Milan is the world’s leading city for the ratio of residents to millionaires: for every 12 inhabitants, at least one has a six-figure net worth, excluding real estate. In Paris, this ratio is 1 to 14; in New York, 1 to 22; in London, 1 to 41; and in Rome, 1 to 54. The figures come from the annual report of London-based analysts Henley & Partners, which has been reproduced by Il Sole24Ore. Some could argue that having a million euros in your wallet does not make you a millionaire, but rather a wealthy individual. Yet even higher up the wealth ladder, Milan remains at the top. The "centimillionaires"—individuals possessing at least one hundred million units, excluding real estate—residing in Milan total 182. This figure is barely below that of Monte Carlo (192) but exceeds the numbers in Miami, Moscow, and Zurich, including the canton. This indicates that there is one super-rich person for every 7,692 Milanese, which is roughly equal to Los Angeles or Paris but significantly higher than New York (one in 10,000) and London (one in 25,000). Italy's image as a magnet for billionaires stems from low inheritance taxes and the Renzi government's controversial "Ronaldo decree" in 2017, which promised imported rich people a flat tax of €100,000, which was raised to €200,000 last year and is anticipated to grow to €300,000 in the coming year. Small change. The result is that around 3,600 wealthy individuals moved to Italy in 2025, bringing with them more than $20 billion.