Rich people live globally in major economic hubs like New York City, London, Hong Kong, Singapore, and Tokyo, often clustering in cities with strong finance, tech, or entertainment industries, though many also reside in exclusive suburbs, private communities, or wealth-friendly nations like Switzerland and the UAE, seeking privacy, luxury, and robust economies.
Sydney. Sydney boasts a staggering 126,900 resident millionaires, along with 184 centi-millionaires and 15 billionaires, residing in some of the world's most exclusive residential suburbs, such as Bellevue Hill, Darling Point, Mosman, Point Piper, and Vaucluse.
The U.S. Leads by a Wide Margin. The United States has the world's largest wealthy population, with 6 million millionaires, over 10,000 centi-millionaires, and 867 billionaires.
Where do most rich people live in the US? Most rich people in the US live in major cities like California, New York, Texas and Florida, which consistently jostle for the top spots. These states offer a blend of established wealth centres, thriving industries, and desirable climates and lifestyles.
In 2023, the latest year we have data for, the median household income in the U.S. was $80,610, according to the Census Bureau. The state with the highest income threshold is Connecticut, where the 1% make at least $1,056,996 in household income. West Virginia has the lowest threshold at $416,310.
New York City, New York
As the country's financial capital, it houses more millionaires and billionaires than any other U.S. city. New York's mix of finance, culture, and global influence keeps it firmly at the top. No other American city matches its scale of wealth or its role as a global financial center.
However, the median net worth of 1% households is estimated to be closer to $13 million; the average is much higher due to the ultra-wealthy skewing results upward.
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The richest country by GDP (PPP) per capita is often cited as Singapore, followed closely by Luxembourg, depending on the specific report and year, with Singapore leading in 2025 estimates with around $156,000-$157,000 per person, while Luxembourg is a strong contender just below that, highlighting small, finance-heavy economies as wealthiest per person.
Ultra-high-net-worth individuals (UHNWIs) have a net worth of at least $30 million. The U.S. leads with the most UHNWIs, totaling 208,560 individuals. UHNWIs typically invest in real estate, equities, and bonds for wealth accumulation. As of 2023, there are 626,600 UHNWIs globally, with growing numbers projected.
The richest person in Australia is Gina Rinehart, a mining magnate and executive chairperson of Hancock Prospecting, who has topped the annual Financial Review Rich List for several consecutive years, with her wealth estimated around A$38.11 billion as of the 2025 list, despite recent iron ore price fluctuations affecting her fortune.
Here are the report's top 10 cities with the highest populations of ultra-wealthy people:
Take a look at the latest billionaire rankings from Forbes or Bloomberg and you'll quickly see which countries have no billionaires. The list includes either very poor countries like Haiti, Afghanistan, Yemen, Eritrea, and South Sudan, or countries that are both poor and communist, such as Cuba and North Korea.
The richest suburb in Australia, based on average taxable income, is often Double Bay, NSW (postcode 2028), known as "Double Pay," followed closely by Sydney's Eastern Suburbs and Perth's affluent western areas like Cottesloe and Peppermint Grove (6011). Other top contenders for wealth and high property values include Point Piper, Bellevue Hill, Vaucluse, Toorak (VIC), and Palm Beach (NSW), featuring high-end homes and luxury lifestyles.
New York: Scarsdale.
The average Scarsdale home is worth $1.6 million, as of June 2025. It's the wealthiest suburb in America.
Yes, Australia is widely considered a rich country, consistently ranking among the world's wealthiest by metrics like GDP per capita and median wealth per adult, often placing second or fifth globally due to strong resources (mining, agriculture) and high real estate values, though this wealth coexists with significant wealth inequality and a reliance on a narrow economic base.
South Sudan ranks as the poorest country globally, grappling with prolonged civil war, oil dependency, and severe food insecurity. The ongoing conflict disrupts agricultural production, leaving over 60% of its population in need of humanitarian assistance.
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Still commonly used is multimillionaire, which refers to individuals with net assets of 2 million or more of a currency. There are approximately 584,000 US$ multimillionaires who have net assets of $10M+ worldwide in 2017.
What Is Considered High-Net-Worth in Australia? In most professional circles, a high net worth individual is defined as someone with over $1 million AUD in investable assets, excluding the family home. Under the Corporations Act 2001 (s.