The World of Centa-Millionaires

Written by on March 22, 2013 in Money - No comments | Print this page

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It’s not unusual for the ordinary person to wonder or dream about what it’s like to be a multi-millionaire. In 2011 there were 63,000 centa-millionaires in the world, and by 2016 that number is expected to climb to 86,000. Africa, South Asia, and Central Asia are expected to see a 100% increase in the number of centa-millionaires in that time.

Being a centa-millionaire is something that on a select few will ever achieve, but how does one accumulate more than 100 million dollars? Well, the really fortunate ones are born into it, and others are business owners who’ve made their fortunes in natural resources, manufacturing, or construction.

Of course, these multimillionaires are wise and save their earnings in order to amass wealth. Most often they invest in property, with equities and bonds close behind. Other investments include cash, currencies, gold, and commodities.

In the past two years, millionaires have rated London as the most important city to them. So what makes a city globally attractive to the extremely affluent? Personal security and safety, social stability, and economic openness are major factors for the elite. To a lesser degree, luxury housing, other high net-worth individuals to network with, political influence, and a good education system make for an attractive locale.

When it comes to buying another home, lifestyle is the major influencing factor. Investment and having a safe haven for capital are other major influencing factors for the average centa-millionaire who’s shopping for property.

So, how many of these millionaires like sand in their shoes? 40% of them own beachfront property, while 16% of them have ski chalets. So it seems that at least 44% of centa-millionaires have neither, which may be one of the few things they have in common with the average joe.

Source: HomeInsurance.org

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