Top 15 Richest Cities in the World in 2024

Henley & Partners annually publishes the World’s Wealthiest locations Report, identifying the top 50 locations with the highest concentration of millionaires and billionaires. Four Australian capital cities reached the rich list in 2024, with Sydney and Melbourne both ranking in the top twenty.

New York City is at the top of the rich list for another year. The Big Apple boasts a staggering total wealth of $3 trillion USD (more than $4.5 trillion in Australian dollars), with 349,500 millionaires, 744 centimillionaires, and 60 billionaires. The Bay Area (including San Francisco and Silicon Valley) came in second place on the list of the world’s wealthiest cities, followed by Tokyo, Singapore, and London.

Sydney is now the eighth wealthiest city in the world, up from tenth in 2023. Over the last decade, the Emerald City’s millionaire population has increased by 34%, with 147,000 millionaires, 205 centi-millionaires, and 20 billionaires – and that’s all in USD, implying an even larger amount in Australian dollars. The same research also ranked Sydney as the world’s sixth most expensive city to live in, trailing only Monaco, New York City, London, Hong Kong, and Saint-Jean-Cap-Ferrat in France.

Melbourne ranked 15th, with 97,900 millionaires, 112 centi-millionaires, and 10 billionaires. Perth and Brisbane rank 34th and 42nd, respectively.

According to Henley and Partners, the world’s top 15 wealthiest cities are:

  1. New York
  2. San Francisco
  3. Tokyo
  4. Singapore
  5. London
  6. Los Angeles
  7. Paris
  8. Sydney
  9. Hong Kong
  10. Beijing
  11. Shanghai
  12. Chicago
  13. Toronto
  14. Milan and Lombardy
  15. Melbourne

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