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Cities such as the US and China dominated the top ten, while London came fourth.
Henley & Partners compiled the list by tracking the spending habits of over 150,000 high net worth individuals from 97 cities around the world. The firm focused mainly on wealthy individuals with positions such as Founder, Chairman, CEO and Director.
At the top of the rich list this year is the city of New York, which boasts 58 billionaires. The second city is the capital of Japan, Tokyo, which has 290,300 HNI.
The US Bay Area is third on the list, perhaps thanks to Silicon Valley's well-paid tech workers. This year, only one European city was ranked among the ten richest cities: London. Most of the list is dominated by cities in the US and China.
Here are the 10 richest cities in the world according to Henley & Partners:
1.New York City, USA
2.Tokyo, Japan
3.Bay Area, USA
4.London, UK
5.Singapore
6.Los Angeles, USA
7.Hong Kong
8.Beijing, China
9.Shanghai, China
10.Sydney , Australia
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