The current list of cities where the most millionaires and billionaires in the world live has been published. Five of the 20 cities on this list are in the United States.

Where do most millionaires and billionaires live?

 

City

The number of millionaires

The number of billionaires

1. New York (USA)

345,600

59

2. Tokyo (Japan)

304,900

12

3. San Francisco (USA)

276,400

62

4. London (United Kingdom)

272,400

38

5. Singapore

249,800

26

6. Los Angeles (USA)

192,400

34

7. Chicago (USA)

160,100

28

8. Houston (USA)

132,600

25

9. Beijing (China)

131,500

44

10. Shanghai (China)

130,100

42

11. Sydney (Australia)

129,500

16

12. Hong Kong

125,100

28

13. Frankfurt (Germany)

117,400

14

14. Toronto (Canada)

116,100

17

15. Zurich (Switzerland)

105,100

12

16. Seoul (South Korea)

102,100

25

17. Melbourne, Australia

97,300

12

18. Dallas (USA)

92,300

18

19. Geneva (Switzerland)

90,300

16

20. Paris (France)

88,600

15

Let's look more precisely at the first five cities on this list.

1. New York

It is the financial center of the United States and the city where many Fortune 500 companies are headquartered. 

You can buy an apartment (90 square meters) in New York City for an average of $800,000-1,200,000 (according to Numbeo).

2. Tokyo

The economic center of Japan, Tokyo, is home to the Tokyo Stock Exchange, Asia’s largest stock exchange by market capitalization. Tokyo is also home to many multinational companies, such as Honda and Sony.

An apartment (90 square meters) in Tokyo can be purchased for an average of $450,000 to $720,000 (according to Numbeo).

3. San Francisco

The San Francisco Bay Area is known as a mecca of technological innovation, and also as the region where the average family salary is the highest in the United States. 

A 90-square-meter apartment in San Francisco can be purchased for an average of $1,000,000 (according to Numbeo).

4. London

London has long been the richest city in the world, but in the last 10 years there have been fewer millionaires in the city, so its place on this list is no longer the first.

It is possible to buy an apartment (90 sq. m.) in London for an average of $720,000–1,250,000 (according to Numbeo).

«Apartment demand is declining, but prices are rising.» The expert on the state of the UK real estate market

5. Singapore

Singapore is the second-wealthiest city in Asia after Tokyo. Interestingly, more than 5% of families in Singapore have net financial assets of at least $1 million.

An apartment (90 sq m) in Singapore can be purchased for an average of $900,000—$1,800,000 (according to the service Numbeo).