The 2025 World’s Wealthiest Cities Report is out — and for the first time, Auckland is no longer among the world’s top 50 millionaire hubs.

Published by Henley & Partners in partnership with New World Wealth, the report highlights a global shift in wealth migration and city rankings.

Auckland, once a regular on the list, has been replaced by Lisbon, which debuts at 50th with 22,200 resident millionaires.

Meanwhile, the United States continues to dominate the rankings, claiming 11 of the Top 50 spots.

New York holds firm at number one with 384,500 millionaires, while the Bay Area (San Francisco and Silicon Valley) ranks 2nd and now boasts more billionaires than New York.

Asia’s fast-growing tech cities are making their mark too.

Shenzhen leads global growth with a staggering 142% rise in millionaires since 2014.

Dubai, Hangzhou, and Bengaluru also posted triple-digit growth, reflecting a broader global shift toward emerging financial and tech hubs.

Cities such as Chicago, Miami, and Washington DC climbed the rankings, while London and Moscow are among the few that saw a decline in millionaire numbers over the past decade.

According to Henley & Partners CEO Dr. Juerg Steffen, cities combining legal certainty, strong infrastructure, and investment-friendly policies are leading the charge.

For Auckland, the drop may signal the need to better compete with global hubs attracting wealth through innovation, tech, and migration incentives.

The full report by Henley & Partners and New World Wealth.

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