Henley & Partners, along with wealth research firm New World Wealth, has released the World’s Wealthiest Cities Report. The report ranks the richest cities and the fastest-growing wealth hubs around the globe.
At the top of the list is Shenzhen, China, now the world’s fastest-growing wealth hub. The city is home to top tech companies like Huawei, Tencent, BYD, DJI, and ZTE. Over the past 20 years, Shenzhen has grown rapidly, especially in tech industries such as smartphones, drones, electric vehicles, and 5G technology.
Today, Shenzhen has over 17 million residents, including 22 billionaires, 156 centimillionaires (those with $100 million or more), and over 50,000 millionaires.
Other fast-growing cities include:
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Scottsdale, Arizona (Rank 2): Saw a 125% rise in millionaires in the last 10 years. Now has 14,800 millionaires, 64 centimillionaires, and 5 billionaires. It’s also known for its 53 golf courses and was named the best golf city in the U.S.
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Bengaluru, India (Rank 3): Known as India’s tech capital.
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West Palm Beach, Florida (Rank 4): A rising luxury and business destination.
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Hangzhou, China (Rank 5): Another strong tech and business city.
Other U.S. cities like Miami, Washington D.C., and Austin, Texas are also seeing major wealth growth.
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