The World’s Fastest Growing Wealth Hubs
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Key Takeaways
- This graphic ranks cities with the fastest growing millionaire populations from 2014 to 2024
- Shenzhen tops the list, followed closely by Scottsdale, Arizona and Bengaluru, India
- The San Francisco Bay Area remains the leader in the total number of millionaires, according to the list compiled by Henley & Partners
What’s Driving Shenzhen’s Boom?
Shenzhen is home to giants like Huawei, Tencent, and DJI. The city’s thriving startup and tech ecosystem has created thousands of new millionaires through stock options, IPOs, and private equity.
The Chinese government has also prioritized Shenzhen as a model city for innovation and reform.
| City/Area | Millionaire Growth % (2014–2024) |
|---|---|
 Shenzhen |
142% |
 Scottsdale |
125% |
 Bengaluru |
120% |
| West Palm Beach |
112% |
| Hangzhou |
108% |
 Dubai |
102% |
| The Bay Area |
98% |
| Miami |
94% |
| Washington DC |
92% |
| Austin |
90% |
| Guangzhou |
88% |
| Dallas |
85% |
 Warsaw |
83% |
| Delhi |
82% |
| Abu Dhabi |
80% |
| Houston |
75% |
| Beijing |
72% |
| Mumbai |
69% |
| Shanghai |
67% |
 Riyadh |
65% |
 Singapore |
62% |
 Taipei City |
60% |
 Monaco |
58% |
 Calgary |
55% |
 Bangkok |
53% |
| Vancouver |
52% |
| Jeddah |
52% |
In second place on our list is Scottsdale, Arizona. Once known mainly as a resort town, Scottsdale has emerged as a rising tech hub. The city is home to GoDaddy’s headquarters and hosts offices for major players like PayPal, Yelp, and Turo.
Coming in third on our list is Bengaluru, famously known as the “Silicon Valley of India.” The city’s economy thrives in sectors like IT, Biotechnology, Aerospace, Telecommunications, Electronics, and Manufacturing.
Despite losing some big companies to other areas over the last couple of years, the San Francisco Bay Area remains the leader in the total number of millionaires, with 342,400. The area is also home to 82 billionaires, more than the total number of billionaires in the top six cities combined.
Besides cities in the U.S., China, and India, the top 10 also features Dubai. With tax incentives, a growing tech sector, and massive real estate developments, the city continues to attract wealthy entrepreneurs and investors from around the world.
When comparing by country, the U.S. leads with eight hubs, followed by China with five, and India with three.
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