Most Billionaires by City 2024

Economics & FinanceApril 17, 2026

Have you ever wondered where the world’s richest people live? The answer is just a handful of cities, each with its own financial story. This infographic spotlights eighteen cities with the most wealth. Each number reflects power, ambition, and the rapid pace of capitalism. We looked into the data so you don’t have to. What we found is not just impressive; it’s truly surprising.

1. New York City, United States — 109 Billionaires

Let’s begin with New York City, which leads this list. With 109 billionaires living there, New York has been number one for 11 of the past 12 years, except for a brief period when Beijing took the top spot in 2021. This long run at the top shows a structural advantage that is part of American capitalism.

The combined net worth of New York’s billionaires is about $759 billion, which is more than the GDP of most countries. Sixty-eight of these billionaires earned their wealth in finance and investment, 13 in real estate, and 12 in fashion and retail. Wall Street is a major driver of global capital, and the New York Stock Exchange has represented tens of trillions of dollars in market value over the years.

Michael Bloomberg, the city’s former mayor, is the wealthiest New Yorker with a net worth of over $109 billion, earned through his company Bloomberg LP. Other notable billionaires include Julia Koch, Stephen Schwarzman, and the Wertheimer brothers, who own Chanel. New York also has the world’s largest known gold repository, located in the Federal Reserve Bank’s vault 80 feet underground.

New York City has held the title of the top billionaire city for 11 of the last 12 years.
The city’s 109 billionaires collectively hold approximately $759 billion in net worth.
Finance and investment account for 68 of New York’s billionaires.
Michael Bloomberg, worth over $109 billion, is New York’s wealthiest individual.
The Federal Reserve Bank of New York holds the world’s largest gold repository, with 497,000 gold bars stored 80 feet underground.

2. Hong Kong, China (Hong Kong SAR) — 74 Billionaires

Hong Kong stands out for its high concentration of wealth. In just 1,106 square kilometers, it is home to 74 billionaires, making it the second-wealthiest city on this list. With a population of about 7.5 million, the density of billionaires is remarkable. In areas like Central or The Peak, you are closer to a billionaire than in most places in the world.

Hong Kong’s wealth is rooted in trade and finance. For decades, it has been a gateway between East and West, allowing capital to move freely and supporting a very expensive real estate market. The total wealth of Hong Kong’s billionaires reached about $418.6 billion in early 2026, a 24.8% increase from the previous year. This growth shows the city’s resilience, even as political changes affect its identity. The city is home to 154,900 millionaires in total, and though its overall millionaire ranking has slipped, its concentration of billionaires remains intense. Industries like real estate, logistics, banking, and retail have minted fortunes here. Hong Kong remains one of Asia’s most economically free and dynamic cities.

Hong Kong packs 74 billionaires into just 1,106 square kilometers.
The total wealth of Hong Kong’s billionaires rose to approximately $418.6 billion in 2026 — a 24.8% increase year-over-year.
The city is home to an estimated 154,900 millionaires.
Hong Kong’s wealth is rooted in trade, finance, real estate, and its historic role as an East-West economic bridge.
Despite political changes, Hong Kong remains one of Asia’s most commercially active and billionaire-dense cities.

3. Moscow, Russia — 73 Billionaires

Moscow stands out on this list. With 73 billionaires, Russia’s capital is known for fortunes built in unusual and sometimes unclear ways. After the Soviet Union collapsed in the 1990s, state-owned assets were quickly privatized, and a few well-connected people acquired major companies at low prices. That’s how the Russian oligarchs came to be.

The combined wealth of Russian billionaires reached a record $625.5 billion in 2025, surpassing even the pre-Ukraine invasion peak of $606.2 billion. The number of billionaires in Russia grew from 125 to 146 in a single year. Moscow-based tycoons lead the pack — from Vagit Alekperov of Lukoil, worth an estimated $28.7 billion, to Alexei Mordashov and his family at Severgroup. The city’s wealth is overwhelmingly tied to energy, metals, and finance — industries where political connections have historically mattered as much as business acumen.

Geopolitics has a big impact on Moscow’s billionaires. Sanctions, asset freezes, and blocked bank accounts are common, but official reports show their wealth keeps growing. Moscow proves that making and keeping wealth can be very different, and the rules for both can change a lot from city to city.

Moscow’s billionaires represent fortunes built largely through post-Soviet privatization of energy, metals, and finance.
Russian billionaire wealth hit a record $625.5 billion in 2025, exceeding pre-Ukraine invasion highs.
Russia’s total number of billionaires rose from 125 to 146 in a single year.
Vagit Alekperov of Lukoil leads Russian billionaires, with an estimated net worth of $28.7 billion.
International sanctions and asset seizures have made Moscow’s ultra-wealthy among the most politically scrutinized on Earth.

4. Mumbai, India — 69 Billionaires

Mumbai, a city of 20 million, is famous for its busy streets, monsoon rains, and Bollywood. Despite these challenges, it’s one of the world’s top cities for creating billionaires. With 69 billionaires, Mumbai is the heart of Indian capitalism, where ambition has built some of this century’s most famous fortunes. India is home to approximately 212 billionaires, and a massive chunk of that wealth is concentrated in Mumbai. The Ambani family — with Mukesh Ambani’s Reliance Industries empire spanning petrochemicals, retail, and telecommunications — is the most prominent symbol of Mumbai’s capacity to generate extraordinary wealth.

Mumbai is home to the Bombay Stock Exchange, one of Asia’s oldest, and to a financial services ecosystem that has grown dramatically in the digital era. The city gained 13 new billionaires in a single year at one point, a pace of wealth creation that put it on par with the fastest-growing global hubs. Mumbai’s story reflects India’s wider economic changes. The city’s wealth is not just from old industries, but also from technology, pharmaceuticals, retail, and media. Mumbai is among the top cities for billionaire birthplaces, and as India’s economy grows, its importance on this list is likely to increase.

Mumbai is home to 69 billionaires, making it the leading billionaire hub in India and South Asia.
India has approximately 212 billionaires — the third-highest total in the world, behind the US and China.
Mumbai added 13 new billionaires in a single year, one of the fastest growth rates among cities globally.
The Bombay Stock Exchange, one of Asia’s oldest, anchors Mumbai’s role as India’s financial capital.
Mumbai ranks among the top cities globally for billionaire birthplaces, reflecting its deep entrepreneurial culture.

5. Beijing, China — 63 Billionaires

Beijing is China’s political capital, where the Communist Party sets the rules. But it’s also home to 63 billionaires. The close link between politics and business in modern China helps explain this. In Beijing, access to key officials, state banks, and regulators can decide whether a company succeeds or fails. Beijing’s billionaire ecosystem is dominated by technology and internet companies. ByteDance, the parent of TikTok, is headquartered here. So are several of China’s largest internet platforms, AI firms, and media companies. Beijing briefly held the title of world’s top billionaire city in 2021, a moment that captured global attention and signaled just how dramatically China’s tech sector had grown. The city’s 114,300 millionaires represent a broad base of wealth, though the pace of growth has slowed somewhat in recent years as regulatory crackdowns on the tech sector hit certain fortunes hard.

The US and China have the largest billionaire populations in the world, with 934 and 517, respectively. Beijing shows both the ambition and the complexities of Chinese capitalism, where great wealth is created within a political system that can quickly change the rules about who can be wealthy and how.

Beijing is home to 63 billionaires, and the city briefly held the title of the world’s top billionaire city in 2021.
China, as a country, has 517 billionaires — second only to the United States, which has 934.
Beijing’s billionaire class is dominated by technology, internet, and media companies.
The city has approximately 114,300 millionaires, though growth has moderated after regulatory actions targeting the tech sector.
Political proximity gives Beijing’s wealthy unique advantages — and unique risks — not found in purely market-driven cities.

6. London, United Kingdom — 62 Billionaires

London is both a financial powerhouse and a city facing challenges. It is home to 62 billionaires, the world’s second-largest stock exchange, and a large pool of international capital. However, London has lost millionaires over the past decade, with a 12% decline since 2014, making it one of only two top wealth cities with negative growth in this area.

Despite these challenges, London still has 62 billionaires with a combined net worth of about $330.9 billion. The city added nine new billionaires in the latest Forbes count. London remains a global center for finance, fashion, media, real estate, and the arts. Its billionaire population is very international, attracting people from Russia, the Middle East, Asia, and the US, who value its culture, schools, and legal system.

London’s experience shows what happens when a major city faces challenges like Brexit, tax changes, and shifting global financial trends, but still remains an important center for wealth.

London is home to 62 billionaires with a combined net worth of approximately $330.9 billion.
The city is one of only two Top 50 global wealth hubs to see negative millionaire growth over the past decade, declining by 12%.
Despite headwinds, London rebounded, adding 9 new billionaires in a single year.
London’s billionaire base is among the most internationally diverse, drawing wealth from Russia, the Middle East, Asia, and the Americas.
The city remains a global hub for finance, luxury, media, and world-class education, maintaining its pull on the ultra-wealthy.

7. Shanghai, China — 54 Billionaires

Beijing may be China’s political center, but Shanghai is its financial hub. With 54 billionaires and a lively financial sector, Shanghai is at the heart of Chinese capitalism. The city’s famous Bund, where historic banks stand next to modern skyscrapers, shows how old and new wealth mix in Shanghai.

Shanghai’s billionaires come from manufacturing, real estate, finance, and increasingly technology and e-commerce. The city is home to the Shanghai Stock Exchange, one of the world’s largest, and many major Chinese companies. Shanghai has 110,500 millionaires, though this number has decreased recently due to economic changes. The city also operates the world’s busiest container port, making it a key global economic center. The combined billionaire wealth concentrated in Shanghai is approximately $161.4 billion, reflecting the city’s role as China’s financial capital and its ongoing ambition to become a truly global financial center on par with New York and London.

Shanghai is home to 54 billionaires with a combined net worth of approximately $161.4 billion.
The city hosts the Shanghai Stock Exchange, one of the world’s largest by market capitalization.
Shanghai has approximately 110,500 millionaires, reflecting a broad wealth base.
Shanghai operates the world’s busiest container port, generating enormous commercial flows of wealth.
China’s three cities in the top ten — Beijing, Shanghai, and Shenzhen — collectively underscore China’s rise as a billionaire superpower.

8. Singapore — 52 Billionaires

Singapore is a standout example of economic growth. In under 60 years, this small city-state has gone from a developing port to one of the world’s wealthiest places per capita, with 52 billionaires and 242,400 millionaires. Its success comes from strong governance, a great location, low taxes, strict laws, and a focus on being Southeast Asia’s financial center.

In 2025, Singapore’s billionaires had a combined net worth of $258.8 billion, a 66.4% increase in one year. This rapid growth is attracting more wealth from across Asia, as entrepreneurs and wealthy families from China, India, and other countries look for a stable and respected base. Eduardo Saverin, Facebook’s co-founder, moved to Singapore, reflecting this trend of global wealth coming to the city. Singapore is also one of the world’s top destinations for migrating millionaires, with 3,400 high-net-worth individuals relocating to the country in 2023 alone. Sixty-six percent of Singapore’s billionaires are self-made, not inheritors of wealth — a statistic that speaks volumes about the city’s dynamism and opportunities.

Singapore’s 52 billionaires have a combined net worth of $258.8 billion, which surged 66.4% in just one year.
The city-state has 242,400 millionaires, making it the fourth-wealthiest city globally by that measure.
Singapore attracted 3,400 high-net-worth individuals through migration in 2023 alone.
Eduardo Saverin, Facebook co-founder worth $43 billion, exemplifies Singapore’s appeal to global tech wealth.
66% of Singapore’s billionaires are self-made, reflecting a culture of entrepreneurship and meritocracy.

9. San Francisco, United States — 50 Billionaires

San Francisco and Silicon Valley are closely connected, especially when it comes to wealth. The Bay Area has been at the heart of the tech revolution, creating huge fortunes. There are 50 billionaires in San Francisco and 56 in the wider Silicon Valley area, making this the world’s most concentrated tech-wealth region. The nine richest billionaires in Silicon Valley alone hold 15 times more liquid wealth ($150 billion) than the entire region’s half of its population combined ($10 billion for 447,000 households). Names like Mark Zuckerberg, Sergey Brin, Larry Page, Jensen Huang, and Laurene Powell Jobs are all based in this corridor.

The Bay Area has 342,400 millionaires and has seen a 98% growth in its millionaire population over the past decade, making it one of the fastest-growing wealth hubs in the world. And yes, some of that wealth is beginning to migrate toward Texas and Florida in response to California’s proposed 5% wealth tax on billionaires — but the gravitational pull of the Bay Area’s talent, capital, and innovation ecosystem is extraordinarily hard to replicate. San Francisco’s tech wealth is highly concentrated. Within 80 kilometers, you can find the headquarters of Apple, Google, Meta, Nvidia, and many other large technology companies. This level of concentration is unique.

San Francisco is home to 50 billionaires, with Silicon Valley broadly accounting for 56 billionaires and 145,000 millionaires.
Silicon Valley’s nine richest billionaires hold 15 times more liquid wealth than the combined wealth of half of the region’s households.
The Bay Area has seen 98% growth in its millionaire population over the past decade — one of the fastest in the world.
Tech founders, including Zuckerberg, Brin, Page, and Jensen Huang (Nvidia), are part of the Bay Area’s elite billionaire class.
California’s proposed 5% wealth tax is prompting some billionaires to relocate to Florida and other states.

10. Delhi, India — 43 Billionaires

Delhi is India’s political capital and is quickly becoming a major economic center. With 43 billionaires, the National Capital Region has built one of South Asia’s most active business scenes. Delhi’s wealth comes from many industries, including government-linked businesses, manufacturing, pharmaceuticals, real estate, and a growing startup sector.

The city’s millionaire count stands at approximately 31,200, according to recent wealth reports, and Delhi has seen an 82% growth rate in its millionaire population over the past decade, placing it among the fastest-growing wealth hubs globally. India’s rapid economic development, its massive domestic consumer market, and the expansion of digital infrastructure have all contributed to Delhi’s rise as a wealth magnet. The city’s proximity to political power in India — home to Parliament, the Supreme Court, and the headquarters of virtually every major government ministry — creates unique advantages for entrepreneurs navigating the complex terrain of Indian business regulation.

Delhi is home to 43 billionaires, making it the second-largest Indian city by billionaire count after Mumbai.
The city has approximately 31,200 millionaires.
Delhi’s millionaire population has grown by 82% over the past decade, ranking among the top 10 fastest-growing cities globally in terms of wealth.
India’s status as the world’s fifth-largest economy and third-largest billionaire country underpins Delhi’s wealth growth.
Delhi’s proximity to India’s political center creates unique advantages for business and wealth creation.

11. Shenzhen, China — 37 Billionaires

Shenzhen is a striking example of wealth creation. Forty years ago, it was a fishing village of about 30,000 people near Hong Kong. Now, it has 17 million residents and 37 billionaires. According to the Henley & Partners World’s Wealthiest Cities Report, Shenzhen’s millionaire population has grown by 142% in the past decade, making it the world’s fastest-growing wealth hub.

Shenzhen is often called China’s Silicon Valley and is home to companies like Tencent, BYD, DJI, and ZTE, as well as many other tech and electronics firms. The city has 50,800 millionaires, including 156 people with $100 million or more. Most of Shenzhen’s billionaires are entrepreneurs who built their companies from the ground up in special economic zones created by the Chinese government to encourage this kind of growth.

Shenzhen has the world’s fastest-growing millionaire population, up 142% over the past decade.
The city transformed from a fishing village of 30,000 to a megalopolis of 17 million within 40 years.
Shenzhen is the headquarters of Tencent, BYD, DJI, and ZTE — some of China’s most globally significant tech companies.
The city has 50,800 millionaires, including 156 centi-millionaires.
Shenzhen’s billionaires are primarily self-made entrepreneurs in tech, electronics, and manufacturing.

12. Los Angeles, United States — 35 Billionaires

Many people picture LA billionaires as Hollywood moguls, but Los Angeles is much more than that. With 35 billionaires, LA is a diverse wealth center where technology, finance, biotech, real estate, and entertainment all play a part. The city has 220,600 millionaires and recently passed London to become the fifth-largest city by millionaire count.

LA’s billionaire class includes names like Patrick Soon-Shiong in biotech, Michael Milken in finance, and John Tu, who co-founded Kingston Technology — a global memory giant built not in Silicon Valley but in Fountain Valley, Southern California. Private equity powerhouses like Tom Gores and Anthony Resler have given Los Angeles serious financial muscle beyond entertainment.

Meanwhile, the entertainment industry — studios, streaming platforms, talent agencies, and music empires — continues to produce genuine wealth at the top of the pyramid, with veterans like David Geffen owning estates worth hundreds of millions. There is uncertainty in Los Angeles due to California’s proposed 5% wealth tax. This has already led at least one billionaire to move to Nevada, and some tech leaders are buying property in Florida. It remains to be seen if LA can keep its billionaire residents as tax policies change.

Los Angeles is home to 35 billionaires and 220,600 millionaires, recently overtaking London in the number of millionaires.
LA’s wealth extends well beyond Hollywood into biotech, private equity, real estate, and hardware tech.
John Tu of Kingston Technology, Tom Gores of Platinum Equity, and Patrick Soon-Shiong are among LA’s most prominent billionaires.
California’s proposed 5% billionaire wealth tax is prompting some of LA’s wealthiest to consider relocating.
The city’s entertainment industry remains a meaningful wealth generator at the very top of the income pyramid.

13. Taipei, Taiwan — 34 Billionaires

Taipei has become a major center for wealth, mainly thanks to its role in the global semiconductor industry. Taiwan is at the heart of the world’s chip supply chain, which has created huge fortunes. With 34 billionaires, Taipei is now one of the world’s key wealth capitals, even if it’s less famous than cities like New York or Hong Kong.

Taiwan Semiconductor Manufacturing Company (TSMC), founded by the legendary Morris Chang, produces the most advanced chips on Earth and serves virtually every major technology company worldwide. The AI boom of the past two years has been extraordinarily good to Taiwan’s chip industry. The Taiex stock index rose nearly 33% over 14 months in the 2023–2024 cycle, pushing the cumulative wealth of Taiwan’s 50 wealthiest individuals to $174 billion. Barry Lam of Quanta Computer, which produces AI servers for Apple and Google, saw his wealth more than double. When AI runs, Taiwan’s billionaires get richer.

Taipei is home to 34 billionaires, with wealth closely tied to Taiwan’s dominant global semiconductor industry.
Taiwan’s 50 wealthiest individuals held a cumulative wealth of $174 billion, driven by the AI chip boom.
Taiwan Semiconductor Manufacturing (TSMC) is the world’s leading advanced chip producer and anchor of Taipei’s billionaire class.
The Taiex stock index rose nearly 33% over 14 months, directly expanding billionaire fortunes in Taipei.
Taiwan has an estimated 60 billionaires — a remarkable number for a territory of just 23 million people.

14. Hangzhou, China — 31 Billionaires

Hangzhou, in Zhejiang Province, is home to 31 billionaires and the birthplace of Alibaba. Jack Ma, once China’s richest person, built his company here, which helped many other digital entrepreneurs, investors, and suppliers become wealthy too. Hangzhou’s millionaire population has grown by 108% over the past decade, the second-fastest rate in the world after Shenzhen. The city’s billionaires have a combined wealth of about $195.9 billion. Companies like Alibaba, Ant Group, and many e-commerce and logistics firms have made Hangzhou a very active commercial center in China. This shows that billionaires can come from less well-known cities if the conditions are right.

Hangzhou is home to 31 billionaires and was the birthplace of Alibaba, one of the world’s largest companies.
The city’s combined billionaire wealth is approximately $195.9 billion.
Hangzhou’s millionaire population has grown 108% over the past decade — second-fastest in the world.
Alibaba, Ant Group, and China’s e-commerce supply chain ecosystem are the primary drivers of wealth.
Hangzhou represents how secondary cities in China have become world-class wealth creators in their own right.

14 (Tied). Seoul, South Korea — 31 Billionaires

Seoul also has 31 billionaires, but its story is different from Hangzhou’s. In South Korea’s capital, large family-owned conglomerates called chaebol, such as Samsung, Hyundai, LG, SK Group, and Lotte, have dominated the economy for generations. The founders and top executives of these companies make up most of Seoul’s billionaire population.

Jay Y. Lee of Samsung leads the Korean billionaire pack with $11.5 billion, though Samsung’s story has been complicated by high-profile legal battles and colossal inheritance tax obligations the family has faced. South Korea’s benchmark Kospi index rebounded 11% in 2024, fueled by investor enthusiasm for AI and the government’s $470 billion public-private plan to establish the country as a global chip production hub — a plan that, if successful, could significantly expand Seoul’s billionaire class in the coming years. K-pop and K-drama have also been surprisingly good for wealth creation, with entertainment executives like Bang Si-hyuk of HYBE (the company behind BTS) now counted among the ranks of billionaires.

Seoul is home to 31 billionaires, with wealth concentrated in its giant chaebol conglomerates.
Jay Y. Lee of Samsung leads Seoul’s billionaire class with a net worth of $11.5 billion.
South Korea’s government announced a $470 billion public-private plan to make the country a global semiconductor hub.
K-pop executive Bang Si-hyuk of HYBE, the company behind BTS, is among Seoul’s billionaires.
The Kospi stock index rose 11% in 2024, adding to the collective wealth of South Korea’s richest.

16. Paris, France — 28 Billionaires

Paris stands out on this list. With 28 billionaires, the French capital doesn’t have the most billionaires, but it has some of the wealthiest per capita. Paris’s billionaires have a combined wealth of about $462.6 billion, second only to New York. This is mostly thanks to Bernard Arnault, the founder of LVMH, who is often the world’s richest person and lives in Paris. Paris’s 28 billionaires are mainly connected to the luxury goods industry, which is unique among cities. More than 25 Fortune Global 500 companies, such as Danone, Sanofi, and Christian Dior, are based in Paris. The city has 160,100 millionaires and is one of Europe’s main financial and commercial centers. France has 80 billionaires in total, with most of their wealth centered in Paris.

Paris is home to 28 billionaires with a combined wealth of approximately $462.6 billion, second only to New York City’s total.
The luxury goods sector, anchored by Bernard Arnault’s LVMH, drives Paris’s outsized wealth, as reflected in its billionaire count.
More than 25 Fortune Global 500 companies are headquartered in Paris.
Paris has 160,100 millionaires, maintaining its rank as one of Europe’s premier wealth cities.
France is home to 80 billionaires, with Paris as the undisputed hub of French wealth.

17. Tokyo, Japan — 27 Billionaires

Tokyo is, in some ways, the world’s largest metropolitan economy, with a metro GDP of about $2.55 trillion, slightly more than New York’s. It has 290,300 millionaires, one of the highest numbers in Asia, but only 27 billionaires. One reason is Japan’s very high inheritance tax, which reaches 55%, making it harder to pass on large fortunes and leading some wealthy people to keep assets outside Japan.

Tokyo’s 27 billionaires include Tadashi Yanai of Uniqlo — the global fashion empire whose parent company Fast Retailing is one of the world’s most valuable apparel brands — and Masayoshi Son, the founder of SoftBank and one of the world’s most audacious technology investors. Sony, Honda, Hitachi, and Mitsubishi all maintain headquarters in Tokyo, underpinning a corporate ecosystem of exceptional depth. The Nikkei 225’s strong recovery over the past two years has also been adding to billionaire wealth, and Tokyo’s status as Asia’s wealthiest city by millionaire count remains rock solid.

Tokyo has 27 billionaires but 290,300 millionaires — one of the highest concentrations of millionaires in Asia.
Japan’s 55% inheritance tax — one of the world’s highest — compresses intergenerational wealth and limits the formation of billionaires.
Tokyo’s metro economy of approximately $2.55 trillion is among the world’s largest, slightly edging New York’s.
Tadashi Yanai (Uniqlo) and Masayoshi Son (SoftBank) are among Tokyo’s most prominent billionaires.
Sony, Honda, Hitachi, and Mitsubishi all maintain global headquarters in Tokyo.

18. Bangkok, Thailand — 26 Billionaires

Bangkok may be unexpected on this list. Although Thailand is not usually associated with billionaires, its capital has 26, more than many European capitals. This is mainly due to a few large family-owned conglomerates that have led the Thai economy for generations, especially the Charoen Pokphand Group. CP Group, founded in Bangkok in 1921 by the Chia brothers — immigrants from China’s Chaozhou region who started by selling vegetable seeds — has grown into one of the largest conglomerates in the world, with annual revenues of approximately $85 billion spanning agriculture, retail, telecommunications, and finance.

The Chearavanont family, which controls CP Group, is Thailand’s richest family with assets worth over 958 billion baht (more than $30 billion). CP Group operates 15,245 7-Eleven stores across Southeast Asia — second only to Japan in store count — and is the world’s largest producer of feed and shrimp, and one of the top three producers of poultry and pork. Beyond CP, Bangkok hosts billionaires from banking, real estate, energy, and the country’s growing tech sector.

Bangkok is home to 26 billionaires, anchored by some of Southeast Asia’s most powerful family conglomerates.
CP Group generates approximately $85 billion in annual revenue across 21 countries.
The Chearavanont family behind CP Group is Thailand’s richest, with assets exceeding $30 billion.
CP Group operates 15,245 7-Eleven stores in Southeast Asia — the second-largest 7-Eleven network in the world.
Bangkok’s billionaire class spans agriculture, retail, banking, real estate, and telecommunications.

18 (Tied). Milan, Italy — 26 Billionaires

Milan brings together European fashion, finance, and industry, and its 26 billionaires are among the most established in the world. Unlike cities built on resources or technology, Milan’s wealth comes from craftsmanship, branding, design, and the global demand for Italian luxury goods. The city’s fashion houses, design studios, and luxury manufacturers create products that are highly valued worldwide.

Italy has 80 billionaires, and Milan accounts for a substantial share of them. The city has 115,000 millionaires — a number that has actually been climbing while other major European cities stagnate — and the Milan metropolitan area has been moving up global wealth rankings. Italy’s luxury goods sector, including brands like Armani, Versace, Dolce & Gabbana, and Pirelli, keeps Milan relevant as a wealth creator, transcending fashion seasonality. The city also has a significant private banking and financial services sector, and its stock exchange — Borsa Italiana — connects Italian corporate wealth to global capital markets.

Milan is home to 26 billionaires and approximately 115,000 millionaires, with Milan’s wealth growing amid European stagnation.
Italy, as a country, hosts 80 billionaires, with Milan as the primary concentration.
Milan’s wealth is anchored in luxury goods, fashion design, and high-end manufacturing rather than tech or finance alone.
Global brands including Armani, Versace, and Dolce & Gabbana maintain creative and commercial roots in Milan.
Milan’s Borsa Italiana connects Italian corporate wealth to international capital markets.

20. Dallas, United States — 24 Billionaires

Dallas rounds out the top 20, with 24 billionaires and a combined wealth of about $122.5 billion. It’s become one of America’s most active wealth centers, thanks to industries like energy, real estate, private equity, and a growing, diverse economy. Dallas has also attracted many companies moving from states with higher taxes.

Texas does not have a state income tax, making Dallas and the state attractive to wealthy people, companies, and startups. The Dallas-Fort Worth area has been one of the fastest-growing metro regions in the US for over ten years, leading to more wealth for local business leaders. Dallas’s millionaire population has grown by 85% in the past decade, ranking it among the world’s fastest-growing wealth cities. Industries like oil, real estate, banking, retail, and technology have helped create a younger, more entrepreneurial group of billionaires compared to the East Coast.

Dallas is home to 24 billionaires with a combined wealth of approximately $122.5 billion.
Texas has no state income tax, making Dallas one of America’s most attractive cities for wealthy individuals and corporate relocations.
Dallas’s millionaire population has grown by 85% over the past decade, one of the top 10 fastest-growing millionaire populations globally.
Energy, real estate, private equity, and retail are the primary drivers of Dallas billionaire wealth.
The Dallas-Fort Worth metroplex has been one of America’s fastest-growing major metro areas for over a decade.

The Bigger Picture: What These 20 Cities Tell Us

Step back from the individual city stories for a moment and look at what this infographic actually shows. Out of 8 billion people on Earth, roughly 3,000 billionaires live in hundreds of cities across the globe. But nearly 25% of those billionaires — and a disproportionate share of their combined $3.3 trillion in wealth — are concentrated in just the top 10 cities alone. The top 20 on our list amplify that concentration further.

The United States places five cities in the top 20 (New York, San Francisco, Los Angeles, Dallas, and counting the broader rankings), while China claims four (Beijing, Shanghai, Shenzhen, and Hangzhou). India contributes two (Mumbai and Delhi). That distribution tells you almost everything you need to know about where global capitalism is thriving and where the next generation of extreme wealth will likely be minted.

The combined wealth of the world’s billionaires reached approximately $18.9 trillion in recent counts. To put that in human terms: that’s a number large enough to fund the entire US federal government for more than three years. These 20 cities are where much of that wealth lives, breathes, and generates more of itself every single day. Understanding where billionaires concentrate — and why — isn’t just an exercise in economic curiosity. It’s a map of where the world’s most consequential decisions about capital, investment, and power are being made.