When money is no object and you can live anywhere in the world, where do you choose to live? It turns out the world’s richest like to settle where other rich people settle.
According to the latest Altrata World Ultra Wealth Report 2025, almost one-fifth of the world’s ultra-wealthy live in just 10 cities worldwide: And seven of those hot spots are in the United States (1).
The “ultra-wealthy,” also known as ultra-high-net-worth (UHNW) individuals, aren’t just rich; they’re in a league of their own, with personal fortunes topping a whopping $30 million or more (2).
As of mid-2025, there were about 510,000 UHNW individuals across the globe, collectively holding about $59.8 trillion in net worth (3).
Why does it matter where they live? The cities they call home highlight how concentrated wealth has become and how being ultra-rich isn’t just about having money but also being in the right ecosystem. “In fact, the average UHNW individual knows at least 70 other UHNW individuals directly plus many more with smaller but still substantial fortunes,” the report calls out (1).
So, where exactly are the ultra-wealthy living?
These seven U.S. cities aren’t just thriving, they’re the playgrounds of the super-rich – and their numbers are going up. The number of individuals claiming the UHNW status has steadily increased in the past year by staggering amounts:
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New York – 21,380 ultra-wealthy residents, up 23.4%.
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Los Angeles – 11,680 residents, up 24%.
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San Francisco – 8,270 residents, up 24.9%.
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Chicago – 7,530 residents, up 21.7%.
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Dallas – 6,530 residents, up 23%.
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Washington D.C. – 6,460 residents, up 23.6%.
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Houston – 5,900 residents, up 22%.
The ultra-wealthy are drawn to these hubs because of a powerful mix of booming financial ecosystems, cultural amenities and, in many cases, tax-friendly regimes. In other words, they’re clustering in these U.S cities because of the opportunities to make money and the beneficial lifestyles that these cities offer.
This crowd may be a tiny sliver of the global millionaire universe (they’re about 1%), but they hold almost one-third of high-net-worth wealth among them.
Understanding how UHNW individuals earn money, hold onto it and build from it can offer a window into the dynamics of extreme wealth and could be a playbook for anyone who’s aiming high.
So what sets the ultra-wealthy apart in their financial behavior? They tend to share several key habits.
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Financial literacy: These individuals are not passive about money. They take the time to understand tax law, investment strategy and markets and they get guidance from experts who can use that insight to their advantage (4). They are being intentional and not leaving their futures to chance when it comes to their wallets.
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Smart debt: Leveraging loans for appreciating assets, like real estate and business growth, is very much on the table (5). It’s about structured, intentional debt rather than high-interest consumer debt.
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Diversified portfolios: They spread their bets across asset classes: stocks, bonds, real estate and alternative investments like precious metals, private equity or venture capital. The ultra-wealthy recognize that risk mitigation and growth don’t come from single bets (2).
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Protecting wealth: Once they’ve built their fortune, the job often becomes preservation (6). That means tax optimization, estate planning and insurance safeguards. They’re putting their guard up instead of just chasing the next big score.
Even if reaching ultra-wealthy status isn’t in your immediate future, consider how their habits could be helpful in your own financial life. If you want to study how the super-rich manage wealth, they tend to focus not just on earning the fortune, but keeping it and making it work for them. Here are some moves you can consider:
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Max out tax-advantaged accounts (retirement plans, IRAs, etc.) (7).
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Take full advantage of any employer-matching programs.
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Invest in diversified exchange-traded funds (ETFs) to broaden your exposure.
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Don’t set it and forget it; regularly review your portfolio since market conditions change.
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Dive deeper into tax strategy: understand tax-loss harvesting, charitable giving, trusts and estate-planning tools (8).
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Use insurance strategically to protect your assets.
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Develop a plan for wealth transition by thinking ahead about family legacy or business exit strategy.
Keep in mind that UHNW individuals get expert advice to guide them, even if they’re already knowledgeable about money matters.
The ultra-wealthy are clustered and small in number, but their impact is large: controlling trillions, influencing markets, migrating to certain cities, shaping culture.
If you live in one of the seven U.S. cities listed above, you’re in the same zip code as thousands of individuals with net worths at or exceeding $30 million. But even if you live elsewhere, the basic principles they follow may be available to you as well.
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
World Ultra Wealth Report 2025 (1; 3); Fidelity (2; 7); PwC (4); J.P. Morgan Wealth Management (5); Merrill (6); Black Rock (8)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
