World's richest people mostly live in these 10 cities
What's the story
A recent report by wealth intelligence platform Altrata has revealed that seven of the world's top 10 cities with the highest number of ultra-wealthy residents are in the US. The report tracks individuals with a net worth above $30 million and includes data through June 2025, CNBC Make It reported. New York City leads this elite list with a whopping 21,380 ultra-wealthy residents.
Growth surge
Other US cities on the list
The report shows that all seven US cities on the list have witnessed double-digit growth in their ultra-rich populations over the past year. Los Angeles comes in third with 11,680 ultra-wealthy residents, followed by San Francisco (8,270), Chicago (7,530), Dallas (6,530), Washington D.C. (6,460), and Houston (5,900). New York's position is attributed to its status as a global financial hub where banking and finance are common industries among the ultra-wealthy across generations.
Global perspective
Cities outside the US
Outside the US, Hong Kong comes second with 17,215 ultra-wealthy residents. Tokyo (6,940) and London (6,660) also feature on this elite list. The rise of Hong Kong is attributed to a surge in IPO activity, with valuations on its stock exchange jumping eightfold in early 2025 according to CNBC.
Wealth distribution
Global ultra-rich population and wealth concentration
Altrata estimates that individuals worth over $30 million make up just 1% of the global millionaire population but hold nearly a third of total millionaire wealth. The global ultra-rich population stands at 500,000 and is projected to reach 670,000 by 2030, according to CNBC Make It. This data underscores the concentration of wealth among a small percentage of high-net-worth individuals worldwide.