The global elite of highly influential super-wealthy movers and shakers numbers 28,420 and each has investable assets of $100 million or more, according to the 2023 Centi-Millionaire Report, released this week by Henley & Partners, a wealth and investment migration advisory firm. Data in the report from New World Wealth, a global wealth intelligence firm, indicates that the number of centimillionaires in 2023 is more than double the number 20 years ago and has increased by 12% since last year. At the country level, 38% of centimillionaires are concentrated in the United States, followed by China and India. A third of this elite group live in 50 global cities. Juerg Steffen, chief executive of Henley & Partners, noted in a statement that the $100 million-plus band represents today's best definition of what it means to be super-wealthy. "Not long ago, in the late 1990s, $30 million was considered by most banks as the fortune that was needed to meet this status," Steffen said. "However, asset prices have risen significantly since then, making $100 million the new benchmark."
According to the research, two Chinese cities in the top 50 are expected to experience the highest growth in their centimillionaire populations over the next decade: Hangzhou, an e-commerce hub, with a projected 95% increase; and Shenzhen, the prominent tech hub, with 88% growth. The emerging global business center of Riyadh, in Saudi Arabia, and India's largest commercial hub, Delhi, each have projected growth of 85% between now and 2033. Tech-friendly Austin, Texas, also has a very strong growth projection of 84% by 2033. The number of centimillionaires in Dubai, with its vibrant and diversified economy, is projected to grow by 78% over the next 10 years, followed by Guangzhou, China's main transport and trading nexus, at 76%, and Monaco, the world's most expensive city, at 72%. The number of centimillionaires in Australia also looks poised to increase sharply, according to the study: by 67% in Melbourne, 60% in Sydney and 57% in Perth. See the accompanying gallery for the 15 cities with the most centimillionaires in 2023, according to Henley & Partners.
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