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☆ China's ultra-rich population sees 'dramatic' growth in last 10 years, outpacing the U.S., report shows
▼ + stars: | 2024-09-17 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

The world's super rich club expanded significantly over the past 10 years, with China leading the charge, according to the latest report from New World Wealth and investment migration advisor Henley & Partners. 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. China's growth was driven in large part by the emergence of tech centimillionaires and industrial titans, Steffen said. Most of China's centimillionaire boom happened between 2013 to 2020, Andrew Amoils, wealth analyst at New World Wealth, told CNBC. Since 2020, the number of ultra-rich has only risen about 10%, he added.

Persons: Henley, Juerg Steffen, — outpacing, Steffen, Andrew Amoils Organizations: Wealth, Henley & Partners, CNBC Locations: China, U.S, America

☆ New York tops the list of the 50 richest cities in the world
▼ + stars: | 2024-05-07 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

New York's millionaire population is now larger than the entire populations of Orlando or Pittsburgh. The Bay Area's millionaire population has surged by 82% over the past decade, to 305,700. The U.S. is home to 11 of top 50 richest cities, according to the report. "Notably, U.S. cities have significantly outperformed other western cities over the past decade when its comes to overall wealth and millionaire growth." Here is the full ranking of the world's richest cities, according to Henley & Partners and New World Wealth:1.

Persons: Andrew Amoils, Amoils, Juerg Steffen, Robert Frank Organizations: Henley & Partners, Area, Federal Reserve, Research, New, London, Sydney Locations: York, California, Orlando, Pittsburgh . New York, Brazil, Italy, Canada, San Francisco, U.S, Tokyo, London, China, Beijing, Singapore, Los Angeles, New York, Area, France, Hong Kong

☆ Millionaires are fleeing China at a faster pace as the post-COVID economic rebound fizzles
▼ + stars: | 2023-06-13 | by ( Jason Ma | ) www.businessinsider.com time to read: +3 min

Millionaires are fleeing China at a faster pace as the post-COVID economic rebound fizzles. China will see a net loss of 13,500 in 2023, up from 10,800 in 2022, the Henley Private Wealth Migration Report said. Meanwhile, the US will see a net gain of 2,100 millionaires, up from 1,500 last year. China will see a net loss of 13,500 high-net-worth individuals in 2023, up from 10,800 in 2022, according to the Henley Private Wealth Migration Report. After China's economy expanded strongly from 2000 to 2017, the growth of millionaires since then has been negligible, he added.

Persons: —, Andrew Amoils, Amoils, Henley, gainers, Juerg Steffen Organizations: Millionaires, Henley, Wealth, Service, Huawei, United, United Arab Emirates, Partners Locations: China, fizzles, Henley, Taiwan, Hong Kong, India, Australia, United Arab, Singapore

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