Whereas American cities like New York or the Bay Space nonetheless boast probably the most greenback millionaires in actual numbers, just a few locations have emerged as new hubs for the rich.
These cities have seen the most important enhance in greenback millionaires over the previous decade. They’re principally fast-growing centres of expertise and innovation. In the meantime, just a few additionally supply tax incentives to draw the rich.
That’s in accordance with the World’s Wealthiest Cities Report 2025, which is revealed by Henley & Companions, a agency that advises the rich on the place to maneuver to take care of their property.
1. Greatest enhance in millionaires: Shenzhen, China
Between 2014 and 2024, Shenzhen noticed a 142% enhance in greenback millionaires. The Chinese language metropolis is a serious expertise hub, with corporations like Huawei and Tencent based mostly there.
As soon as a country fishing village, Shenzhen is now the fastest-growing vacation spot for greenback millionaires. The expertise scene continues to draw entrepreneurs and financiers.
2. Scottsdale, USA
Most South Africans could not hear a lot about Scottsdale, however tech entrepreneurs and people with six-figure account balances will know all about it. The American metropolis’s millionaire inhabitants grew by 125% over the previous decade.
Like Shenzhen, Scottsdale’s attraction is its booming tech business. It additionally provides an opulent life-style, particularly in golf estates, and beneficial state tax situations.
3. Bengaluru: Fashionable with millionaires in India
It could possibly be a shock, however this Indian metropolis is fashionable with the very rich. Bengaluru, also called Bangalore, noticed a 120% enhance in greenback millionaires. That happened in simply ten years, between 2014 and 2024.
The town’s flourishing tech business, inexpensive dwelling prices, and rising infrastructure have made it a hotspot for the rich.
4. West Palm Seaside, USA
Over the previous decade, West Palm Seaside gained 112% extra greenback millionaires. This American metropolis provides the rich a laid-back life-style, due to its coastal location. As a result of the state of Florida has low taxes, businesspeople and wealthy professionals additionally flock to West Palm Seaside.
5. Hangzhou, China
108% extra millionaires now reside in Hangzhou, in comparison with ten years in the past. That development coincided with the rise of tech corporations within the metropolis, together with Alibaba. Hangzhou is a historic metropolis with fairly surroundings, making it much more enticing to the prosperous.
In the event you had been a greenback millionaire, which metropolis would you reside in?
Tell us by leaving a remark under or ship a WhatsApp to 060 011 0211.
Subscribe to The South African web site’s newsletters and comply with us on WhatsApp, Fb, X, and Bluesky for the newest information.
