New York City sees millionaire population soar 48 percent in 10 years (2024)

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What percentage of New York City are millionaires? ›

1 in 24 New Yorkers are millionaires despite reports of rich Americans fleeing south.

Nearly 350,00, or one in every 24 residents of The Big Apple are millionaires, according to a new ranking from Henley and Partners. New York City is also home to 744 centi-millionaires, worth at least $100 million; and 60 billionaires. The combined total wealth of the city's residents is greater than $3 trillion.

New York City historically has one of the largest concentrations of wealth, with 349,500 millionaires. When adjusted for population, that number is 1 in every 24 people in the city. The U.K. wealth firm, Henley & Partners analyzed data from New World Wealth to produce its United States Wealth Report.

New York City once again is home to the most billionaires in the world: It's the primary residence of an estimated 110 billionaires who are worth a collective $694 billion. The Big Apple has long dominated the ranks, coming in at No. 1 for all but one of the past 11 years. (Beijing briefly took the top spot in 2021.)

New York is the richest city in the world, with 359,500 millionaires and 60 billionaires, according to a new study. The Bay Area of California is close behind, with its millionaire population surging 82% over the past decade.

After creating all the parameters and crunching all the numbers, the team named New York City the wealthiest in the world, where one out of every 24 residents is a millionaire.

Claiming the top spot for another year running is New York City. The Big Apple has an incomprehensible total wealth of $3 trillion – $3 trillion – thanks to the 349,500 millionaires, 744 centi-millionaires and 60 billionaires who call it home.

New York Tops List of Cities With Most Millionaires. The boom in financial markets in the past few years has driven growth in the world's richest cities, according to Juerg Steffen, Henley & Partners' chief executive officer. Global equities surged 20% in 2023 and are up almost 7% this year.

What is the richest country in the world? ›

New Jersey topped a U.S. News & World Report ranking of the richest states in the U.S. The ranking, published in November, used the U.S. Census Bureau's American Community Survey estimates from 2022 to identify states with the highest median household income.

Several of these buildings are in the supertall category, taller than 1,000 feet (300 m), and are among the tallest buildings in the world (including the three tallest residential buildings). Since most of these pencil towers are on 57th Street, the term can refer to this street as well.

The 46% of New Yorkers who feel wealthy today have an average net worth of $553,000. However, the amount to be considered “wealthy” in New Yorkers is an average net worth of $3.3 million.

With more than 20.1 million people in its metropolitan statistical area and 23.5 million in its combined statistical area as of 2020, New York City is one of the world's most populous megacities.

The states with the greatest GDP are often those with substantial economies fueled by industries such as technology, finance, manufacturing, and services. California, Texas, and New York frequently dominate GDP rankings due to their varied and powerful economies.

Racial wealth inequality in New York State

Notably, New York State has a wider racial wealth gap than in the United States as a whole, where the median white household net worth is $291,250 and the median Black household net worth is $31,370—a ratio of 9.3.