealth, quoted on Wednesday (May 8, 2024).
Meanwhile, the second position as the richest city in the world is held by the Bay Area, which includes San Francisco City and Silicon Valley. Bay Area is one of the regions with the highest wealth growth rates in the world.
Reportedly, the population of millionaires living in the Bay Area grew by 82 percent over a decade. In total, there are 305,700 millionaires, 675 centi-millionaires, and 68 billionaires living in Northern California area.
Moving away from the US, Tokyo becomes the third city to occupy the position as the richest city in the world. The capital of Japan is reported to be inhabited by 298,300 millionaires.
Meanwhile, Singapore is the only city from Southeast Asia that made it to the top five as well as the top 10 in the list of the richest cities in the world. Singapore, which holds the fourth position, has seen an increase in the number of millionaires by 64 percent over the last 10 years and is predicted to be able to surpass Tokyo’s position.
“Known as the most business-friendly city in the world, Singapore is also one of the top destinations for millionaire migration in the world,” wrote the report “The World’s Wealthiest Cities in 2024.”
“About 3,400 people with very high net worth (HNWI) moved to Singapore in 2023. Now, the city has 244,800 millionaires, 336 centi-millionaires, and 30 billionaires,” continued the same report.
1. New York, US
2. Bay Area, US
3. Tokyo, Japan
4. Singapore, Singapore
5. London, United Kingdom
6. Los Angeles, US
7. Paris & Ile-de-France, France
8. Sydney, Australia
9. Hong Kong, Hong Kong
10. Beijing, China
[Image: CNBC Video]
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