India, April 11 -- Thousands of millionaires have left London for the United States and parts of Asia in the past year, according to a new report released on Wednesday.

According to the annual World's Wealthiest Cities Report published by advisory firm Henley & Partners and data intelligence company New World Wealth, some 11,300 millionaires exited London in 2024.

London now has 215,700 dollar millionaires, down from 227,000 in 2023, the report found.

The British capital was pushed into sixth place by Los Angeles (with 220,600 millionaires) in the top 50 cities for millionaires.

Besides London, Moscow is the only other city in the top 50 which has fallen, suffering a 25% decline due to Russia's invasion of Ukraine in 2022.

This trend...