Centi-Millionaires: A Wealth Band of Affluence and Influence
Dr. Juerg Steffen
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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.
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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.
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. |
We consider wealth to be a far better measure of the financial health of an economy than GDP. The reasons for this include:
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
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The Centi-Millionaire Report 2023 was published on 10 October 2023.
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