HOW much money does a person need to possess to be considered super wealthy is an age old question that many people may not have found the answer to.
The Centi-Millionaire Report 2022 published by Henley & Partners says “In the 2020s, this figure is probably $100-million.”
According to the report, people who have a $10- million (R1.79-billion) worth of investable assets or centi-millionaires are generally the CEOs of multi-national organisations or the founders of successful companies.
As of June 2022, there are 25,490 centi-millionaires in the world. With 38% or 9,730, the United States has the highest number of centi-millionaires in the world followed by China (2021) and India (1,132). The UK and Germany round up the top five with 968 and 966 centi-millionaires respectively.
On the African continent, South Africa ranks first with 92 centi-millionaires. On the global ranking, South Africa ranks 27th.
According to the report, centi-millionaires are known to own super yachts and private jets while splurging on expensive art and designer threads.
They also spend their money on sending their kids to exclusive and expensive schools, with the most expensive school costing $142,340 annually.
Centi-millionaires choose to spend their money on expensive pursuits such as art collecting and classic car collecting. The most expensive car that is popular with centi-millionaires is a Ferrari 250 GTO from the 1960’s that costs $40-million.
IOL Business