With 11 entries, American cities maintained their dominance on the list of the top 50 cities for millionaires, according to Henley & Partners’ World’s Wealthiest Cities Report 2025. This is the fourth edition of the annual report published in collaboration with New World Wealth, a global data intelligence firm.
The cities on the list blend investment freedom with lifestyle dividends, a winning combination in the competition for mobile capital, Juerg Steffen, Henley & Partners’ CEO, said in a statement.
“These urban centers share common DNA — robust legal frameworks, sophisticated financial infrastructure, and perhaps most critically, investment migration programs that welcome global talent and capital,” he said.
Steffen noted that seven of the top 10 wealthiest cities are in countries with residence-by-investment programs, which create direct pathways for entrepreneurs and investors seeking access to these wealth hubs.
New World Wealth tracks the movements of some 150,000 high-net-worth individuals, those with $1 million or more in investable assets in its in-house database. It has a special focus on centimillionaires, those with more than $100 million in listed company holdings.
Entrepreneurs and company founders comprise 50% of the database. Other individuals in the database serve in key positions at high-value companies.
See the accompanying gallery for the 15 cities with the most millionaires in 2025, according to Henley & Partners.
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