U.S. Is Home to 6 of the Top 20 Cities with the Most Billionaires in the World San Francisco has the most billionaire residents of any city, and New York has the most millionaires. See what other cities made the list.

By Madeline Garfinkle Edited by Jessica Thomas

Opinions expressed by Entrepreneur contributors are their own.

According to a Henley & Partners report, the U.S. dominates its roundup of the world's wealthiest cities, holding six of the 20 spots in its list of the cities with the most millionaires. The firm counts millionaires as anyone with at least $1 million in investable assets. Although New York lost 12% of its wealthiest residents in the first half of 2022, according to the report, the Big Apple is still the city with the most millionaires in the world. However, other cities are catching up to New York and could overtake its top spot over the next few years. Here are the cities where the most wealth is concentrated.

Related: Analysis: These Cities Are Home to the Highest-Income Entrepreneurs

1. New York

Millionaires: 16,207

Billionaires: 59

2. Tokyo

Millionaires: 7,613

Billionaires: 12

3. San Francisco

Millionaires: 13,513

Billionaires: 62

4. London

Millionaires: 9,616

Billionaires: 38

5. Singapore

Millionaires: 8,376

Billionaires: 26

6. Los Angeles

Millionaires: 8,938

Billionaires: 34

7. Chicago

Millionaires: 7,740

Billionaires: 28

8. Houston

Millionaires: 6,904

Billionaires: 25

9. Beijing

Millionaires: 6,633

Billionaires: 44

10. Shanghai

Millionaires: 6,530

Billionaires: 42

11. Sydney

Millionaires: 4,688

Billionaires: 16

12. Hong Kong

Millionaires: 5,870

Billionaires: 28

13. Frankfurt

Millionaires: 4,001

Billionaires: 14

14. Toronto

Millionaires: 4,347

Billionaires: 17

15. Zurich

Millionaires: 7,638

Billionaires: 12

16. Seoul

Millionaires: 4,881

Billionaires: 25

17. Melbourne

Millionaires: 3,629

Billionaires: 12

18. Dallas

Millionaires: 4,551

Billionaires: 18

19. Geneva

Millionaires: 8,645

Billionaires: 16

20. Paris

Millionaires: 2,441

Billionaires: 15

Related: Infographic: Here Are the 15 Most Entrepreneurial Cities in the U.S.

Madeline Garfinkle

News Writer

Madeline Garfinkle is a News Writer at Entrepreneur.com. She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Growing a Business

What Our Digital World Is Missing — and How I Turned It Into $100 Million After Dropping Out of High School

I went from high school dropout to $100 million CEO by sticking to one very important learning principle.

Starting a Business

"Nothing Is Obvious the First Time": How This Serial Entrepreneur Is Redefining Sports Media with On3

On3 founder and serial entrepreneur Shannon Terry shares his thoughts on the evolving sports media landscape and his insights on building and growing a business from personal experience.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Growing a Business

This Charleston Hotspot Found an Inflation Loophole That Helps It Avoid Rising Food Costs – Here's Its Secret

Miller's All Day partners with local farmers to combat rising inflation costs and thrive in Charleston's competitive restaurant scene.

Business Plans

Healthy Business Growth Comes from Depth, Not Just Disruption — Here's Why

For startups with a strong foundation, here's how to discover and deliver new products and services that customers want.