New York has topped the list of the world’s wealthiest cities in 2025, while Dubai and Riyadh ranked among the fastest climbers.
According to the World’s Wealthiest Cities report, the United States (US) dominates the top 50, with 11 cities featured. New York leads with 384,000 millionaires, 818 centi-millionaires, and 66 billionaires. The San Francisco Bay Area ranks second with 342,400 millionaires and 82 billionaires—more than any other city.
Dubai edged up in this year’s rankings, moving from 21st to 18th place. It now has 81,200 millionaires, 237 ultra-wealthy individuals, and 20 billionaires, with a 102 percent increase in wealthy residents over the past decade.
Riyadh also showed strong growth, with a 65 percent rise in millionaires over ten years, reinforcing Saudi Arabia’s position as a rising wealth hub. Similarly, Abu Dhabi saw an 80 percent increase, reflecting the broader regional trend in capital accumulation.
In Asia, Shenzhen topped global millionaire growth with a 142 percent increase, followed by Hangzhou with 108 percent.
Not all cities saw gains. London dropped to sixth place with a 12 percent decline in millionaires, while Moscow fell to 40th after a 25 percent drop.
Looking ahead, cities like Dubai, Abu Dhabi, and Delhi are expected to see over 100 percent growth in ultra-wealthy residents in the next decade, driven by favourable tax policies and investment programmes.
While no African or Central American cities made the top 50, the report notes strong growth in cities like Cape Town, Marrakech, and Nairobi, where the number of ultra-wealthy individuals is expected to double.
