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- Seven of the ten cities with the most ultrawealthy residents are in the US.
- New York is the top city by ultrawealthy population, according to a new report.
- Other regions are gaining ground, and Oslo is the fastest-growing city for the ultrawealthy.
What do New York, Dallas, and Tokyo have in common? A lot of really rich people.
The ultrawealthy — meaning anyone worth more than $30 million — are concentrated in certain hotspots, with some 19% of them living in just 10 cities worldwide, according to a report by wealth intelligence firm Altrata.
New York comes out on top in terms of the number of ultrawealthy people, with 21,380, according to the report. Hong Kong is next, at 17,215, followed by Los Angeles.
The other top cities include San Francisco, Chicago, Tokyo, London, Dallas, Washington, DC, and Houston, in that order.
America doesn’t just dominate the list of top cities — 38% of the entire ultrawealthy population lives in the US, Altrata found. There were around 510,810 ultra-high net worth individuals globally by the end of June 2025, and the population has ballooned since Altrata began collecting its data in 2004, “outpacing the expansion of the global adult population by a factor of seven,” per the report.
Other regions are gaining ground on America, though, and no US city graced the list of the top 10 cities for ultrawealthy population growth. Oslo, Norway, Bengaluru, India, and Hyderabad, India took the top three spots for annual growth rate by 2030.
Altrata’s report also shed light on how the world’s richest people spend their money. They collectively spent $290 billion on luxury goods last year, with transportation making up the lion’s share. Luxury brands have zeroed in on the ultrawealthy in recent years, with companies catering to the wealthiest of the wealthy generally doing better than those with a broader audience.
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