World’s richest cities in 2025 revealed By Henley and Partners

On April 8, 2025, Henley & Partners, in collaboration with New World Wealth, published the "World's Richest Cities 2025" report, ranking cities based on the number of millionaires, centimillionaires, and billionaires residing there.

The United States continues to dominate, with 11 cities in the top 50. New York retains its top position with 384,500 millionaires, including 818 centimillionaires and 66 billionaires, Caliber.Az reports, citing Henley & Partners.

Moscow, the only Russian city in the ranking, dropped two places to 40th.

San Francisco (including Silicon Valley) ranks second, with 342,400 millionaires and a leading 82 billionaires. Over the past decade, Shenzhen, Hangzhou, and Dubai outpaced San Francisco in millionaire growth, while Dubai made the biggest jump of the year, moving from 21st to 18th. Seoul saw the largest decline, dropping from 19th to 24th.

Tokyo holds third place with 292,300 millionaires, followed by Singapore in fourth with 242,400 millionaires.

Negative trends are evident in Los Angeles, which overtook London to rank fifth, with the UK capital slipping to sixth place. Moscow and London were the only cities to show negative trends over the past decade, with declines of 12% and 25%, respectively.

Other notable cities include Paris (7th), Hong Kong (8th), and Sydney (9th). Chicago, for the first time, entered the top 10.

The report highlights that cities offering investment freedom and high living standards are attracting mobile capital. Dubai and Abu Dhabi are expected to see significant growth, with the number of centimillionaires in both cities expected to double by 2035.

Additionally, Monaco tops the list of the most expensive cities, with elite property prices averaging USD 38,800 per square metre. New York, Hong Kong, and London follow closely behind.

Experts also note that smaller cities like St. Julian's in Malta and Riga in Latvia show significant potential for growth in their wealthy populations.

By Aghakazim Guliyev