Back to all Blog 04 February 2025

London knocked out of world's top five richest cities as millionaires exit

The world's wealthiest cities in 2025: Of the top 50 international HNW hubs, only the UK & Russian capitals have seen their millionaire populations decline over the last decade.

The United States continues to dominate a list of global wealth hubs, with 11 locations in the latest annual “Top 50 Cities for Millionaires” list, compiled by Henley & Partners and New World Wealth. New York takes the top spot in 2025, with 384,500 high-net-worth individuals (including 818 resident centi-millionaires and 66 billionaires), followed by the Bay Area (San Francisco & Silicon Valley) with 342,400 resident millionaires and, for the first time, more billionaires (82) than the Big Apple. The Bay’s millionaire population has nearly doubled (+98%) over the past decade.Tokyo is in third (292,300 resident millionaires), followed by Singapore (242,400) and Los Angeles (220,600). London has fallen out of the top five for the first time, slipping from fifth in 2024 to sixth position in 2025. The UK capital is now home to 215,700 millionaires, including 352 centi-millionaires and 33 billionaires. This chimes with separate analysis highlighting an exodus of wealth from the UK following Brexit and tax changes including the end of “non dom” status. Of the Top 50 cities, only Shenzhen (in 28th place, with 142% millionaire growth, and now home to 50,800 millionaires), Hangzhou (35th, with 108% growth and 32,200 millionaires), and Dubai (18th with 102%) grew faster than the Bay Area between 2014 and 2024. Dubai (now home to 81,200 millionaires) also claims the biggest-climber title in this year’s Top 50, moving from 21st to 18th place. Seoul is the biggest faller, dropping to 24th place from 19th last year.

Info from @primeresi

 

Property News and Blog

Read about our latest property news and get our regular property market updates from the team at Ian Green Residential, including specialist market news for Little Venice, Regent’s Park and St John’s Wood.

‘Promising signs’ for Prime London’s property market as under offers jump by 22% - Ian Green Residential
‘Promising signs’ for Prime London’s property market as under offers jump by 22%
‘Socially distanced’ viewings & digital deals: How the property market could function post-lockdown - Ian Green Residential
‘Socially distanced’ viewings & digital deals: How the property market could function post-lockdown
‘Unexpected mini-boom’ pushes asking prices to a record high - Ian Green Residential
‘Unexpected mini-boom’ pushes asking prices to a record high
View All

Useful Links

How much is my property worth?

Accurate, impartial house valuation gives you the means to make better property decisions.

get a valuation
Let’s start a conversation

At Ian Green Residential, we are here to assist you with all your property needs. Whether you have a general enquiry, or require a private consultation, our team is ready to help. Contact us today, and let us provide you with the support and information you need!

T: 020 7586 1000