By Onome Amuge
Lagos has been ranked 72nd place in the world and fourth position in Africa after Johannesburg, Cairo and Cape Town, in a new list of the world’s wealthiest cities in 2023, compiled by Henley & Partners,  the global leader in residence and citizenship by investment.
Henley & Partners, in its compilation, showed that the most populous Nigerian city,based on possessions in U.S dollar rate, has an estimated 5,400 millionaires, 16 centi-millionaires (those worth $100 million and above), and three billionaires.
On a global stage, New York was ranked the world’s wealthiest city. The report showed that the city, recognised as the financial center of the USA is home to no fewer than 340,000 millionaires, 724 centi-millionaires and 58 billionaires.
Japan’s Tokyo, and Silicon Valley’s Bay Area in the U.S, occupied the second, and third spots, with the latter having the highest billionaire residents numbering 63.
The resulting charts show that, by far, the US has more wealthy cities than any other nation, with 10 in the top 50, followed by China with five cities,and Australia claiming four cities in the top 50.
The World’s Wealthiest Cities Report 2023 covered 97 cities across the world, based on data from wealth intelligence firm, New World Wealth, which tracks the movements and spending habits of high-net-worth individuals with the work titles like Founder, Chairperson, CEO, and Director.
According to the London-based investment migration consultancy, the cities were ranked by taking into account the number of resident millionaires, rounded off to the nearest 100, as of December 31, 2022. It also considered the number of highly-priced homes in the area
Lagos is the only Nigerian city featured in the list, with South Africa’s Johannesburg ranked the wealthiest city in Africa, having 14,600 millionaires, 30 centi-millionaires and two billionaires.
