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Laxman Pai, Opalesque Asia: The population of the super wealthy, or those worth $100 million or more, doubled over the past 20 years as asset prices soared around the world, said a report.
There are now 28,420 so-called centi-millionaires worldwide, up 12% over last year and more than twice the number in 2003, according to a new report from Henley & Partners, a wealth and migration advisory firm, which used data from New World Wealth.
According to the report, this fast-growing global elite of highly influential super-wealthy movers and shakers boast investable assets of US$100 million or more.
As outlined in the inaugural report last year, at a country level, most centi-millionaires (or 'centis') are concentrated in the USA (38%), followed by the large emerging markets of China and India. One-third of the world's centi-millionaire community live in 50 key cities across the globe, with New York City wearing the crown with 775 resident centi-millionaires.
Meanwhile, hot on the heels of NYC in first place comes the Bay Area with 692 resident centi-millionaires, followed by Los Angeles with 504 centis. This super-rich cohort has grown by just over 5% in the Big Apple over the past 12 months, compared to 11% in the Bay Area.
Chicago also makes it into the Top 10, securing 9th place with 286 centi-millionaires, but this is a significant drop of nearly 16% compared to last year. Overall, the USA has 12 cities in the Top 50, with a combined total of 3,...................... To view our full article Click here
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