The number of centi-millionaires worldwide has reached a remarkable 28,420 individuals, more than doubling in the past two decades, according to the 2023 Centi-Millionaire Report released by Henley & Partners, a prominent wealth and investment migration advisory firm.
This exclusive report draws on data from New World Wealth, a global wealth intelligence firm. It reveals that the centi-millionaire population has experienced a 12% increase compared to the previous year.
Centi-millionaires are defined as individuals with investable assets totaling $100 million or more. Their remarkable growth underscores the rise of a highly influential global elite of super-wealthy individuals.
At the national level, the majority of centi-millionaires, often referred to as ‘centis,’ are concentrated in the United States, accounting for 38% of this exclusive group. China and India, two of the world’s largest emerging markets, follow closely behind.
On a more granular level, approximately one-third of the world’s centi-millionaires reside in 50 key cities across the globe. Topping this list is New York City (NYC), home to an impressive 775 resident centi-millionaires. The Bay Area, renowned for its tech industry, boasts 692 resident centi-millionaires, securing the second spot, followed by Los Angeles with 504 centis. Over the past year, NYC’s centi-millionaire population has grown by slightly over 5%, while the Bay Area has experienced an 11% increase.
Overall, the United States claims a significant share of the world’s centi-millionaires, with 12 cities in the top 50, totaling 3,311 centis, representing 11.7% of the global centi-millionaire population as of June this year.
|Rank||City/Region||Number of Centi-Millionaires||Change Since Last Year|
|1||New York City, USA||775||+5.2%|
|2||Bay Area, USA||692||+11.1%|
|3||Los Angeles, USA||504||+28.2%|
|8||Hong Kong (SAR China)||305||+8.9%|
In contrast, the United Kingdom (UK) has just one city in the top 50, with London ranking fourth and housing 388 centi-millionaires, making up 1.4% of the global centi population.
The report also highlights Asia’s robust presence among the top rankings. Four Asian cities and territories secure places in the world’s top 10 centi-millionaire hotspots. Mainland China boasts two top-10 cities, with Beijing ranking fifth and Shanghai in sixth place. Singapore follows closely in seventh place, with Hong Kong (SAR China) securing the eighth spot.
Among the top 50 cities, Hangzhou, a thriving e-commerce hub in China, is expected to experience the most significant growth in its centi-millionaire population over the next decade, with a projected 95% increase. Shenzhen, a prominent tech hub, is close behind with an anticipated 88% growth rate.
The report by Henley & Partners offers valuable insights into the evolving landscape of extreme wealth distribution and the influence of global economic trends on the super-wealthy.