This millionaire cheesecake became my signature when I wanted to make an over-the-top dessert for a holiday gathering. I discovered the balance between a crisp shortbread base, a luxuriously smooth caramel-swirl filling, and a glossy chocolate top during a long afternoon of recipe testing. The first time I served it, the caramel pooled slightly over the cut slices and everyone reached for seconds; it was the sweetest kind of chaos and a memory I still laugh about. It matters because this layered treat tastes like indulgence but slices cleanly when properly chilled, making it perfect for celebrations.

I first made this version after adapting a classic New York style custard to include a cooked caramel made from sweetened condensed milk and brown sugar. The texture is creamy and dense without being rubbery, the shortbread adds a tender buttery contrast, and the ganache brings a refined finish with just enough bitterness to balance the sugar. The salted flake garnish at the end lifts the flavors, turning every bite into a melody of textures and tastes. Make it for a special occasion or when you want to impress friends with a dramatic dessert that keeps well in the fridge.

Ingredients

• Caramel Topping: One 14-ounce can of sweetened condensed milk, unsalted butter, packed light brown sugar, light corn syrup, a pinch of fine salt, and vanilla. The cooked caramel adds deep toffee notes and becomes spreadable after cooling.
• Shortbread Crust: Classic shortbread made with room-temperature unsalted butter, all-purpose flour, powdered sugar, and a touch of fine salt. Use a good European-style butter for extra flavor and press the dough evenly for a crisp, tender base.
• Caramel Custard: Full-fat cream cheese, granulated sugar combined with cornstarch to stabilize, eggs at room temperature, full-fat sour cream for silkiness, plus reserved caramel and vanilla to flavor the custard.
• Chocolate Ganache: Heavy whipping cream, dark or semi-sweet chocolate chips, unsalted butter, optional corn syrup for shine, and a little salt. The ganache should be glossy and pourable when cool but still spreadable.
• Garnish: Flaky sea salt for finishing. It contrasts the sweetness and makes every slice pop.

Instructions

Make the Caramel Topping: Combine one 14-ounce can sweetened condensed milk, 1/2 cup unsalted butter cut into pieces, 1/2 cup packed light brown sugar, 1/4 cup light corn syrup, and 1/2 teaspoon fine salt in a heavy-bottomed saucepan over medium heat. Stir frequently. Once it begins to bubble around the edges or reaches 212°F on a candy thermometer, reduce to low and simmer, stirring until it thickens to a medium caramel color, about 8 to 12 minutes. Drag a spatula through the mixture to check consistency. Remove from heat and stir in 1 teaspoon vanilla. Cool to room temperature in a separate container. Prepare the Shortbread Crust: Preheat oven to 350°F. Spray an 8-inch springform pan and line the base with parchment. Cut 1/2 cup room-temperature unsalted butter into 1 cup all-purpose flour, 1/4 cup powdered sugar, and 1/4 teaspoon fine salt using a fork or pastry cutter until a soft dough forms. Press evenly into the bottom of the pan, prick with a fork to vent, and bake 22 to 25 minutes until edges just brown. Cool on a wire rack. Lower the oven to 300°F and place a rimmed tray filled with about 1 inch of water on the lower rack. Make the Custard Filling: Whisk 1 1/3 cups granulated sugar with 2 tablespoons cornstarch to prevent lumps. Beat four 8-ounce packages of room-temperature cream cheese with the sugar mixture on low speed until completely smooth, scraping the bowl. Whisk four large room-temperature eggs and add gradually while mixing on low to avoid over aeration. Mix in 2/3 cup full-fat sour cream, 1/2 cup room-temperature caramel, and 1 teaspoon vanilla until just combined. Pour over the cooled crust. The 8-inch pan will be nearly full; cheesecake does not rise significantly. Bake Low and Slow: Place the cheesecake on a large baking sheet and bake at 300°F for 20 minutes. Without opening the door, reduce oven to 225°F and continue baking for about 2 hours until the edges are set and the center is slightly jiggly. Turn oven off and let the cheesecake sit inside for 1 hour. Remove to cool at room temperature for a few hours, then cover and refrigerate 3 to 4 hours or overnight for best texture. Prepare the Ganache: In a heatproof bowl warm 1/2 cup heavy whipping cream until just bubbling. Pour over 2/3 cup dark or semi-sweet chocolate chips. Let sit for one minute, then stir until smooth. Add 2 tablespoons unsalted butter, 1 tablespoon corn syrup if using, and 1/4 teaspoon fine salt. Cover to prevent skin and cool to room temperature so it thickens but remains spreadable. Assemble and Chill: Release the cooled cheesecake from the pan. Spread 1/2 cup room-temperature caramel over the top in an even layer, chill 10 minutes to set, then spread the chilled ganache over the caramel. Sprinkle with flaky sea salt. Use a warm, dry knife for clean slices, wiping between cuts. Store chilled in an airtight container for up to one week.

Storage Tips

Store in the refrigerator in an airtight container or wrapped tightly with plastic wrap and foil. Slices keep their best texture for up to one week. If freezing, flash-freeze slices on a baking sheet until firm, then wrap individually and place in a freezer-safe container for up to three months. To thaw, move to the refrigerator overnight. If you prefer fresh ganache and caramel texture after freezing, wait to add the toppings until after thawing. Always allow chilled cheesecake to sit at room temperature for 10 to 15 minutes before serving to soften slightly for best flavor release.

Ingredient Substitutions

You can swap the shortbread base for a graham cracker crust using 1 1/2 cups crushed graham crackers, 5 tablespoons melted butter, and 2 tablespoons sugar pressed into the pan. For a gluten-free option, use almond flour mixed with melted butter and a touch of powdered sugar. To make the ganache milder, use a high-quality milk chocolate and increase the chocolate by volume to 2 cups. For a lighter custard, substitute Greek yogurt for part of the sour cream but expect a tangier finish and slightly different texture.

Serving Suggestions

Serve thin slices with a dollop of whipped cream or a small scoop of vanilla bean ice cream for contrast. Fresh berries, particularly raspberries, add bright acidity that balances the sweet caramel. For a dramatic presentation, drizzle additional warm caramel in a zigzag pattern and sprinkle extra flaky salt. This dessert pairs well with strong coffee or an espresso martini to cut through richness and refresh the palate between bites.

Cultural Background

Layered cheesecakes like this draw on classic American and European techniques. The shortbread base nods to British butter cookie traditions while the dense cream cheese custard is a hallmark of American cheesecake styles. The name evokes the British confection known as millionaire's shortbread, which layers shortbread, caramel, and chocolate. This version adapts those flavors into a more formal custard-centered format, blending traditions into a modern American celebration dessert.

Seasonal Adaptations

Autumn variations can include a touch of pumpkin puree and warm spices folded into the custard, though reduce caramel slightly to keep balance. In summer, top with macerated berries and omit the heavy ganache for a lighter finish. For winter holidays, fold a teaspoon of cinnamon into the caramel and garnish with crushed toasted pecans for a festive crunch. The technique remains the same across seasons, so swap flavors without changing baking timing.

Meal Prep Tips

Prepare the caramel and ganache the day before to reduce day-of work. Bake the crust and chill it while you make the custard. After baking and cooling, wrap tightly and refrigerate overnight to let the flavors meld. Assemble the final layers a few hours before guests arrive so it has time to set but still stays fresh. For bars, use 8 by 8 or quarter sheet pans and adapt bake times as noted earlier, then cut into portable portions for lunches or events.

This layered dessert brings joy to any table and is forgiving for home cooks. With a bit of patience and careful chilling, you will be rewarded with glossy slices that taste far more complex than the effort suggests. Make it your own and enjoy the compliments that follow.