Mumbai, Delhi among 50 cities with highest centi-millionaire count

Mumbai and Delhi feature in Henley & Partners’ Centi-Millionaire Report 2024, which lists the world’s top 50 cities in terms of resident centi-millionaires.

Centi-millionaires are individuals with minimum liquid investable wealth of $100 million. Liquid investable wealth includes cash holdings, debt-free residential property holdings and listed company holdings. The report says over 60 per cent of centi-millionaires currently are entrepreneurs.

MUMBAI, DELHI MAKE THE LIST

Mumbai is 14th on the list with 236 centi-millionaires while Delhi is at number 28 with 120. Notably, Bengaluru, which doesn’t make the top 50 this year, has a high projected growth rate for centi-millionaires at 150 per cent over the next 16 years. The city shares the high percentage of growth with Riyadh, Saudi Arabia.

CHINA HEADS SUPER-RICH CLUB

The global count of centi-millionaires at the moment is 29,350 individuals, says the report that features data from the global wealth intelligence firm New World Wealth. Over the past decade, there has been a 54 per cent increase in centi-millionaires all over the world.

Among nations, China recorded an impressive surge in the number of centi-millionaires at a rate of 108 per cent in the last 10 years while the population of this super-rich club grew by 81 per cent in the United States. All the European countries put together had a total increase of just 26 per cent in their centi-millionaire count over the past decade.

US HAS TOP 3 CENTI-CITIES

A city-wise analysis in the report shows that the top 50 cities having centi-millionaires are mostly in nations with investment migration programs.

The US leads the list in terms of cities, with the three top centi-cities in that country. Overall the US has 15 cities on the Top 50 list.

New York City with 744 resident centi-millionaires is the top centi-city in the world, while the Bay Area comprising San Francisco and Silicon Valley, with 675 centi-millionaires, takes the second spot. Los Angeles with 496 resident centi-millionaires is at number three. All three cities are predicted to have a growth of more than 50 per cent in their centi-millionaire count over the next decade.

Although London with 370 centi-millionaires occupies the fourth spot, most of Europe is falling behind. Asian cities, on the other hand, have lately been witnessing a rise as far as the number of super-rich is concerned.

China’s Capital Beijing is fifth on the list with 347 centi-millionaires while Singapore is at number six with 336. Shanghai is placed seventh with 322 centi-millionaires and Hong Kong (SAR China) holds the eighth spot with 320 centi-millionaires.

The United States returns on the list next, with Chicago occupying the ninth spot. The city has 290 centi-millionaires. The French Capital Paris claims the 10th spot on the list with 286 super-rich individuals having liquid investable wealth of $100 million or more.

(Figures and data sourced from www.henleyglobal.com)