The global population of ultra-rich individuals with liquid investable assets of $100 million or more now stands at 29,350, according to the 2024 Centi-Millionaire Report from Henley & Partners, a wealth and migration advisory firm.
New World Wealth, a global wealth intelligence firm that provides exclusive data to the report, found that the club of centimillionaires has grown globally by 54% over the past decade, with the United States and China experiencing a boom and significantly outperforming their European counterparts.
China's ascent has been especially dramatic, with its centimillionaire population expanding by 108% over the past 10 years, compared with 81% growth in America's super-wealthy ranks. In contrast, Europe's centimillionaire growth increased by 26% over the past decade.
The report shows that one-third of the world's centimillionaires reside in 50 key cities, including 15 in the United States. The top cities in the latter group have not only maintained their leading positions globally over the past decade but are also expected to experience growth of 50% or more in their ultra-wealthy populations over the next decade.However, "existing centimillionaire growth and migration trends will depend largely on the upcoming U.S. presidential elections where we anticipate drastic differences in fiscal, monetary, economic and social policies," The Conference Board's David Young wrote in the report.
The results, Young said, may cause centimillionaires to shift from North America, which they find so attractive, to countries that provide greater economic and political security.
Juerg Steffen, Henley & Partners chief executive, said in a statement that wealthy Americans have become his firm's biggest client cohort, with a five-fold increase in investment migration inquiries this year.
"We are witnessing a fascinating paradox," Steffen said. "On one hand, the U.S. remains the world's top wealth hub, accounting for over 30% of global liquid investable wealth — a massive $67 trillion. Yet, on the other hand, we're seeing an unprecedented surge in affluent Americans seeking alternative residence and citizenship options."
Several Asian and Middle Eastern cities are poised for explosive growth, according to the report. Hangzhou and Shenzhen in China, Taipei City, Dubai and Abu Dhabi are projected to see increases of more than 150% in their centimillionaire communities.
Emerging markets are also set to make their mark. Over the next 16 years, Riyadh, Saudi Arabia, and Bengaluru, India, are forecast to enjoy growth of 150% or more in their centimillionaire populations.
In contrast, some of the world's more established capitals, such as Moscow, Zurich and Madrid, are projected to experience super-wealth growth of less than 50% between now and 2040.
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