Global Cities with the Most Centi-Millionaires

According to New World Wealth's estimates, there are approximately 29,350 individuals worldwide who possess fortunes exceeding $100 million. This information is visually represented in a graphic by Bruno Venditti of Visual Capitalist, which ranks the top 10 cities with the highest number of centi-millionaires. The data was compiled by Henley & Partners as of December 2023. New World Wealth tracked the wealth of over 150,000 high-net-worth individuals, using platforms such as LinkedIn and other business sources to verify the city locations. Some cities in the graphic represent urban areas that encompass the major city and its surrounding regions.

The Abode of Centi-Millionaires

Over the past decade, the threshold for being classified as "super-wealthy" has significantly increased. In the late 1990s, it was $30 million, but today it stands at $100 million. The number of centi-millionaires has surged by more than 50% in the past decade. New York leads the pack with 744 individuals possessing wealth of $100 million or more. The Bay Area, which includes San Francisco and Silicon Valley, follows closely with 675. Both cities are projected to witness a growth of over 50% in their ultra-wealthy populations in the next 10 years. The U.S. has a strong presence on the list with four cities featured. The ranking also includes Paris and London from Europe, and Shanghai, Singapore, Hong Kong, and Beijing from Asia. For more interesting information, you might want to check out "Ranked: Countries With the Highest GDP Per Capita in 2024", which compares countries and regions with the highest nominal GDP per capita in 2024 to those in 2014.

Bottom Line

The rise in the number of centi-millionaires over the past decade is a testament to the increasing wealth disparity worldwide. It's fascinating to see how the threshold for super-wealthy status has risen and how it's projected to continue to grow. What are your thoughts on this wealth distribution and the cities that house the majority of these ultra-wealthy individuals? Feel free to share this article with your friends and discuss. Don't forget to sign up for the Daily Briefing, available every day at 6pm.