In 2017, Hong Kong overtook New York as the world’s richest city. That’s according to new research from Wealth-X, which found that Asia is creating more ultra-high-net-worth (UHNW) individuals — defined as those worth $30 million or more — at a faster pace than any other region in the world.
Hong Kong now has 10,010 residents worth $30 million or more, a 31 percent increase from the previous year. New York, meanwhile, recorded a 7 percent increase and hosts 8,865 UHNW individuals. Tokyo ranks third with 6,785.
While Asia is catching up in terms of wealth creation, the U.S. remains the world’s leading region for the super rich: The UHNW population in America stands at 79,595, which is more than the combined total of the next five largest UHNW countries. And as the chart below shows, five of the top 10 UHNW cities are in America: New York, Los Angeles, Chicago, San Francisco and Washington D.C.
Here are the top 10 richest cities in the world, as measured by the number of residents worth $30 million or more: