Mumbai topped the list of wealthiest cities in India with 59,400 high-net-worth individuals (HNWIs), followed by Delhi, Bengaluru, Hyderabad, and Kolkata.
Meanwhile, the New York City (NYC) has been named the world's wealthiest city. It has staggering 58 billionaires. The city's HNWIs have increased by 40% between 2012 and 2022, allowing NYC to maintain its top ranking.
Tokyo and The Bay Area in California secured the second and third spots on the list. The Bay Area in California has the most billionaires in the world, with 63 living in the area around Silicon Valley and San Francisco. Hangzhou, China, experienced a 105 percent increase in HNWIs in the last 10 years, while Austin, Texas, came in second with a 102 per cent gain. Miami and West Palm Beach experienced an increase of 75 per cent and 90 per cent respectively.
The list of the world's wealthiest cities saw New York City, The Bay Area, Los Angeles, and Chicago from the United States make it to the top 10 cities. These cities have HNWIs with investable wealth over USD 1 million. Beijing and Shanghai from China, and London secured the fourth spot on the list.
Unfortunately, not all cities experienced an increase in wealth. Moscow and St. Petersburg saw a significant decline in the number of millionaires due to Russia's invasion of Ukraine. The number of millionaires fell by 44 per cent in Moscow and by 38 per cent in St. Petersburg.
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