Which city has the most millionaires worldwide? America’s New York City leads the way, followed by Japan’s capital Tokyo and tech hotbed San Francisco.

For a repeat study of millionaire numbers by city, Henley & Partners researchers looked at the wealth of people in more than 150 cities around the world.

New York is firmly in the lead. No less than 345,600 millionaires live in the city of America (for comparison: almost the same number of people live in the municipality of Utrecht). In total, these wealthy people together own over $3 trillion (or: $3,000 billion, more than three times the gross domestic product of the Netherlands).

Most of New York’s millionaires (329,334) have between $1 million and $10 million. In addition, 15,470 residents of the Big Apple have at least $10 million, 737 have at least $100 million, while the city has 59 billionaires.

According to the Henley & Partners millionaire ranking, the United States is Valhalla for the rich. There are no less than five American cities in the top 10: apart from New York, these are San Francisco (third place), Los Angeles (sixth place), Chicago (seventh place) and Houston (eighth place).

San Francisco, which is located on the west coast – including neighboring Silicon Valley – has a combined total of 276,400 millionaires. Of these, 12,890 have more than $10 million, 623 have more than $100 million, while the city has 62 billionaires (three more than New York).

The best of the rest: a lot of Asia, a little bit of Europe

The top ten of this ranking also includes only one European city – London in the United Kingdom, which ranks fourth and is home to a total of 272,400 millionaires. The remaining places in the ranking are occupied by Asian cities, such as Japan’s Tokyo (second), with 304,900 millionaires.

Singapore ranks fifth with 249,800 millionaires, while Beijing, China, has around 131,500 millionaires (ranked ninth). Shanghai located in the south, which is in tenth place this time, has about the same number of millionaires (130,100).