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Seoul’s billionaire count exceeds Tokyo’s in latest wealth report

Seoul ranks 19th globally, with over 80,000 millionaires, according to the 2024 World’s Wealthiest Cities report by Henry & Partners and New World Wealth. The city has 82,500 residents with assets exceeding USD1m, including 195 individuals with over USD100m and 20 billionaires, surpassing Tokyo’s 14. Despite a decline from last year’s 97,000 millionaires, Seoul has seen a 28% increase in millionaires since 2013. New York City leads with 349,500 millionaires, followed by the San Francisco Bay Area and Tokyo. The report attributes Seoul’s recent millionaire decline to poor stock market performance and a real estate downturn. Notably, cities hosting investment migration programmes are among the wealthiest, suggesting a link between these programmes and wealth accumulation.


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