The number of people in the world with investable assets of €100 million or more, known as centi-millionaires, has jumped by 12% in a year. Once again, Monaco is home to a large portion of them, but it’s nothing compared to how many there will be within a decade.
There are 28,420 centi-millionaires in the world today, according to the 2023 Centi-Millionaire Report released on 10th October by investment advisors Henley & Partners.
This number is up by more than 50% over two decades ago, and an increase of 12% on last year, highlighting how incredibly fast the number of individuals whose worth is at or over $100 million is growing.
USA TOPS THE LIST
At a national level, the US reigns supreme for centi-millionaires, or “centis” as they’re called. Around 38% are concentrated there, followed by China and India.
When broken down to a city level, one-third of the world’s centis live in 50 key municipalities, with New York City, perhaps unsurprisingly, at the top of the rankings with 775 of these uber-rich people living in the metropolis, followed by San Francisco Bay Area with 692, Los Angeles with 504, London with 388 and Beijing close behind with 365.
MONACO’S CENTI-MILLIONAIRES SET TO INCREASE SIGNIFICANTLY
Monaco came in at 21st place, with a community of 178 centis living within its borders. Moreso, the world’s most expensive city is projected to see its number of centi-millionaires grow by an astonishing 78% over the next decade.
Other cities anticipated to see their centimillionaire populations swell significantly in the next 10 years are the Asian hubs of Mumbai, Delhi, Dubai, Shenzhen, Guangzhou and Hangzhou in China, with the Hangzhou anticipating a 95% centi growth.
The numbers in Australia also look poised to increase sharply — by 67% in Melbourne, 60% in Sydney, and 57% in Perth. Austin in the US state of Texas and Riyadh, Saudi Arabia will also see a swell in their centimillionaire populations.
The cities with the lowest expected increase in the coming years will be Moscow, Chicago, and London, who lost ground even in the past year by 4.4%.
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