New Global Study: The Cities Creating the Most Future Millionaires

A May 2026 report on global wealth creation found that Shenzhen, China, is the city best positioned to produce the next generation of millionaires. A new study by Coin Insider, an independent news platform covering digital currencies, analyzed millionaire growth rates, venture capital activity, and skilled migration across 50 cities to identify where tomorrow's wealthy are likely to emerge.

• Shenzhen ranks first with a millionaire growth rate of 142% over the past decade, alongside a tech workforce exceeding half a million people and strong skilled migration inflows.

• Both showing rapid wealth accumulation and dynamic venture capital ecosystems, Austin and Dubai follow closely.

• London stands out as the only major financial hub with negative millionaire growth over the past decade, losing 12% of its high-net-worth population.

The study evaluated each city using seven factors that count toward future potential rather than current wealth. Millionaire growth over the past decade reflects the focus on upward momentum, while venture capital ecosystem growth, deal value, and fundraising value measure innovation and investment activity. Current millionaire count, tech workforce size, and skilled migration trends were added as additional context. Higher final scores indicate a stronger potential for creating new millionaires in the coming years.

 

Here are the 10 cities most likely to produce future millionaires:

You can access the complete research findings here.

 

1. Shenzhen, China

• Millionaires: 50.8K

• Millionaire Growth 2014-2024: 142%

• VC Ecosystem Growth Score: 32.8

• Deal Value: $42.6B

• Fundraising Value: $56B

• Estimated Tech workforce: 500K+

• Final Score: 99/100

Shenzhen is the world's top city for producing future millionaires. The city's wealthy population has grown by 142% over the past decade, more than triple the rate of New York and nearly 30 times the rate of London. Shenzhen has over half a million tech workers and a fundraising value of 56 billion dollars. Skilled migration is strong, and the city has established itself as China's hardware and AI capital. Shenzhen's wealth is new, fast-growing, and deeply tied to technology.

2. Austin, United States

Austin ranks second with millionaire growth of 90% over the past decade, double the rate of New York. The city has the highest venture capital (VC) ecosystem growth score among the top five, meaning its startup environment is expanding faster than almost anywhere else. Austin's tech workforce sits at 200K, and the city has seen strong inflows of skilled workers fleeing higher-cost coastal hubs. Deal value reached $29B, and fundraising added another 15 billion.

3. Dubai, United Arab Emirates

Dubai takes third place with millionaire growth of 102% since 2014, second only to Shenzhen among the top five. The city has one of the highest VC ecosystem growth scores in the study, and a tech workforce of 200K specialists. Dubai is successfully attracting skilled talent from Europe, South Asia, and elsewhere, with the highest scores on specialist migration. While deal value and fundraising numbers are relatively smaller, the growth trajectory suggests that what Dubai lacks in current investment volume, it makes up for in speed and ambition.

4. Miami, United States

Miami ranks fourth with millionaire growth of 94%, putting it ahead of every US city except Austin. The city has become a magnet for finance and crypto professionals fleeing New York and California, with a tech workforce of 150K people and growing. Deal value reached 24 billion dollars, and fundraising added 33 billion. This strong ratio suggests high investor confidence, and the city's emergence as an American tech hub has accelerated wealth creation. Miami's millionaire count is still modest compared to New York, but its growth rate projects a narrower gap in the future.

5. Hangzhou, China

Hangzhou rounds out the top five with millionaire growth of 108% over the past decade, the third highest among all cities studied. The city has a tech workforce of 220K specialists and has established itself as China's e-commerce capital, home to Alibaba and a thriving fintech scene. Deal value reached 31 billion dollars, and fundraising adds another $17B. Hangzhou is smaller than Shenzhen and Shanghai, but its wealth creation rate is among the fastest in the world. For a city of its size, the concentration of millionaire growth is remarkable.

 

A crypto expert from Coin Insider commented on the study:

 

"Digital currencies have decoupled wealth creation from physical location. Thirty years ago, you needed to be in New York or London to build serious wealth. Today, a developer in Shenzhen, a trader in Dubai, and a founder in Austin can all access the same global capital markets from their laptops. The cities that will produce the most future millionaires are not the ones with the biggest bank balances today. They are the ones where most people are building things that did not exist yesterday."