Tel Aviv ranks 41st in the world in terms of the number of millionaires (those with investable liquid wealth of at least $100 million), according to the 2024 Millionaires Report by Henley & Partners and New World Wealth Research.
The report found that there are 212 millionaires living in Israel, a 62% increase over the past 10 years, including 82 in Tel Aviv. The main reason for this is the large number of successful tech companies in the city, including Check Point, Wix, Waze, and monday.com, as well as global tech giants such as Intel and IBM. Jerusalem and Netanya also contribute to the large number of millionaires in Israel.
Henley & Partners sees the number of millionaires in Israel continuing to grow, albeit at a less dramatic pace than in China and the United States.
“This exclusive club has grown globally by 54% over the past decade, but the geographic distribution of this explosion in the number of super-rich people across different regions is revealing. The US and China have seen what can only be described as a boom in the number of millionaires, far outpacing their European counterparts,” the report said.
The report found that there are 29,350 centenarian millionaires worldwide, up 54% from a decade ago. The three cities with the most centenarian millionaires are New York (744), the San Francisco Bay Area (675), and Los Angeles (496), followed by London (370), Beijing (347), Singapore (336), Shanghai (322), Hong Kong (320), Chicago (290), and Paris (286).
This article was published in Globes, Israeli Business News – en.globes.co.il – on September 17, 2024.
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