The Centi-Millionaire Report 2023 (2024)

FAQs

How many centimillionaires are there? ›

There are about 28,420 centimillionaires globally, largely concentrated in New York City, the Bay Area, Los Angeles, London and Beijing, according to Wrise Wealth Management Singapore.

A centibillionaire is someone with a net worth of 100 billion (100,000,000,000) or more units of a given currency, generally of major world currencies such as the United States dollar, euro or pound sterling.

(There are about 12 times as many “centis” as billionaires; it's lonely at the very top.) New York, the Bay Area, and Los Angeles boast the largest centi populations worldwide. But cities in China, India, and the Middle East are catching up fast as their economies expand.

America's millionaire population grew 7.3% in 2023 to 7.43 million people, according to a report from Capgemini .

The U.S. is now home to 37% of the world's millionaires, up from 35% in 2018. The divergence grows even more at the top of the wealth ladder. The U.S. has 9,850 centi-millionaires — those worth $100 million or more — compared with China's 2,352.

Noun. hectomillionaire (plural hectomillionaires) (rare) A person whose wealth amounts to 100 million dollars (or other currency unit).

Gates long held the title as the world's second-richest person until Elon Musk unseated him in November 2020. Now, Gates is the world's fifth-richest person and part of an exclusive club of centibillionaires — people worth more than $100 billion.

As of today, no billionaire is within striking distance of becoming a trillionaire. Elon Musk is, at present, the world's richest person, with a net worth of $206 billion, while Jeff Bezos is in the number two position with $179 billion, according to Bloomberg.

decillionaire (plural decillionaires) Somebody whose wealth is greater than one decillion units of the local currency.

What city is full of millionaires? ›

New York City historically has one of the largest concentrations of wealth, with 349,500 millionaires. When adjusted for population, that number is 1 in every 24 people in the city. The U.K. wealth firm, Henley & Partners analyzed data from New World Wealth to produce its United States Wealth Report.

The U.S. is home to the most millionaires of any country by a large margin. In fact, nearly 9% of U.S. adults are millionaires today. This makes sense, as the United States has the world's largest domestic economy.

In 2023, households earning at least $844,266 per year are considered among California's top 1%. On average, these high earners are taxed at a rate of 26.95%. In the Garden State, you'll need an annual household income of $817,346 to be in the top 1%.

From 1992 to 2022, the average age of a millionaire increased from 57 to 61, according to a Business Insider analysis of data from both years' Survey of Consumer Finances (SCF), which is conducted by the Federal Reserve.

The average American net worth is $1,063,700, as of 2022. Net worth averages increase with age from $183,500 for those 35 and under to $1,794,600 for those 65 to 74. Net worth, however, tends to drop for those 75 and older.

How Many Decamillionaires are there in the World? As of 2022, there are an estimated 2,636 decamillionaires in the world. This number has been increasing rapidly in recent years due largely to the rising global economy.

What Is a Decamillionaire? Decamillionaire is a term used for someone with a net worth of over 10 million of a given currency, most often U.S. dollars, euros, or pounds sterling. The term decamillionaire is made up of two words, “deca” and “millionaire.” The word “deca” or “deka” is of Greek origin, meaning ten.

These affluent individuals are typically the founders of large multi-national companies or the heirs to vast family fortunes. There are only 28,420 centi-millionaires in the world (as at June 2023), making this a very elite club.

No individual has claimed the status of trillionaire just yet. But a net worth equal to at least one trillion in U.S. dollars or a similarly valued currency isn't unattainable, but it will be a couple of years yet. Only 18 countries have a GDP that exceeds that amount.