The neighboring country, once Temasik, continued to achieve success when Singapore broke into the top 20 ranking of the world's richest cities.
The success was recorded in the Global Citizens Report issued by the residency and citizenship program consulting firm, Henley & Partners (H&P).
The report measures the total wealth of individuals in every city around the world for the first half of 2022.
The report also found that global wealth formation has declined by 5% due to the decline in the performance of stocks on Wall Street since the beginning of the year.
Follow the simple summary of the ranking of the world's richest cities below.
New York, USA
The city that received the nickname Big Apple continues to top the first position of the world's richest city.
The city consists of 5 boroughs between the Bronx, Brooklyn, Manhattan, Queens, and Staten Island including Manhattan.
Home to 345,000 millionaires, 737 centi-millionaires and 59 billionaires.
Tokyo, Japan
This technologically advanced city is ranked 2nd in the world's richest cities.
Placed 304,900 millionaires, 263 centi-millionaires and 12 billionaires.
London, England
England's main city center is indeed famous for producing the world's millionaires, but the number is seen to be decreasing every year for several reasons.
Placed 272,400 millionaires, 406 centi-millionaires and 38 billionaires.
Singapore, Singapore
Singapore that was hit by the sword managed to emerge as the richest city in the Southeast Asian region and the 2nd position in the Asian region.
Home to 249,800 millionaires, 336 centi-millionaires and 26 billionaires.
Beijing and Shanghai, China
The millionaire capital of Beijing houses 131,500 millionaires, 363 centi-millionaires and 44 billionaires.
The financial center of Shanghai is filled with 130,100 millionaires, 350 centi-millionaires and 42 billionaires.
Sydney, Australia
This Koala country has 29,500 millionaires, 188 centi-millionaires and 16 billionaires.
Dubai, Mumbai and Shenzhen
These 3 countries are expected to emerge as the world's richest cities in the future with Dubai housing 67,900 millionaires, 202 centi-millionaires and 13 billionaires in the 23rd ranking.
Mumbai has 60,600 millionaires, 243 centi-millionaires and 30 billionaires to rank 25th.
Shenzhen is in 30th place with 43,600 millionaires, 135 centi-millionaires and 17 billionaires.
