We all know that when you have a hefty bank account, the whole world is your oyster. If you were able to live wherever you wanted, where would you choose? For many, living in Tuscany, Barcelona or even Dubai sounds like a nice concept, but we are not taking into consideration a real question: Where would a millionaire like to live?
Cities across the globe are in a constant tug-of-war to lure the ultra-rich, along with top talent and investment, all in the name of boosting their economies. And millionaires have all one thing in common: they like to keep their fortune and maintain a healthy network that help them maintain their businesses and wealth intact. While it would be grand to retire to Sicily to bask in the Mediterranean, most like to take care of their businesses.
When it comes to attracting big companies, the United States is playing the game better than most. According to the latest World’s Wealthiest Cities Report, the U.S. is home to 11 of the top 50 richest cities on the planet. This annual ranking, put together by independent wealth research firm Henley & Partners, lays out where the money is piling up.
The City where the money never sleeps
When it comes to cities swimming in cash, New York City sits at the top of the list. The combined wealth of its 8 million residents adds up to more than $3 trillion —that’s more than what most entire G20 countries hold. The Big Apple is home to no less than 349,500 millionaires, plus 744 centi-millionaires. Oh, and let’s not forget the 60 billionaires who probably never have to check price tags.
It’s no surprise that New York City holds the crown as the wealthiest city on Earth. After all, it’s the financial heartbeat of the U.S., home to Wall Street and 41 of the Fortune 500 companies as of 2024.
In 2023, the city’s total economic output (GDP) hit $1.8 trillion —more than the entire economy of some countries. Leading the charge? Finance and insurance, which alone pulled in $325.2 billion. In simple terms, the Big Apple is where fortunes are made, stocks are traded, and money never seems to sleep.
If you’re talking big banks, you’re talking New York City. Major financial powerhouses like Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley all call the Big Apple home. But it’s not just about money —NYC is also a hotspot for advertising, fashion, healthcare, media, and real estate, making it a playground for industries that keep the world turning.
While Silicon Valley is famous for tech, some of the biggest names in the industry have set up shop in NYC, turning parts of the city into “Silicon Alley.” In the last ten years, the city’s tech scene has doubled, proving that the Big Apple isn’t just about old money —it’s also a place where the future is being built.
What about billionaires?
While there are thousands of millionaires in NYC, there are (only /s) 60 billionaires living at the Big Apple. Since birds of a feather flock together, it’s predictable they would tend to live in the same area, which has been famously known as Billionaire’s Row.
Tucked into Midtown Manhattan, Billionaires’ Row is a stretch of ultra-luxury skyscrapers built for those with wallets as high as their penthouses. This exclusive strip runs along 57th Street, from Park Avenue to the Hudson River, where some of the world’s richest individuals have snagged apartments worth tens of millions—and in some cases, even a billion dollars.
The transformation of this area into a playground for the ultra-rich kicked off in 2009, when construction began on One57, a towering luxury residence between 6th and 7th Avenue. By the time it was completed in 2014, it had set the stage for a wave of high-rise developments that would turn this part of the city into Manhattan’s ultimate real estate power move.
