Canada ranks 8th in the world for super-rich people

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A newly recognized cohort of ultra-rich people referred to as “centi-millionaires” is rising worldwide, in response to a report by Henley & Partners.


The London-based agency, which focuses on world residence and citizenship funding planning for elite purchasers, describes the emergence of this class of rich people in a examine entitled “The Centi-Millionaire Report: The Emergence of a New Class of Super-Rich,” launched Tuesday.


“A new landmark report on the rise of the centi-millionaire reveals that although a handful of the world’s billionaires such as Elon Musk, Mark Zuckerberg, Jeff Bezos, Roman Abramovich, and Bill Gates dominate the news headlines, their wealth cohort is outnumbered nearly 10-to-1,” the press launch from Henley & Partners reads.


Centi-millionaires are a category of people who’ve US$100 million or extra in investable property. According to the agency, there are 25,490 people worldwide who match this description.


“In the late 1990s, US$30 million was considered the fortune needed to meet this definition,” Dr. Juerg Steffen, CEO of Henley & Partners says in the press launch. “However, asset prices have risen significantly since then, making US$100 million the new benchmark.”


The report combines knowledge from New World Wealth, a worldwide intelligence agency monitoring spending habits of the world’s wealthiest people, and Henley & Partners to learn the way these people turned so wealthy and the place they stay.


The United States is dwelling to 38 per cent (9,730) of centi-millionaires, adopted by China and India, with 2,021 people and 1,132 people, respectively.


The United Kingdom is fourth on the record with 968 people, adopted intently by Germany with 966 centi-millionaires. Despite its small inhabitants, Switzerland is sixth with 808 people in the class.


 



Japan, with 765 people, is seventh on the record, simply forward of Canada, which ranks eighth in the world with 514 individuals who match the description of a centi-millionaire. Australia (463 people) and Russia (435) are usually not far behind in ninth and tenth place.


The report reveals there may be “no set path” to attaining the standing, explaining some inherited wealth whereas others labored to amass their fortunes. Instead, the knowledge factors to the age rift between the centi-millionaires, seeing a rising variety of younger entrepreneurs who based tech corporations becoming a member of the membership.


“Baby Boomers still tend to dominate the centi-millionaire circle despite many now cashing in their stock options and selling their businesses,” the report reads.

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