The global population of high-net-worth individuals increased last year by just under 2 percent, according to a recent report by Wealth-X, and it represents a population that’s spread across the world, albeit unevenly. HNW individuals, categorized as having a net worth between $1 million and $30 million, still prefer living in the U.S. over other countries. There are more than 8.6 million HNW individuals living in America, which is home to six of the top-10 HNW cities around the globe.
While these cities still have the largest number of HNW residents, seven of the 10 are losing their wealthiest citizens. Among the top 40 cities with the fastest-growing HNW populations, 32 were in China, and all of them were in Asia. China's largest city for UHNW and HNW is Shanghai, with 123,000 HNW individuals.