Top 10 Wealthiest Cities in the World in 2023

Stratosphere · #1 Posted **Apr 20, 2023, 2:48 PM**

The wealthiest cities in the world in 2023 list was recently released by global wealth tracker Henley & Partners. The report said that when it comes to the number of resident millionaires, cities in the USA and China dominate the top 10 richest cities in the world, while only one European city, namely London, makes it onto the 2023 list.

1- New York City
340,000 millionaires
724 centi-millionaires
58 billionaires

2- Tokyo
290,300 millionaires
250 centi-millionaires
14 billionaires

3- San Francisco Bay Area
285,000 millionaires
629 centi-millionaires
63 billionaires

4- London
258,000 millionaires
384 centi-millionaires
36 billionaires

5- Singapore
240,100 millionaires
329 centi-millionaires
27 billionaires

6- Los Angeles
205,400 millionaires
480 centi-millionaires
42 billionaires

7- Hong Kong
129,500 millionaires
290 centi-millionaires
32 billionaires

8- Beijing
128,200 millionaires
354 centi-millionaires
43 billionaires

9- Shanghai
127,200 millionaires
332 centi-millionaires
40 billionaires

10- Sydney
126,900 millionaires
184 centi-millionaires
15 billionaires

https://www.timesnownews.com/busines...ticle-99603249

iheartthed · #2 Posted **Apr 20, 2023, 2:52 PM**

Sydney in the top 10 is a little surprising.

pj3000 · #3 Posted **Apr 20, 2023, 4:21 PM**

Really seems like Tokyo should be much further down on the list, if we're talking about wealthiest cities.

Why even include the numbers of centi-millionaires and billionaires if they're not factoring into it?

bilbao58 · #4 Posted **Apr 20, 2023, 10:45 PM**

Next 10 from that list:

11 Chicago
12 Toronto
13 Frankfurt
14 Zurich
15 Houston
16 Seoul
17 Melbourne
18 Paris
19 Geneva
20 Dubai

https://indianexpress.com/article/wo...-list-8564058/

isaidso · #5 Posted **Apr 20, 2023, 11:00 PM**

The header 'Wealthiest Cities' is very misleading. It's really just a list of cities with the most millionaires. Citizens in cities like Oslo and Perth are wealthier than those is Hong Kong, Tokyo, London, etc.

Median Income (PPP) is a far better gauge of the material well being of regular citizens. The table (linked at the bottom) is in International Dollars so doesn't represent actual dollar amounts. I've converted the table to an INDEX and used the US as a base at 100. G7 are in GREEN. This is a FAR more accurate gauge of wealth than GDP per capita (Nominal) or counting how many 1 percenters a city has:

10 Wealthiest + Select Countries
BY MEDIAN INCOME 2022

1. Luxembourg: 136.3
2. United Arab Emirates: 125.8
3. Norway: 117.5
4. Switzerland: 111.3
5. United States: 100
6. Canada: 96.6
7. Austria 95.3
8. Sweden: 91.3
9. Denmark: 90.3
10. Netherlands: 88.9

11. Australia: 88.4
13. Germany: 87.3
14. France: 84.8
17. United Kingdom: 76.6
19. Ireland: 75.2
20. Japan: 73.8
22. Italy: 68.2

To get an even better gauge of material well being one would need to take this data and adjust it based on services one receives from government, taxation rates, and even things that aren't immediately obvious like does one need a car to get to work or buy groceries. PT, cycling, or walking reduces expenses considerably but just isn't an option in many cities.

https://worldpopulationreview.com/co...ome-by-country

Crawford · #6 Posted **Apr 21, 2023, 12:37 AM**

Quote:

Originally Posted by bilbao58

Next 10 from that list:

11 Chicago
12 Toronto
13 Frankfurt
14 Zurich
15 Houston
16 Seoul
17 Melbourne
18 Paris
19 Geneva
20 Dubai

https://indianexpress.com/article/wo...-list-8564058/

Paris has fewer millionaires than Frankfurt, Zurich or Melbourne?

Geneva has more millionaires than Dallas, Houston, Miami, Seattle, Boston, Philly or DC?

I'm extremely skeptical they're comparing apples-apples.

liat91 · #7 Posted **Apr 21, 2023, 3:42 AM**

Quote:

Originally Posted by Crawford

Paris has fewer millionaires than Frankfurt, Zurich or Melbourne?

Geneva has more millionaires than Dallas, Houston, Miami, Seattle, Boston, Philly or DC?

I'm extremely skeptical they're comparing apples-apples.

You beat me to that Paris ranking below Zurich. Zurich has a lot of rich, but come on.

Capsicum · #8 Posted **Apr 21, 2023, 10:19 AM**

Quote:

Originally Posted by isaidso

The header 'Wealthiest Cities' is very misleading. It's really just a list of cities with the most millionaires. Citizens in cities like Oslo and Perth are wealthier than those is Hong Kong, Tokyo, London, etc.

Median Income (PPP) is a far better gauge of the material well being of regular citizens. The table (linked at the bottom) is in International Dollars so doesn't represent actual dollar amounts. I've converted the table to an INDEX and used the US as a base at 100. G7 are in GREEN. This is a FAR more accurate gauge of wealth than GDP per capita (Nominal) or counting how many 1 percenters a city has:

10 Wealthiest + Select Countries
BY MEDIAN INCOME 2022

1. Luxembourg: 136.3
2. United Arab Emirates: 125.8
3. Norway: 117.5
4. Switzerland: 111.3
5. United States: 100
6. Canada: 96.6
7. Austria 95.3
8. Sweden: 91.3
9. Denmark: 90.3
10. Netherlands: 88.9

11. Australia: 88.4
13. Germany: 87.3
14. France: 84.8
17. United Kingdom: 76.6
19. Ireland: 75.2
20. Japan: 73.8
22. Italy: 68.2

To get an even better gauge of material well being one would need to take this data and adjust it based on services one receives from government, taxation rates, and even things that aren't immediately obvious like does one need a car to get to work or buy groceries. PT, cycling, or walking reduces expenses considerably but just isn't an option in many cities.

https://worldpopulationreview.com/co...ome-by-country

Do we have such lists for cities themselves, not countries? If so, that would be interesting.

fleonzo · #9 Posted **Apr 21, 2023, 1:07 PM**

Quote:

Originally Posted by bilbao58

Next 10 from that list:

11 Chicago
12 Toronto
13 Frankfurt
14 Zurich
15 Houston
16 Seoul
17 Melbourne
18 Paris
19 Geneva
20 Dubai

https://indianexpress.com/article/wo...-list-8564058/

Wait what? Did I miss something? Where’s DC on that list? It should be at least in the Top 20….🤔🤨

mousquet · #10 Posted **Apr 21, 2023, 9:42 PM**

Quote:

Originally Posted by Capsicum

Do we have such lists for cities themselves, not countries? If so, that would be interesting.

Just as usual when it comes to those rankings, it always depends on what they call "city" for their statistical estimates anyway.
The US has their MSA and CSA, besides cities proper.
France has their urban areas as defined by INSEE, the national institute of economic stats.
Every country must have their own ways of measurement in that matter.

If they took Central Paris within its administrative boundaries alone, it doesn't account for anything much on the world stage.
It is only 2.15 million people and its population is declining because of the cost of real estate and crushing density in there.
The Paris urban area, however, is 10.85 million people. It is more relevant when comparing it to other large cities.

tayser · #11 Posted **Apr 22, 2023, 2:59 AM**

Quote:

Originally Posted by iheartthed

Sydney in the top 10 is a little surprising.

The median value of a house in Greater Sydney (from the very centre of the city on the harbour out to the far fringes of the sprawl) is over $1million.

If you have no debt, that makes you a millionaire. Nevermind the massive superannuation wealth all Australians have. Those two asset classes are where most Australian's wealth is held.

It really isn't surprising Sydney's in the top 10 or Melbourne in the top 20 ($750,000 for Melbourne) when viewed in that context.

Crawford · #12 Posted **Apr 22, 2023, 3:22 AM**

Quote:

Originally Posted by tayser

The median value of a house in Greater Sydney (from the very centre of the city on the harbour out to the far fringes of the sprawl) is over $1million.

If you have no debt, that makes you a millionaire. Nevermind the massive superannuation wealth all Australians have. Those two asset classes are where most Australian's wealth is held.

It really isn't surprising Sydney's in the top 10 or Melbourne in the top 20 ($750,000 for Melbourne) when viewed in that context.

Paris has 15 million people, and likely far more wealthy than Sydney or Melbourne. And home values typically aren't included in wealth comparisons. Not even sure how that would be done, because how would they calculate the equity in a home? I could own a $2 million home, but have negative equity if I bought it for $2.5 with 10% down.

And I bet there are more $1 million USD+ units in the Paris area than in Sydney or Melboune. Probably more than the two combined. Paris is enormous, and has vast wealth.

iheartthed · #13 Posted **Apr 22, 2023, 4:16 PM**

Quote:

Originally Posted by tayser

The median value of a house in Greater Sydney (from the very centre of the city on the harbour out to the far fringes of the sprawl) is over $1million.

If you have no debt, that makes you a millionaire. Nevermind the massive superannuation wealth all Australians have. Those two asset classes are where most Australian's wealth is held.

It really isn't surprising Sydney's in the top 10 or Melbourne in the top 20 ($750,000 for Melbourne) when viewed in that context.

I don't think this considers primary residence in the calculation (or at least it shouldn't).

homebucket · #14 Posted **Jun 21, 2023, 10:07 PM**

NYC only has 58 billionaires? That doesn't sound right.

According to this list, it had 136 as of 2022. Next was HK at 112 and SF at 84.

Quote:

Top 10 cities around the world with the most billionaires
New York City
Hong Kong
San Francisco
Moscow
London
Beijing
Los Angeles
Singapore
Shenzhen
Mumbai

https://www.cnbc.com/2023/06/11/citi...-x-report.html

Wigs · #15 Posted **Jun 22, 2023, 1:09 AM**

Quote:

Originally Posted by iheartthed

Sydney in the top 10 is a little surprising.

not totally shocking to anyone that's spent considerable time there, or have seen this ridiculous "reality" show:
It's not just the largest city, it's a playground for the wealthy of Oceania, China/Southeast Asia, even wealthy Russians love it. It is hard to beat the views and beauty of Sydney harbour

• Video Link

edit: I would have expected it to be top 20, but top 10 is surprising considering other cities mentioned like Paris. And the Texas 7M+ pop. duo, Dallas or Houston have huge amounts of wealth as others have stated.

Wigs · #16 Posted **Jun 22, 2023, 1:14 AM**

If they are showing millionaires, centi-millionaires and Billionaires shouldn't the list be weighted more heavily to the latter?

Nomayoplease · #17 Posted **Jun 26, 2023, 10:58 PM**

The numbers are way off what i am used to read... Sydney number 10...really hard tô believe

Quote:

Originally Posted by Stratosphere

The wealthiest cities in the world in 2023 list was recently released by global wealth tracker Henley & Partners. The report said that when it comes to the number of resident millionaires, cities in the USA and China dominate the top 10 richest cities in the world, while only one European city, namely London, makes it onto the 2023 list.

1- New York City
340,000 millionaires
724 centi-millionaires
58 billionaires

2- Tokyo
290,300 millionaires
250 centi-millionaires
14 billionaires

3- San Francisco Bay Area
285,000 millionaires
629 centi-millionaires
63 billionaires

4- London
258,000 millionaires
384 centi-millionaires
36 billionaires

5- Singapore
240,100 millionaires
329 centi-millionaires
27 billionaires

6- Los Angeles
205,400 millionaires
480 centi-millionaires
42 billionaires

7- Hong Kong
129,500 millionaires
290 centi-millionaires
32 billionaires

8- Beijing
128,200 millionaires
354 centi-millionaires
43 billionaires

9- Shanghai
127,200 millionaires
332 centi-millionaires
40 billionaires

10- Sydney
126,900 millionaires
184 centi-millionaires
15 billionaires

https://www.timesnownews.com/busines...ticle-99603249