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While the wealth of the top 25 U.S. billionaires dropped 15% year over year in 2022, according to Forbes’ latest estimate this week, the country has another wealth class that is growing.
The U.S. had 9,730 centi-millionaires, those who have at least US$100 million in investable assets, in 2022, accounting for 38% of the world’s total of 25,490, according to a recent report from Henley & Partners, a London-based investment migration consultancy, in collaboration with New World Wealth, a global wealth intelligence firm based in South Africa.
Most emerging markets have relatively large numbers of centi-millionaires but few billionaires. For example, Kenya has no billionaires, but 14 centi-millionaires, according to Henley & Partners.
The global billionaire population stood at 3,381 in 2022, according to a previous report by Hurun, a market research firm based in China.
READ MORE: America’s Top 25 Billionaires Gave $27 Billion in 2022, Outpacing Previous Years
China and India, the two biggest emerging economies, ranked second and third with 2,021 and 1,132 centi-millionaires, respectively.
At the metro level, New York had the most centi-millionaires with 737, followed by the San Francisco Bay Area with 623, and London with 406, according to Henley & Partners.
The top 10 holiday destinations for centi-millionaires included: The Hamptons, N.Y.; the Rocky Mountains, especially Aspen and Vail, Colo., and Jackson Hole, Wyo.; Florida, especially Palm Beach and Miami Beach; the Algarve of Portugal, especially the Golden Triangle; the French Riviera; Lake Como of Italy; Ski towns in Switzerland; the Italian Riviera; African wildlife safaris, especially in Botswana, Kenya, South Africa, Tanzania, and Uganda; and Tuscany, Italy.
Golf, art collecting, and cycling and mountain biking ranked the top three pursuits of the world’s centi-millionaires, according to the report.
However, classic car collecting, which ranked seventh, is on the rise. Globally, classic car prices have risen 84% over the past decade (2012 to 2022) in the U.S.-dollar terms, according to New World Wealth’s indices.
The most popular classic car models at auctions include the Ferrari 250 GTO from the 1960s, the McLaren F1 from the 1990s, and the Aston Martin DB4 GT from the 1950s, according to the report.
READ MORE:Rare Ferrari Goes for $48M, Becoming Most Valuable Car Ever Sold at Auction
