Nairobi has earned the distinction of being ranked 7th among African cities with the highest number of centi-millionaires, individuals whose net worth exceeds $100 million or Ksh12.9 billion.
The Centi-millionaire Report 2024, published by Henley & Partners – a British-based investment migration consultancy, has revealed that there are 29,350 individuals across the world who have a net worth that exceeds Ksh12.9 billion.
“For the purposes of this report, ‘wealth’ refers to an individual’s liquid investable wealth, which only includes listed company holdings, cash holdings, and debt-free residential property holdings,” Henley & Partners said.
According to the report, the vast majority of the super-rich in the world are based in cities across the US and China.
New York City, which has 744 individuals with a net worth in excess of $100 million, was ranked first in the list compiled by Henley & Partners.
The top 10 cities in the world which are home to most dollar centi-millionaires include:
1. New York City, USA – 744 individuals
2. The Bay Area, USA – 675 individuals
3. Los Angeles, USA – 496 individuals
4. London, UK – 370 individuals
5. Beijing, China – 347 individuals
6. Singapore City, Singapore – 336 individuals
7. Shangai, China – 322 individuals
8. Hong Kong City, Hong Kong – 320 individuals
9. Chicago, USA – 290 individuals
10. Paris, France – 286 individuals
Africa
According to Henley & Partners report, Nairobi has 10 centi-millionaires, ranking seventh in Africa and first in the East African region.
The top 10 cities in Africa which have the highest number of individuals with a net worth in excess of Ksh12.9 billion include:
1. Cairo, Egypt – 30 individuals
2. Cape Town, South Africa – 28 individuals
3. Johannesburg, South Africa – 25 individuals
4. Lagos, Nigeria – 12 individuals
5. Marrakech, Morocco – 12 individuals
6. Durban, Umhlanga and Ballito, South Africa – 11 individuals
7. Nairobi, Kenya – 10 individuals
8. Casablanca, Morocco – 10 individuals
