US and Chinese cities topped the ranks worldwide as homes to the largest population of centi-millionaires, according to a report by investment immigration consultancy Henley & Partners.
US and China accounted for seven out of the top 10 cities and areas with the largest population of centa-millionaires – individuals with $100 million in wealth or above – according to a report by Henley & Partners.
New York City was the global leader at 775 centi-millionaires. In second place was the Bay Area (692) followed by Los Angeles (504), London (388), Beijing (365), Shanghai (332), Singapore (330), Hong Kong (305), Chicago (280) and Paris and Ile-de-France (280).
India’s Emergence
Asia is also prominently featured in the top ranks of cities with the fastest projected growth in centi-millionaire population. In addition to China, India is also a leader with two cities in this category.
Hangzhou is expected to see the highest growth rate with centa-millionaires surging 95 percent to 98 between 2023 and 2033. This was followed by Shenzhen (88 percent to 154) as the runner-up and Delhi (85 percent to 126) as the second runner-up.
Other Asian cities at the top are Mumbai at sixth place (80 percent to 224) and Guangzhou at eighth place (76 percent to 68).
Developed Asian Markets
At the same time, top cities in the region are also amongst those with the lowest expected growth rate.
Hong Kong was the sixth slowest grower, with expectations of just a 24 percent increase to 305 centi-millionaires between 2023 and 2033. This was followed by Tokyo (25 percent to 275), Seoul (25 percent to 185), Taipei (25 percent to 82) and Osaka (28 percent to 70).
