4 Canadian cities are among the world's richest and so many 'centi-millionaires' live here

As everyday Canadians across the country grapple with inflation and a stubbornly high cost of living, a new report reveals that some Canadian cities are quietly climbing the ranks of the wealthiest cities in the world.

If you've ever wondered where the richest Canadians live, the latest World's Wealthiest Cities Report for 2025 has the receipts.

The new report from Henley & Partners looks at where the world's ultra-rich are putting down roots, including millionaires, billionaires and a fast-growing category of elite earners known as "centi-millionaires" — people with at least $100 million in investable assets.

These aren't just folks with pricey real estate and a big portfolio. The report explains that they're "arguably the most important wealth band when it comes to wealth creation due to the large percentage of entrepreneurs in this segment" — meaning they're a good indication of healthy industry growth in their cities, too.

This year, four Canadian cities made the list of the top cities for centi-millionaires, with a combined 332 of these wealthy residents.

Toronto leads the charge when it comes to Canadian millionaires and centi-millionaires, with 184 residents boasting $100 million or more. This lands the city in 18th place globally, among the ranks of global wealth hotspots like Monaco (#17) and Milan (#19).

Vancouver isn't far behind with 90 centis — tied with Austin, Texas, for 37th globally. Meanwhile, Montreal counts 32 of them, tied with Warsaw, Poland, for 92nd place.

Calgary rounds out the Canadian group in the 105th spot with 26 centi-millionaires — but it's one of a handful of cities worldwide that Henley predicts will double that number in the next 10 years.

The report, compiled in partnership with global data firm New World Wealth, tracks where the world's richest people are actually living — not just passing through. It looks at millionaire, centi-millionaire and billionaire residents in each city, measuring investable wealth only (so real estate, collectibles and business assets don't count).

That entrepreneurial energy seems to be alive and well in cities like Vancouver and Toronto, which have also become magnets for wealthy newcomers. Henley & Partners highlights that cities offering "investment migration programs that welcome global talent and capital" are becoming major wealth magnets — and Canada's largest cities fit that bill.

So while most of us are budgeting groceries and side-eyeing rent increases, it turns out that Vancouver millionaires, Toronto's financial elite and a growing class of centi-rich Canadians are quietly stacking cash — and putting Canada firmly on the global wealth map.

AI tools may have been used to support the creation or distribution of this content; however, it has been carefully edited and fact-checked by a member of Narcity's Editorial team. For more information on our use of AI, please visit our Editorial Standards page.