New York is the richest city in the world thanks to its 349,500 millionaires, a number that has increased by almost 50% in the last decade, according to the most recent study “USA Wealth Report 2024”.
Of the total number of millionaires, 744 have more than one hundred million dollars and 60 are multimillionaires, according to the study carried out by the global residency and citizenship investment company Henley & Partners, in association with New World Wealth.
The biggest growth in the number of millionaires occurred between 2013 and 2019, Andrew Amoils, head of research at New World Wealth, explained to NBC station.
As the richest cities in the United States, New York is followed by the San Francisco Bay Area, with 305,700 millionaires, an increase of 82% in the last decade, and Los Angeles (212,100 millionaires), both in the California. Chicago (Illinois) follows with 120.5 thousand millionaires and Houston (Texas), with 90.9 thousand millionaires.
It is also noteworthy that, as a result of its technological boom, Austin, capital of Texas, had the biggest increase, of 110%, in its millionaire population between 2013 and 2023.
Andrew Amoils also assured that “future pockets of wealth to be considered are Salt Lake City (Utah), Tampa (Florida) and Naples (Florida)”.
“Over the next decade, we can expect these cities to attract an increasing number of high-net-worth residents,” he added.
The study also highlights that New York also has the most expensive properties, with an average price of 28.4 thousand dollars per square meter, followed by Los Angeles, with an average price of 17.8 thousand dollars per square meter.
According to this study, the United States continues to be the undisputed world leader in the creation and accumulation of private wealth, with 37% of the world’s millionaires: approximately 5.5 million high net worth individuals who own more than a million of dollars in cash to invest.
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