Key Takeaways
- There are nearly 30,000 centi-millionaires—those with investable assets of at least $100 million—worldwide, according to a new report.
- New York, the Bay Area, and Los Angeles have the most centi-millionaires, according to Henley & Partners.
- In the past decade, the number of centi-millionaires in the U.S. and China grew by 81% and 108%, respectively.
If you have to ask what a "centi-millionaire" is, you probably aren't one. But if you are, according to a new report, there's a chance you can be found in just a few U.S. cities.
New York, the Bay Area, and Los Angeles are the cities with the most centi﷽-millionaires—those with liquid investable assets of at least $100 million or more—according to Henley & Partners, an investment migration advisory firm. Worldwide, the report said, nearly 30,000 people made the cut.
The report found that the number of ultra-wealthy individuals have grown substantially in the U.S. and China in recent years. In the past decade, the number of centi-millionaires in the U.S. and China grew by 81% and 108%, respective꧃ly. Europe, in comparison, has 🌞seen its number of centi-millionairs rise 26% in the last 10 years.
Cities That Have The Most Centi-Millionaires
There are now 29,350 individuals worldwide considered centi-millionaires, according to Henley, whose report doesn't name them. These were the top 10 cities and areas worldwide with the most centi-millionaires:
- New York City: 744 centi-millionaires
- The Bay Area (includes San Francisco): 674
- Los Angeles: 496
- London: 370
- Beijing: 347
- Singapore: 336
- Shanghai: 322
- Chicago: 290
- Paris: 286
Six in 10 centi-millionaires are founders, according to Andrew Amolis, head of research at New World Wealt🅺h, which conducted🎀 the research used in the Henley report.
“It is also worth noting that most of the companies on the Fortune 500, the S&P 500, the CAC 40, the FTSE 100 and the Nikkei 225 were started by individuals who went on to become centi-millionaires,” Amoils said.