Singapore records another milestone as investment firm Henley & Partners names the city-state as the fourth wealthiest city in the world this year.
With 244,800millionaires, 336 centi-millionaires, and 30 billionaires, Singapore has now surpassed London, which previously held the fourth spot on the list. It is also the second highest-ranking Asian city, following Tokyo, Japan, in third place.
According to the report, Singapore saw 64% millionaire growth from 2013 to 2023, with approximately 3,400 high-net-worth individuals (HNWI) moving to the city in 2023 alone. Henley & Partners also said that Singapore might be taking over Tokyo soon, which has suffered a 5% decline in millionaire growth for the last ten years.
Meanwhile, New York City leads the pack with 349,500 millionaires this year, holding its spot as the wealthiest city as last year.
Completing the top ten are The Bay Area in the United States at second, London coming in at fifth place, followed by Los Angeles, Paris & Île-de-France, Sydney, Hong Kong, and Beijing, respectively.
Henley & Partners’ World’s Wealthiest Cities list features exclusive data on cities with the most millionaires, centi-millionaires, and billionaires, along with insights from industry experts and leading academics.
To view the full list, click here.
