Photo/Illutration Tokyo Skytree is lit up in the capital’s Sumida Ward on Sept. 9, 2022. (Taken from an Asahi Shimbun helicopter by Naoko Kawamura)

Tokyo ranked second after New York among the world’s wealthiest cities in terms of millionaires, according to a report released by a British consulting firm.

But compared with U.S. and Chinese cities that also made it to the top 10 list, Japans capital is home to a relatively low number of billionaires.

Henley & Partners said April 18 it compiled the list based on the number of individuals with investable wealth--property, cash and stocks--in excess of $1 million (134 million yen).

New York was in the first place with 340,000 millionaires, followed by Tokyo with 290,300.

However, Tokyo has 250 centimillionaires, individuals whose personal wealth was estimated to top $100 million, which is about one-third of the figure for New York.

The capital also boasts 14 billionaires in U.S. dollar terms, the least among the top 10 cities.

The British firm noted that wealth is relatively evenly distributed in Tokyo with the middle classes and lower-tier millionaires controlling most of the city’s capital.

Three U.S. cities and three in China made it to the top 10.

Of them, five cities, excluding Hong Kong, saw increases of between 35 and 72 percent in the number of wealthy individuals from 2012.

However, the number of wealthy individuals decreased by 5 percent in Tokyo, 15 percent in London and 27 percent in Hong Kong.

The report makes it clear that the number of wealthy individuals is increasing notably in the United States and mainland China.

Seven of the top 10 wealthiest cities are in countries that offer investment migration programs, excluding Japan and mainland China.

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The world’s top 10 wealthiest cities, according to Henley & Partners:

1. New York

2: Tokyo

3: San Francisco Bay Area

4: London

5: Singapore

6: Los Angeles

7: Hong Kong

8: Beijing

9: Shanghai

10: Sydney