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More than 1,700 millionaires left Israel over the past year, according to a new report released Tuesday by Henley & Partners in collaboration with global wealth intelligence firm New World Wealth.
The annual survey, which tracks the movement of high-net-worth individuals, found that 76 people with fortunes exceeding 100 million shekels (about $27 million) resided in Tel Aviv and Herzliya in 2024, down from 82 the previous year. Herzliya, a coastal city just north of Tel Aviv, was home to nine billionaires, according to the report. Jerusalem, Israel’s capital, counted 27 millionaires among its residents.
New World Wealth monitors the financial activities and migration of more than 150,000 wealthy individuals worldwide, particularly those holding portfolios of over $30 million in publicly traded companies. The firm relies on open-source data, including LinkedIn and other business platforms, and considers location based on workplace and ownership of high-end real estate. Wealth, as defined in the report, includes liquid investment assets, holdings in publicly listed companies, cash and debt-free real estate.
Globally, New York City topped the list with the highest number of wealthy residents, including 818 individuals worth more than $100 million and 66 billionaires. The San Francisco Bay Area ranked second with 342,000 residents worth over $1 million. Despite having fewer overall millionaires than New York, the region surpassed it in billionaire residents, with 82 individuals, reflecting the tech sector’s significant contribution to wealth creation. The area has seen a 98% growth in its millionaire population over the past decade, making it the fastest-growing hub for new wealth.
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Tokyo, Singapore, London, Los Angeles, Sydney, Hong Kong and Beijing followed among the cities with the highest concentrations of millionaires.
Daniel Shmailov, Henley & Partners’ representative in Israel, said cities that combine quality of life with strong investment opportunities tend to attract more wealthy residents. “Most of these cities have advanced legal systems, robust financial infrastructure and immigration policies that support investment,” he said.