America continues to lead the world in centi-millionaires, but is that set to change?

America continues to lead the world in centi-millionaires, but is that set to change?
More Americans with $100M wealth are considering international options.
SEP 18, 2024

The number of individuals who have wealth of at least US$100 million continues to grow globally, led by the United States.

There are now 29,350 people in the elite club according to the newly released Centi-Millionaires Report from wealth and investment migration specialists Henley & Partners. Over the past decade this wealthy population has grown 54% globally including an 81% rise in the US and a 108% rise in China.  

The report shows that one third of centi-millionaires live in just 50 of the world’s cities, led by three in the US – New York (with 744 centi-millionaires), the Bay Area (675), and Los Angeles (496) – which has a total of 15 in the list. 

But this could change, as David Young from the Conference Board explains.

“Existing centi-millionaire growth and migration trends will depend largely on the upcoming US presidential elections where we anticipate drastic differences in fiscal, monetary, economic, and social policies,” he said. “The results may cause a shift from North America being so attractive, as centis turn to countries that provide greater economic and political security.”

Dr. Juerg Steffen, CEO of Henley & Partners, says that his firm has seen a surge in Americans seeking advice on investment migration programs in the last year.

"We are witnessing a fascinating paradox. On one hand, the US remains the world's top wealth hub, accounting for over 30% of global liquid investable wealth — a massive $67 trillion. Yet, on the other hand, we're seeing an unprecedented surge in affluent Americans seeking alternative residence and citizenship options,” he said.

Looking ahead to 2040, several Asian and Middle Eastern cities are poised for explosive growth, with Hangzhou, Shenzhen, Taipei, Dubai, and Abu Dhabi projected to see increases of over 150% in their centi-millionaire communities.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.