Anyone who has ever taken a stroll around Santa Monica or driven through Beverly Hills can tell you that Los Angeles is home to the rich and famous—and the annual World’s Wealthiest Cities Report from Henley & Partners can officially confirm that.
The yearly survey ranks the 50 wealthiest cities around the world, and Los Angeles lands in fifth place. Three other American cities cracked the top 10, including New York, the Bay Area and Chicago.
The global ranking is “the definitive guide to city wealth,” published annually by Henley & Partners in partnership with wealth intelligence firm New World Wealth. The report identifies exactly where all of those mythical millionaires and billionaires apparently live throughout the globe and provides a comprehensive review of the 50 wealthiest cities in the world, with “expert insights on economic mobility, prime property, the investment migration sector and wealth management.”
The researchers specifically pointed out that Los Angeles is now home to 516 centimillionaires, people whose net worth exceeds $100 million, and 45 billionaires.
“The centimillionaires are arguably the most important wealth band when it comes to wealth creation due to the large percentage of entrepreneurs in this segment,” reads the report. “It is worth noting that most of the companies on the Fortune 500, S&P 500, FTSE 100 and Nikkei 225 were started by individuals who went on to become centi-millionaires.”
Between 2014 and 2024, Los Angeles saw its millionaire population grow by 35 percent, an increase that knocked London out of its previous fifth place ranking. The UK capital was one of only two cities, along with Moscow, that saw its number of millionaires decline.
Ten wealthiest cities in the world:
- New York
- The Bay Area
- Tokyo
- Singapore
- Los Angeles
- London
- Paris
- Hong Kong
- Sydney
- Chicago