According to the Henley & Partners Centi-Millionaire Report 2024, the global population of centi-millionaires has increased by 54% over the past decade, reaching over 29 300 individuals. Below are the world’s wealth capitals, i.e. the cities where you will find the most centi-millionaires.
What is a centi-millionaire?
According to Business Day, centi-millionaires are individuals with assets exceeding USD 100 million. So, it refers to people with a net worth of at least USD 100 million dollars. These ultra-high net worth individuals are not yet billionaires, but billionaire status is not far off for them.
Certain urban centres draw more centi-millionaires than others due to their robust financial sectors, technological advancements, and dynamic business environments.
There are four levels of millionaires: millionaires, multi-millionaires, deca-millionaires, and centi-millionaires (also called hecto-millionaires).
The latest Henley & Partners Centi-Millionaire Report indicated that the global population of centi-millionaires has increased by 54% over the past decade, with the US and China accounting for most of this growth.
Markedly, China’s centi-millionaire population grew by 108%, while the US saw an 81% increase.
The world’s wealth capitals for centi-millionaires
Not surprisingly, New York City tops the list with more than 740 centi-millionaires. CBS News reported that nearly one in every 24 residents of New York City is a millionaire. It is also home to approximately 60 billionaires. The combined total wealth of the city’s residents is greater than USD 3 trillion.
New York City is one of the biggest financial centres in the world, featuring Wall Street and a ton of multinational companies, investment firms, hedge funds, and real estate giants. The economy in this city is really varied, covering areas like finance, media, technology, fashion, and real estate. The countless business opportunities, strong infrastructure, and its rich history of drawing in talent and wealth from all over the globe are some of the city’s most appealing factors for businesspeople.
| Rank | City | Country |
| 1 | New York City | US |
| 2 | The Bay Area | US |
| 3 | Los Angeles | US |
| 4 | London | UK |
| 5 | Beijing | China |
| 6 | Singapore | Singapore |
| 7 | Shanghai | China |
| 8 | Hong Kong | Hong Kong (SAR China) |
| 9 | Chicago | US |
| 10 | Paris | France |
| 11 | Tokyo | Japan |
| 12 | Houston | US |
| 13 | Geneva | Switzerland |
| 14 | Mumbai | India |
| 15 | Dubai | UAE |
Are you surprised by any of the cities on this list?
Let us know by clicking on the comment tab below this article.
You can also email info@thesouthafrican.com or send a WhatsApp to 060 011 021 1.
Also, follow @TheSAnews on X and The South African on Facebook for the latest news.
