London: The United States continued to lead the list of the top 50 cities by the number of wealthy individuals, with 11 cities from the country included in the ranking, according to the "Wealthiest Cities in the World" report for 2025. 

New York City tops the list globally with over 384,000 millionaires, including 818 individuals with fortunes exceeding $100 million and 66 billionaires.

The report revealed that the San Francisco Bay area, including Silicon Valley, ranked second with 342,400 millionaires and 82 billionaires. It surpassed New York in the number of billionaires, solidifying its position as a global hub for technological wealth, especially with a 98% increase in the number of wealthy individuals over the past decade.

Dubai saw an exceptional rise, jumping from 21st to 18th place in just one year. The city is now home to 81,200 millionaires, 237 individuals with fortunes exceeding $100 million, and 20 billionaires, making it the fastest climber in the annual ranking.

Dubai recorded a 102% growth in the number of wealthy individuals over the past decade, outperforming most cities worldwide.

The report data showed continued growth in wealth across Asia and the Middle East, with cities like Riyadh recording a 65% increase in the number of wealthy individuals and Abu Dhabi seeing an 80% rise, highlighting the region's transformation into a global hub for capital.

The report highlighted the rise of Chinese cities such as Shenzhen, which ranked 28th after recording the highest global millionaire growth at 142%, and Hangzhou, which came in 35th with a millionaire growth of 108%.

In contrast, London declined to 6th place from 5th, with the number of millionaires dropping by 12% over the past decade to record 215,700. Meanwhile, Moscow maintained its presence on the list, despite a significant drop to 40th place, with a 25% decrease in millionaires.

Looking ahead, the report predicted that cities like Dubai, Abu Dhabi, and Delhi would experience growth exceeding 100% in the number of ultra-wealthy individuals (those with $100 million or more) over the next ten years, supported by investment residency programs and favorable tax policies in some countries.

Although no African or Central American city appeared in the list of the top 50 wealthiest cities, the report noted several emerging cities in Africa where the number of ultra-wealthy individuals is expected to double in the next decade. These include South Africa’s Cape Town (34 individuals), Morocco’s Marrakech (14 individuals), and Kenya’s Nairobi (10 individuals).