Tel Aviv is ranked 41 worldwide in terms of the number of residents who are centi-millionaires (possessing liquid investable wealth of at least $100 million), according to Henley & Partners and New World Wealth Research Centi-Millionaire Report 2024.
The report found there are 212 centi-millionaires living in Israel, up 62% over the past 10 years including 82 in Tel Aviv. A major reason for this is the large number of successful tech companies in the city including Check Point, Wix, Waze and monday.com as well as global tech giants like Intel and IBM. Jerusalem and Netanya also contribute to the large number of centi-millionaires in Israel.
Henley & Partners see the number of centi-millionaires in Israel continuing to grow, albeit at a less dramatic pace than China and the US.
The report said, "This exclusive club has grown globally by 54% over the last decade but the geographic distribution of this super-rich explosion across different regions is revealing. America and China have experienced what can only be described as a centi-millionaire boom, significantly outperforming their European counterparts."
The report found that there are 29,350 centi-millionaires worldwide, up 54% from 10 years ago. The world's three cities with the biggest number of centi-millionaires are New York (744), San Francisco Bay area (675) and Los Angeles (496), followed by London (370), Beijing (347), Singapore (336), Shanghai (322), Hong Kong (320), Chicago (290) and Paris (286).
Published by Globes, Israel business news - en.globes.co.il - on September 17, 2024.
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