Tel Aviv sinks in Global wealth rankings as millionaires vanish

Tel Aviv’s reputation as a haven for the ultra-wealthy has faltered, as detailed in Henley & Partners’ latest “World’s Wealthiest Cities” report for 2025. The Israeli tech hub dropped from 42nd in 2024 to 48th.

This slide follows an 8% decline in its millionaire population, falling from 24,300 to 22,600 individuals with at least $1 million in liquid assets. Tel Aviv also lost six centi-millionaires—worth over $100 million—and one billionaire.

Despite a 25% rise in millionaires over the past decade, Tel Aviv lags behind fast-growing wealth centers. Currency fluctuations between the shekel and dollar might explain part of the drop, though analysts haven’t confirmed this.

Jerusalem and Netanya still feature on the global wealth map, ranking 104th and 124th for centi-millionaires, respectively. Globally, traditional financial capitals dominate the rankings.

New York leads, followed by the San Francisco Bay Area, Tokyo, and Singapore. Los Angeles, with 220,600 millionaires, 516 centi-millionaires, and 45 billionaires, overtook London for fifth place.

London, with 215,700 millionaires, 352 centi-millionaires, and 33 billionaires, slipped to sixth. Asia and the Middle East are driving the most dramatic wealth growth.

Shenzhen, at 28th, saw a 142% millionaire surge since 2014. Hangzhou (35th) and Dubai (18th) posted gains of 108% and 102%, respectively.

Dubai, now home to 81,200 millionaires, 237 centi-millionaires, and 20 billionaires, climbed three spots from 21st in a year. Seoul, however, fell five places to 24th, marking the steepest decline.

These shifts reveal a changing global wealth landscape. Tel Aviv struggles to keep up as other cities surge ahead.