Summary:
The term "centi-millionaires" refers to individuals with investable assets exceeding $100 million.
According to the 2023 Centi-Millionaire Report from wealth advisory firm Henley & Partners, the global centi-millionaire population has more than doubled over the past two decades, reaching 28,420 individuals. The U.S. leads with 38% of centi-millionaires, and New York City alone is home to 775 of them. Projections indicate significant growth in centi-millionaires in Hangzhou and Shenzhen in China.
Details:
- The number of centi-millionaires globally has more than doubled to 28,420 in the past 20 years.
- The U.S. has 38% of the world's centi-millionaires, with New York City hosting 775, followed by the San Francisco Bay Area and Los Angeles.
- Asset prices have elevated the benchmark for centi-millionaires from $30 million in the late 1990s to $100 million.
- London is the only U.K. city in the Top 50, with 388 centi-millionaires.
- China has two cities in the Top 10, with Beijing and Shanghai ranking fifth and sixth, respectively.
- Hangzhou and Shenzhen in China are expected to experience a 95% and 88% increase in centi-millionaires in the next decade.
- Riyadh, Delhi, and Mumbai are projected to grow their centi-millionaire populations by 85%, 85%, and 80%, respectively, by 2033.
- Austin, Texas, is expected to see an 84% growth in centi-millionaires by 2033.
- Growth projections for Los Angeles, London, and Chicago are 17%, 12%, and 6%, respectively, by 2033.
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