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Mumbai, Delhi ranked among top 50 wealthiest cities in the world

New York City took the top spot, followed by The Bay Area, Tokyo, and Singapore

Mumbai, Delhi ranked among top 50 wealthiest cities in the world
[Source photo: Chetan Jha/Press Insider]

Mumbai and Delhi are among the world’s 50 wealthiest cities, with New York City taking the top spot, a global consultancy said.

With over $3 trillion dollars in total wealth, New York City ranked as the world’s wealthiest city, according to Henley & Partners’ 2024 World’s Wealthiest Cities Report. 

The city surpassed most G20 countries and boasts 349,000 millionaires, 744 centi-millionaires, and 60 billionaires. 

Mumbai and Delhi ranked 24 and 37 in the top 50 list, respectively. 

Dubbed as India’s financial capital, Mumbai hosts 58,800 millionaires, 236 centi-millionaires, and 29 billionaires. The city has also witnessed an impressive 82% growth in the high-net-worth-individual (HNWI) population in the last 10 years. 

Meanwhile, 30,700 millionaires, 123 centi-millionaires, and 16 billionaires reside in Delhi, which recorded an HNWI population growth rate of 95% in the same time period. 

Eleven of the top 50 wealthiest cities are in the United States, including Los Angeles which ranked at number 6 on the list.

The Bay Area in California has observed a millionaire population growth surge of 82% in a decade, and is now home to 305,700 millionaires. The Bay Area ranked second on the list, surpassing Tokyo which held the top spot a decade ago.

Tokyo has seen a decline in its HNWI population, dropping to third place with 298,300 millionaires. Meanwhile, Singapore has climbed the ranks to fourth, fueled by a 64% increase in millionaires over ten years. With its business-friendly environment, according to the report, and high net-worth migration of 3,400 HNWIs in 2023 alone, the city-state is poised to become Asia’s wealthiest city, potentially unseating Tokyo. 

Once the world’s wealthiest cities, London has tumbled to fifth place with 227,000 millionaires, marking a 10% decline over a decade. 

Los Angeles, on the other hand, has thrived as its millionaire population has surged 45%, propelling it to sixth place with 212,100 millionaires.

Mainland Europe’s wealthiest city, Paris, holds steady at seventh with 165,000 millionaires. 

Meanwhile, Sydney surges to eighth place, boasting 147,000 HNWIs after impressive wealth growth over the past two decades.

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