One of the cities that gave the world the most billionaires from India
Cities with Max Millionaires: Residency advisory firm Henley & Partners Group annually releases a list of the cities with the largest number of billionaires. Ten such cities in the world, where the most billionaires live, three of them are from China. Two cities in America and one in India are included in this list.
The number of millionaires in the world is increasing year by year. In India too, the list of Dhankubers is getting longer. But, do you know in which cities the most millionaires in the world live? Half of the top 10 cities with the world's most millionaires are in the US.
According to a report by residency advisory firm Henley & Partners Group, New York, Tokyo and the San Francisco Bay Area are the places where the most millionaires live. Half of the top 10 cities with the most millionaires are in the United States. Still, a closer look at the data shows that New York City saw a 12 percent decrease in the number of millionaires in the first half of 2022, while the San Francisco Bay Area saw a 4% increase.
London ranked fourth on this list and saw a 9% drop in the number of millionaires. According to the report, millionaires are those who have investable personal wealth of one million dollars or more. Riyadh, the capital of Saudi Arabia and Sharjah, the third most populous city of the United Arab Emirates, have seen a rapid increase in the population of millionaires this year, data collected by intelligence firm New World Wealth showed.
Abu Dhabi and Dubai are also among the cities with the fastest growing millionaire population. The reason for this is the UAE's low-tax policy and new residence schemes that woo millionaires. The number of millionaires in the UAE has also increased due to the immigration of affluent Russians. Beijing and Shanghai, which rank ninth and tenth on the list of the wealthiest cities, respectively, have also reported a decline in the number of billionaires. Henley & Partners estimates that China will see the second largest money outflow this year, behind Russia.
Talking about India, according to the Hurun Global Rich List 2022, Mumbai has the largest number of billionaires in the country. The capital Delhi is second in terms of billionaires. This is the only city in India on the list which is on the list.
Houston (USA) has got the biggest increase among the cities with millionaires. The report also included the 25 fastest-growing cities. Saudi Arabia's Riyadh and UAE's Sharjah are the cities with the fastest growing millionaire population this year. Bangalore is also included in this list, where 12,600 people are millionaires.
According to the report, most millionaires in the world live in New York (USA). It is followed by Tokyo (Japan) and San Francisco Bay Area in third place. There are 6 US cities in the list of top 20 cities with the most millionaires in the world.
Dubai currently ranks 23rd, Mumbai 25th and China's Schengen 30th in terms of millionaires. These three fast-growing cities are likely to be in the top 20 by 2030. Another Henley report projected the 10 countries with the largest number of millionaires by 2031. According to the list, India, Australia and China will be on top respectively.
The number of millionaires in New York declined by 12 percent in the first half of 2022. Similarly, Tokyo also saw a decline of 8 percent, while the number of the wealthy in the San Francisco Bay Area increased by 4 percent. The list also includes two Chinese cities, Beijing (9th) and Shanghai (10th). Millionaires are defined in the report as having investable assets of $1 million (approximately eight crore rupees) or more.