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The United States is home to approximately 5.5 million wealthy people, accounting for 37% of the world’s billionaires.
The 2024 U.S. Wealth Report, published by global wealth advisory firm Henley & Partners in partnership with New World Wealth, reveals where money is concentrated in the U.S. by ranking the nation’s wealthiest cities. clarifies exactly what is happening. The report breaks down the number of HNWIs, millionaires (with annual incomes of $100 million or more), and billionaires among these wealthy groups.
According to the report, the number of billionaires in the United States has increased by 62% over the past decade.
Some of the usual suspects (New York, Los Angeles) made it to the top of the list, but there were also a few surprises. For example, No. 10 Austin, Texas, had the highest increase in millionaires from 2013 to 2023, at 110%. Although the Bay Area didn’t take the top spot, it is the region with the most billionaires.
Related: Are you battling burnout? People living in this US state have the best life-work balance.
Here are the top 10 wealthiest cities in America.
1. New York City
Credit: Getty Images
Millionaire: 349,500
centimillionaire: 744
Billionaire: 60
% growth in millionaires from 2013 to 2023: 48%
2. Bay Area
Millionaire: 305,700
centimillionaire: 675
Billionaire: 68
% growth in millionaires from 2013 to 2023: 82%
3. Los Angeles
Credit: Getty Images
Millionaire: 212,100
centimillionaire: 496
Billionaire: 43
Growth rate of millionaires from 2013 to 2023 %: 45%
4. Chicago
Millionaire: 120,500
centimillionaire: 290
Billionaire: 24
Growth rate of millionaires from 2013 to 2023 %: 22%
5. Houston
Millionaire: 90,900
centimillionaire: 258
Billionaire: 18
Billionaire growth % from 2013 to 2023: 70%
6. Dallas
Millionaire: 68,600
centimillionaire: 125
Billionaire: 15
Billionaire growth % from 2013 to 2023: 75%
7. Seattle
Credit: Getty Images
Millionaire: 54,200
centimillionaire: 130
Billionaire: 11
% growth in millionaires from 2013 to 2023: 72%
8. Boston
Millionaire: 42,900
centimillionaire: 107
Billionaire: 8
Growth rate of millionaires from 2013 to 2023 %: 55%
9. Miami
Millionaire: 35,300
centimillionaire: 164
Billionaire: 15
Growth rate of millionaires from 2013 to 2023 %: 78%
10. Austin
Credit: Getty Images
Millionaire: 32,700
centimillionaire: 92
Billionaire: 10
Growth rate of millionaires from 2013 to 2023 %: 110%
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