Bengaluru Makes It To The List Of Cities With ‘Most Millionaires’

Through a mix of muddle and dynamism, New York is the city that never sleeps. Every year, it succeeds as a city as it continuously attracts new people and creates new job opportunities for them. The city still tops the list with the most wealth, around $3 trillion, as compared to any other metropolitan city in the world.

Apart from that, cities like Bengaluru, Ho Chi Minh City, and Scottsdale have also seen their millionaire population rise by double in the last 10 years.

According to Henley and Partners, Bengaluru is currently booming with 13,200 high-net-worth individuals (HNWI), and is also one of the fastest-growing cities in the world for millionaires. It is also known as the Silicon Valley of India due to its booming tech sector.

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Meanwhile, NYC has thousands of people migrating from different parts of the world to make a living in the city. Even though the price of basics like rent, food, and clothing has increased, people are still getting richer in New York.

According to a global ranking of the wealthiest cities by Henley & Partners, an immigration consultancy, New York has almost 350,000 millionaires living in the city. This is the largest number of millionaires in any city in the world.

In the last decade, the number has gone up by 48 per cent from a decade ago. This means that there are about one in every 24 of its 8.26 million residents have a seven-figure net worth, as compared with about one in 36 in 2013. In terms of ultra-rich people, New York holds a large share, with 60 billionaires. The city also has 744 people with investable wealth of more than $100 million.

The study and its findings make one certain, whatever the problems with New York, it remains among the world’s numero uno cities. A city that never sleeps.

The second spot overall was occupied by San Francisco’s famous Bay Area. California’s most loved region had 305,700 people with a seven-figure net worth with Silicon Valley biggies like San Jose, San Francisco and Palo Alto falling in this area.

The Japanese capital city of Tokyo, known to be among the planet’s costliest, came in third with 298,300 HNIs. Another Asian giant, Singapore was ranked fourth with it being recognised as a top destination for millionaires when migrating.