The United States remains the top country for private wealth creation and accumulation, according to a new report by Henley & Partners, a firm that specializes in helping uber-rich clients invest their way into gaining residence and citizenship elsewhere. The country accounts for about 32% of global liquid investable wealth, about $67 trillion.
Here are the top 11 American cities with the largest populations of millionaires at the end of 2023, according to the report.
About 28,300 millionaires (and 12 billionaires) call the nation’s capital home. Over the past decade, D.C. saw its number of millionaires grow a whopping 75%.
Austin had the biggest explosion in millionaire growth than any other city in the country over a decade. In the last 10 years, the number of millionaires living in the Texas city grew 110%. About 32,700 millionaires lived in Austin at the end of December.
Miami is the only city in Florida to make the top 11. The beach city has 35,300 millionaires and 15 billionaires — and Amazon executive chairman Jeff Bezos is one of them.
The New England city has about 42,900 millionaires and just 8 billionaires — the fewest among other cities in this list.
Seattle, the city that gave birth to grunge music and Starbucks, is also base of some of America’s largest corporations, including Microsoft and Amazon. Its also home to 54,200 millionaires and 11 billionaires.
Dallas is one of 3 Texas cities on the list. At the end of 2023, about 68,600 millionaires resided in the city. The number of millionaire in Dallas exploded 75% over the last 10 years.
Houston, the fourth-largest city in the U.S. by population, ranks fifth among cities with the most millionaires. The 90,900 of the city’s 2.3 million residents are millionaires.
Chicago had smallest growth in millionaires over the last decade: 22%, compared with the other cities on the list. Still, about 120,500 millionaires reside in the Midwestern metropolis.
Although Los Angeles is the second most populous city in the country, it is still not top city in California with the most millionaires. In 2023, Los Angeles had 212,100 millionaires and 43 billionaires.
The report combines San Francisco with surrounding areas that collectively make up the area known as Silicon Valley. Taken together, the the tech hub comprises the most billionaires in the United States — 68. It is also has the second-most millionaires in the country, about 305,700.
The Big Apple tops the list of American cities with the most high net worth individuals. About 349,500 millionaires and 60 billionaires reside in America’s largest city. Its millionaire population grew 48% in 2023 compared with 2013.
