In our increasingly global society, millionaires can be found just about anywhere.
However, according to a recent study by international wealth migration specialists Henley and Partners, the U.S. continues to lead the way in terms of resident millionaires (defined as those with liquid investable wealth of $1 million or more), placing 11 cities in the top 50, including New York City, which sits firmly in first place. A staggering 349,500 millionaires, 744 centi-millionaires (with investable wealth of over $100 million) and 60 billionaires live in the Big Apple.
Hot on its heels in second place is California’s Bay Area (encompassing the city of San Francisco and Silicon Valley.) The Bay Area has grown its millionaire population by a whopping 82% over the past decade, one of the world’s highest growth rates over that period. It is now home to 305,700 millionaires, 675 centi-millionaires and 68 billionaires.
While the biggest U.S. cities round out the top five, smaller ones, like Dallas, Seattle, Austin and Miami all boast millionaire growth rates over 70%. The report also listed three more U.S. cities to watch because of their astronomical millionaire growth rates over the past decade: Scottsdale, Ariz. (102%); Greenwich and Darien, Conn. (84%); and Palm Beach and West Palm Beach, Fla. (93%).
Here are the 11 cities in the United States with the most resident millionaires: