The Singapore Flyer observation wheel is pictured in front of commercial buildings in Singapore on Jan. 21, 2022. Photo by AFP
Singapore retained its position as the world’s fourth richest city with 242,400 individuals holding a net worth of over US$1 million as of 2024.
The city-state is also home to 333 centi-millionaires and 30 billionaires, according to the World Wealthiest Cities Report 2025 by investment migration consultant Henley & Partners and global wealth intelligence firm New World Wealth.
The annual report, which ranks cities based on the number of high-net-worth residents, said Singapore’s millionaire population grew by 62% from 2014 to 2024.
In the Asia region, it trails only Japan’s Tokyo, which ranked third globally with 292,300 millionaires, 262 centi-millionaires and 18 billionaires.
This year’s top five remained largely unchanged. New York City retained its position as the world’s wealthiest city with 384,500 high-net-worth individuals in 2024, a 45% increase over the past decade.
The Bay Area, which includes San Francisco and Silicon Valley, held second place with 305,700 millionaires, nearly doubling (98%) its 2014 figure.
Los Angeles completed the top five with 220,600 millionaires. The fifth spot was previously held by London, which is now in the sixth position with 215,700 high-net-worth residents.
