Yet again, Scottsdale finds itself near the top of a list, and in this case it’s one of the best lists you’d imagine. According to the 2025 World’s Wealthiest Cities Report by Henley & Partners, Scottsdale ranks as the second-fastest-growing millionaire hotspot in the world, outpaced only by Shenzhen, China. In just the past decade, Scottsdale has seen its millionaire population more than double, now hosting around 14,600 high-net-worth residents.
Perhaps most impressively, Scottsdale now sits atop of this ranking for all American cities. West Palm Beach is next at 112%, and no other American cities sit above a 100% growth rate, although the Bay Area, DC, and Miami all sit directly below that mark. Additionally, Scottsdale can also boast 64 centi-millionaires (people with a net worth over $100 million), and five billionaires.
So what’s driving the surge?
It comes down to a trifecta of opportunity, climate, and lifestyle. Scottsdale’s pro-business policies and relatively low taxes make it a haven for entrepreneurs, particularly those escaping higher-tax states like California. Tech startups and remote-working execs are planting roots here, drawn by the incredible quality-of-life. Add in world-class golf, a buzzing culinary scene, and desert views that belong on a postcard, and you’ve got a magnet for wealth.
However, as with anything, it’s not all sunshine and roses. Of course, by nature it’s a positive…from sleek modern mansions to high-end boutiques, Scottsdale delivers big on the high life. The city’s booming economy, resort-like amenities, and outdoor lifestyle check every box for the modern millionaire. But it comes with a price…
Skyrocketing home prices, with many listings over $1 million, are squeezing out middle-income residents, including the people who help make the city safe and livable. Infrastructure and housing availability are being tested, and long-time locals worry about Scottsdale losing its small-town charm.
Scottsdale’s millionaire momentum is real and impressive. The key now is balancing booming growth with livability, so it remains not just a millionaire’s playground, but a thriving city for all.