Tracking where wealth develops and how quickly it grows is a way to understand the financial patterns of the world. Knowing where wealth thrives can aid you in growing your own; conversely, it can also indicate to you where you might be priced out if you’re not wealthy enough.
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A recent study by New World Wealth published by Henley & Partners broke down the fastest-growing wealth hubs throughout the globe, tracking cities that have had the greatest percentage of millionaire growth from 2014 to 2024. For instance, Shenzhen — the third most populous city in China, with a population of 17.5 million — has an extraordinary concentration of millionaires (approximately 50,800). That’s an incredible 142% level of millionaire growth for the metropolis, which is also home to at least 22 billionaires.
America is well-represented on the list of the world’s fastest-growing wealth hubs. Of the 20 cities listed below, eight are located in the United States: Scottsdale, Arizona; West Palm Beach, Florida; the San Francisco Bay Area; Miami; Washington, D.C.; Austin, Texas; Dallas; Houston. With three cities out of the eight, Texas is the most well-represented, likely due to the Lone Star State’s growing and prosperous tech community.
Curious just how many millionaires (and even billionaires) live in each of those cities? Keep reading to find out.
Also see how most rich Americans actually become millionaires.
Shenzhen, China
- Millionaire growth (2014 to 2024): 142%
- Number of millionaires: 50,800
- Number of billionaires: 22
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Scottsdale, Arizona
- Millionaire growth (2014 to 2024): 125%
- Number of millionaires: 14,800
- Number of billionaires: 5
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Bengaluru, India
- Millionaire growth (2014 to 2024): 120%
- Number of millionaires: 13,600
- Number of billionaires: 8
West Palm Beach, Florida
- Millionaire growth (2014 to 2024): 112%
- Number of millionaires: 11,500
- Number of billionaires: 10
Hangzhou, China
- Millionaire growth (2014 to 2024): 108%
- Number of millionaires: 32,200
- Number of billionaires: 12
Dubai, United Arab Emirates
- Millionaire growth (2014 to 2024): 102%
- Number of millionaires: 81,200
- Number of billionaires: 20
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San Francisco Bay Area
- Millionaire growth (2014 to 2024): 98%
- Number of millionaires: 342,400
- Number of billionaires: 82
Miami
- Millionaire growth (2014 to 2024): 94%
- Number of millionaires: 38,800
- Number of billionaires: 17
Washington, D.C.
- Millionaire growth (2014 to 2024): 92%
- Number of millionaires: 28,900
- Number of billionaires: 12
Austin, Texas
- Millionaire growth (2014 to 2024): 90%
- Number of millionaires: 32,000
- Number of billionaires: 10
Guangzhou, China
- Millionaire growth (2014 to 2024): 88%
- Number of millionaires: 24,300
- Number of billionaires: 9
Dallas
- Millionaire growth (2014 to 2024): 85%
- Number of millionaires: 72,400
- Number of billionaires: 16
Warsaw, Poland
- Millionaire growth (2014 to 2024): 83%
- Number of millionaires: 12,800
- Number of billionaires: 4
Delhi, India
- Millionaire growth (2014 to 2024): 82%
- Number of millionaires: 31,200
- Number of billionaires: 16
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Abu Dhabi, United Arab Emirates
- Millionaire growth (2014 to 2024): 80%
- Number of millionaires: 17,800
- Number of billionaires: 8
Houston
- Millionaire growth (2014 to 2024): 75%
- Number of millionaires: 81,800
- Number of billionaires: 16
Beijing
- Millionaire growth (2014 to 2024): 72%
- Number of millionaires: 114,300
- Number of billionaires: 38
Mumbai, India
- Millionaire growth (2014 to 2024): 69%
- Number of millionaires: 51,200
- Number of billionaires: 25
Shanghai, China
- Millionaire growth (2014 to 2024): 67%
- Number of millionaires: 110,500
- Number of billionaires: 35
Riyadh, Saudi Arabia
- Millionaire growth (2014 to 2024): 65%
- Number of millionaires: 20,000
- Number of billionaires: 11
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This article originally appeared on GOBankingRates.com: 20 Cities Minting Millionaires Faster Than Anywhere Else — How Many Are in America?
