The number of people who are prime candidates for setting up a family office — those with at least $100 million in liquid investible assets — has increased by 54% over the past decade, according to The Centi-Millionaire Report 2024, recently released by wealth and investment migration advisors Henley & Partners.
There are currently 29,350 of these individuals worldwide, and one-third of them live in 50 cities identified in the report. At the top of the list:
- New York: 744
- Bay Area (San Francisco and Silicon Valley): 675
- Los Angeles: 496
- London: 370
- Beijing: 347
- Singapore: 336
The report projects that the three U.S. cities at the top of the list will see over 50% growth in the number of centi-millionaires in the next 10 years.
It also highlights a dramatic increase — 108% — in the number of centi-millionaires in China in the past decade. This compares with growth of 81% in the United States and just 26% in Europe during that time.