Top 5 American Cities With The Most Millionaires
The United States has long promoted itself as a bastion of free market capitalism, limitless personal potential, and a land of great wealth. Indeed America’s economy is by far the world’s largest, with an estimated Gross Domestic Product of 23 trillion dollars! Although much economic disparity continues to exist within the country, the USA ranks highly on lists of nations with the most millionaires, with a staggering 21 million millionaires! This article looks at the Top 5 American Cities with the most Millionaires.
1. New York City, New York - 345,600 millionaires
Not surprisingly, America’s largest city is home to the nation’s most millionaires, with some 345,600 across the Big Apple and its boroughs. According to data from the Henley Global Citizens Report (2022), New York City, has an astonishing 15,470 individuals who are considered multimillionaires, with some 59 considered billionaires. With these numbers, New York occupies not only the top of America’s list of millionaire cities but of the world. Indeed in this “City that never sleeps,” just walking down the street may mean you could be standing next to a multimillionaire!
2. San Francisco Bay Area, California - 276,400 millionaires
Including the cities of San Francisco, Oakland, and San Jose, the San Francisco Bay Area is, without a doubt, one of the most culturally and historically rich urban centers in the country. But it is also the home of 276,400 millionaires, of which 12,890 are multimillionaires. The Henley Global Citizens Report (2022) also reported 62 billionaires residing here, who largely have wealth related to the tech industry. Though Los Angeles is typically thought of first when discussing California wealth, the San Francisco Bay Area has some of the most luxurious and wealthiest neighborhoods and tenants in the entire State.
3. Los Angeles/Malibu, California - 192,400 millionaires
Though just under an hour’s drive separates LA and Malibu, the small portion of land between them houses an incredible 192,400 millionaires. Malibu, in particular, has long been a popular residence for those in the Hollywood film industry, and the beach city has many affluent neighborhoods. Additionally, data reported from the Henley Global Citizens Report (2022) shows some 8,590 multimillionaires residing in this area and 34 billionaires. Indeed the corridor between “The City of Angels” and “The ‘Bu” is one of the most densely populated areas of personal wealth in the country.
4. Chicago, Illinois - 160,100 millionaires
The third most populous city in America, behind only New York and Los Angeles, Chicago is a mosaic of rich cultural history. Home to some 2.7 million inhabitants, the “Windy City” also houses some 160,100 millionaires. With a robust and diverse economy, Chicago is indeed a land of opportunities, and its GDP has generated up to $700 billion! Headquarters of such companies as McDonald’s, Boeing, and Walgreens, 28 billionaires, further reside in the Chicago area, according to recent 2022 data.
5. Houston, Texas - 132,600 millionaires
Houston is Texas’ most populous city with 2.3 million residents and also rounds out the top five cities American cities with millionaires. Henley Global Citizens Report (2022) indicates some 132,600 individuals identifying as millionaires here, with 6,590 labeled as multimillionaires. A recognized center for the energy industry, in addition to biomedical research and aeronautics, Houston is a veritable global city whose Port is the fourth largest in the United States. In addition, 25 billionaires reside in the Houston Metropolitan Area.
Described as a haven for capitalism and unlimited personal potential, the United States has prided itself as the land of opportunity for two centuries. Today this mega superpower has much wealth, with an economy that is the largest in the world. Within, many wealthy and influential people reside, making it one of the top countries with the most multimillionaires. Though disparity between the rich and poor continues to be a prominent issue, an increasing number of Americans have entered the upper middle class.
