Billionaires might be sweeping most limelight, but a new class of super-rich category has outnumbered them by nearly 10-to-1. This class is known as Centi-Millionaires.
While this may come as a surprise to many, India has the third-highest number of Centi-Millionaires in the world as per the first-ever global study conducted on centi-millionaires.
Out of the world’s 25,490 centi-millionaires, India has a significant 1,132, and it has surpassed countries like the United Kingdom, Russia, and Switzerland, in a powerful and swift-growing class of super-rich financiers, tech titans, heirs, and multinational CEOs.
It is anticipated that India will beat the number two on the ranking, China, as the fastest emerging market for centi-millionaires by 2032.
Have a rundown of this piece to know about this new class of ultra-rich, their future trends, where they are located and more.
Table of contents
Who are Centi-Millionaires?
Centi-Millionaires are people possessing investable assets of over $100 million or ₹ 830 crores. These are the new global citizens for whom multinational living has become essential to their wealth management tactics.
You would have been considered super wealthy if you had $30 million in the 1990s. However, today, there has been a significant rise in asset prices, setting a new benchmark of $100 million to be called ultra or super-rich.
Some of you might wonder if there’s any fixed path to achieving a centi-millionaire status. The answer is no!
While some people worked hard to reach the $100 million mark, others simply inherited their wealth.
Henley & Partners’ study encountered some noteworthy generational discrepancies. The founders of successful tech companies are rising newcomers in the category. On the other hand, Baby Boomers have begun selling off their businesses and cashing in stock options. However, they are still monopolising the centi-millionaire circle.
Top 10 Countries in the Centi-Millionaire Report 2022
According to the reports of Henley Global Citizens, the following countries are under the top 10 category:
| Rank | Countries | No. of Centi-Millionaires |
| 1 | United States | 9730 |
| 2 | China | 2021 |
| 3 | India | 1132 |
| 4 | UK | 968 |
| 5 | Germany | 966 |
| 6 | Switzerland | 808 |
| 7 | Japan | 765 |
| 8 | Canada | 514 |
| 9 | Australia | 463 |
| 10 | Russian Federation | 435 |
Which Part of the World has Most Centi-Millionaires?
From the above-mentioned table, it is evident that the United States of America is a land of an astounding 38% of centi-millionaires in the world, even though it constitutes merely 4% of the entire population of the world.
Even the main European markets are left behind. The big booming markets of China and India with 2021 and 1132 centi-millionaires rank quite higher than the European market, in terms of centi-millionaires residing in the country. The UK holds the 4th position, followed by Germany in the 5th position.
Nevertheless, the concentration of capital tends to move to the Eastern part. Over the next ten-year time frame, about 57%, the evolution of centi-millionaires in Asia will be double the new super-rich class of the USA and Europe.
Booming Markets for Centi-Millionaires
With an astounding and anticipated growth rate of 95%, Vietnam is predicted to be the fastest emerging centi-millionaires market over the next decade. Next to Vietnam, India, with an expected growth rate of 80%, is forecasted to be the fastest-growing nation by 2032, with centi-millionaire individuals worth more than $ 100 million.
Recently, Mauritius has become an attraction for centi-millionaires. This business-friendly and safe African island country have a predicted growth rate of 75%. Australia (60%) and New Zealand (72%) are also anticipated to enjoy unparalleled growth.
