Callback Contact +1 514 288 1997
The Global Leader in
Residence and Citizenship by Investment

The Centi-Millionaire Report 2023

How much money does one need to be considered ‘super-wealthy’ today? In the 2020s, the benchmark is holding USD 100 million in investable assets — marking the ‘centi-millionaires’. These affluent individuals are typically the founders of large multi-national companies or the heirs to vast family fortunes. There are only 28,420 centi-millionaires in the world (as at June 2023), making this a very elite club. The Centi-Millionaire Report includes exclusive statistics on centi-millionaires provided by global wealth intelligence firm New World Wealth. Read expert insights here and the methodology here.

A metallic private jet flying over a snowy forest

The Centi-Millionaire

The Spending Habits of Centi-Millionaires

The Wealth Management Strategies of Centi-Millionaires

Methodology

Henley & Partners has collaborated with wealth intelligence firm New World Wealth to produce the 2023 edition of The Centi-Millionaire Report.

New World Wealth is currently the only known independent wealth research firm systematically tracking global wealth migration trends between countries and cities. The firm was established in 2013 and has been tracking the movements and spending habits of the world’s wealthiest people for a decade.

New World Wealth has an impressive track record in providing robust, reliable wealth data and insights for key publications, such as Knight Frank’s Wealth Report, AfrAsia Bank’s Global Wealth Migration Review, and Henley & Partners’ Africa Wealth Report, USA Wealth Report, and the Crypto Wealth Report, as well as the Henley Private Wealth Migration Dashboard.. The firm’s reports and findings have been referenced by the Australian and UK governments, as well as by global news outlets such as the BBC, Bloomberg, CNN, the Financial Times, Forbes, the New York Times, Robb Report, and The Telegraph.

New World Wealth tracks the movements of over 150,000 high-net-worth individuals in its in-house database, with a special focus on individuals with over USD 100 million in listed company holdings. The database is mainly focused on company founders and affluent individuals from high value companies with the following work titles: chairperson, CEO, president, director, and managing partner.

New World Wealth relies primarily on this database when assessing the city wealth breakdowns featured in this report. The firm uses various public sources to check city locations, including LinkedIn and other business portals. The data also takes into account prime property statistics. Specifically, it considers the number of highly priced homes in each city/area.

Note: It should be noted that New World Wealth never gives out the names of the individuals in its database, which it uses purely for in-house statistical studies.

Notes and definitions

  • The term ‘centi-millionaires’ refers to individuals with investable wealth of USD 100 million or more.
  • For our purposes ‘investable wealth’ refers to an individual’s net investable assets. It includes all their liquid investable assets (listed company holdings, cash and residential property) less any related liabilities.

City definitions

We take into account the normal city limits of all the cities mentioned in this report, with the exception of the cities/areas listed below.

Bay Area

Includes the city of San Francisco and the area known as Silicon Valley.

Carmel-by-the-Sea

Includes Carmel-by-the-Sea, as well as Del Monte Forest, Monterey, and Pebble Beach.

Geneva

Refers to the Canton of Geneva.

Golden Triangle, Algarve

Includes Vilamoura, Almancil, Quinta do Lago and Vale do Lobo.

Los Angeles

Includes the city of Los Angeles, as well as Beverly Hills, Malibu, Newport Beach, Laguna Beach, and Santa Monica.

Miami

Miami includes Miami (city) and Miami Beach (island).

Zurich

Refers to the Canton of Zurich.

Wealth versus GDP

We consider wealth to be a far better measure of the financial health of an economy than GDP. The reasons for this include:

  • In many developing countries, a large portion of GDP flows to the government and therefore has little impact on private wealth creation.
  • GDP counts items multiple times. For instance, if someone is paid USD 100 for a product/service and they then pay someone else that same USD 100 for another product/service, then that adds USD 200 to a country’s GDP, despite the fact that only USD 100 was produced at the start.
  • GDP ignores the efficiency of a country’s local banking sector and the local stock market in retaining wealth in a country.
  • GDP largely ignores the impact of property and stock market moves, yet these two factors clearly have a significant impact on wealth.
  • GDP is a relatively static measure that tends to move only slightly year on year. It also has a time lag.

Wealth figures, on the other hand, have none of these limitations, making them a far more accurate gauge of the financial health of an economy than its GDP figures.

For more information on New World Wealth, please visit newworldwealth.com

Disclaimer

© 2023 Henley & Partners. All rights reserved. The H&P monogram and Henley & Partners logo and related brand assets are the exclusively owned or licensed trademarks, service marks, and logos of Henley & Partners. All other trademarks, service marks, and logos used in this report are the trademarks, service marks, and logos of their respective owners. No part of this report may be reproduced in any form or by any means without the prior written permission of Henley & Partners. Although the material contained in this report was prepared based on information from public and private sources that Henley & Partners believes to be reliable, no representation, warranty, or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and Henley & Partners expressly disclaims any liability for the accuracy and completeness of information contained herein.

This report is distributed for general informational and educational purposes only and is not intended to constitute legal, tax, accounting, or investment advice. It should not form the basis of any decision. The information contained in this report is not, and shall not constitute an offer to sell, a solicitation of an offer to buy or an offer to purchase any securities, nor should it be deemed to be an offer, or a solicitation of an offer, to purchase or sell any investment product or service. Henley & Partners is not responsible for the content of websites and information resources that may be referenced in this report. The information contained in this report is believed to be accurate as of the date of publication, but is subject to change without notice. Henley & Partners does not have any obligation to provide revisions in the event of changed circumstances. Henley & Partners and its affiliates, employees, and agents shall not be liable for any liability or loss whatsoever, including but not limited to direct, indirect, special, incidental, or consequential damages, arising out of or in connection with the use or reliance on the information contained in this report. The information in this report is provided “as is” and Henley & Partners makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the information contained in this report for any purpose.

The Centi-Millionaire Report 2023 was published on 10 October 2023.

REQUEST A CALLBACK

We use cookies to give you the best possible experience. Click Accept all to proceed as specified, or click Allow selection to choose the types of cookies you will accept. For more information please visit our Cookies Policy.

Loading...