A new report from New World Wealth and Henley & Partners reveals a significant increase in the number of centimillionaires worldwide over the past 10 years, with China leading the charge. The report highlights China's dramatic growth in its centimillionaire population, expanding by 108% compared to the U.S.'s 81% increase.
The world's super rich club saw a significant expansion over the past 10 years, with China leading the charge, according to a new report.
The number of centimillionaires surged 54% worldwide over the past decade to 29,350, particularly in China and the U.S., according to the report. Centimillionaires are ultra-high-net-worth individuals with China's growth was driven in large part by the emergence of tech centimillionaires and industrial titans, Steffen said. There are currently 2,350 centimillionaires living in China.
Both the U.S. and China are expected to outperform the global average centimillionaire-growth rate of around 75% by 2040.
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