According to the Centi-Millionaire Report 2024 by Henley & Partners., the global number of centi-millionaires—individuals with liquid investable assets of $100 million or more—currently stands at 29,350. This figure is projected to soar in the coming decades, especially in emerging markets like the Middle East and Asia.

Cities such as Dubai, Abu Dhabi, Hangzhou, Shenzhen, and Taipei are expected to experience an over 150% increase in their centi-millionaire populations by 2040.

Emerging hubs such as Riyadh, Saudi Arabia, and Bengaluru, India, are also predicted to experience similar growth within the next 16 years.

In contrast, more established cities like Chicago, Moscow, Zurich, and Madrid will likely see more modest increases, with their centi-millionaire populations growing by less than 50% by 2040.

Dr. Juerg Steffen, CEO of Henley & Partners, highlighted the importance of strategic residence and citizenship planning for the ultra-wealthy.

“The importance of building a strategic portfolio of complementary residence permits and citizenships that provide you with personal access rights to a wide range of different jurisdictions has never been more evident for centi-millionaires,” stated Dr. Steffen.

He also pointed out that nearly two-thirds of the top 50 cities for centi-millionaires are in countries offering investment migration programs. Over the past decade, the global centi-millionaire population has surged by 54%, but regional differences are stark.

The U.S. and China have seen remarkable growth in their ultra-wealthy populations, with China’s centi-millionaire numbers increasing by 108% and the U.S. by 81%. In contrast, Europe has experienced slower growth, with only a 26% rise in the same period.

“Pockets of dynamism exist, with smaller European markets such as Monaco, Malta, Montenegro, and Poland seeing their centi-millionaire populations surge by 75% or more,” Steffen noted.

Now accepting applications for Fast Company Middle East’s Most Innovative Companies. Click here to apply.