America’s 10 Richest Cities | Wilnesh News

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide for high-net-worth investors and consumers. Sign up To receive future editions delivered directly to your inbox.

New York still leads the United States and the world when it comes to wealthy cities.

With nearly 350,000 millionaires and 60 billionaires, New York is the wealthiest city in the United States, according to Henley & Partners and New World Wealth’s “American Wealth Report.” Despite many headlines about wealthy people leaving the city, the city’s millionaire population has increased by 48% in the past 10 years.

The San Francisco Bay Area is the second richest city in the United States, although it has more billionaires than New York, with more than 305,000 millionaires and 68 billionaires. The growth rate of the Bay Area in the past 10 years is even more alarming, with the millionaire population increasing by 82%. A surge in artificial intelligence investment and growth is expected to add another boost to San Francisco’s recovery.

The U.S. city with the fastest growing number of super-rich people in the top ten is Austin, Texas, where the millionaire population has more than doubled in the past decade to nearly 33,000. Miami is also growing rapidly. The number of millionaires has increased by 87% in the past decade, but the number of millionaires is only one-tenth that of New York City.

The data show that despite wealth migrating to the Sun Belt (roughly defined as the southern third of the U.S., known for its sunny weather) and states with lower taxes, America’s two largest centers of wealth remain.

“Despite the recent rise of major wealth centers in Texas and Florida, the Bay Area and New York City are expected to remain the wealthiest cities in the United States for decades to come,” said Andrew Amores, director of research at New World Wealth.

Here are the top 10: