New York has almost 350,000 millionaires, which is the most of any city and up 48% from a decade ago, according to a global ranking of the wealthiest cities by Henley & Partners.

The Bay Area came in second overall, with 305,700 people with a seven-figure net worth living in the region that includes San Jose, San Francisco and Palo Alto.

Tokyo came in third with 298,300, a figure that slid 5% over the past decade.

Singapore, No. 4, has become a top destination for migrating millionaires with about 3,400 high net-worth individuals moving there in 2023 alone.

Some cities on the rise include China's Shenzhen, where the number of millionaires has surged 140% over the past decade. 

Bengaluru, India; Ho Chi Minh City, Vietnam; and Scottsdale, Arizona in the US, have also seen their millionaire population more than double in the past 10 years.