Bengaluru, India’s Silicon Valley, has witnessed a staggering 120% increase in its centi-millionaire population over the past decade, with projections suggesting further significant growth. According to the Henley & Partners’ Centi-Millionaire Report 2024, the city’s ultra-wealthy population is expected to soar by over 150% in the next 16 years.
Currently home to around 13,200 millionaires, Bengaluru’s total investable wealth stands at approximately ₹800 crore. The city has become a prime destination for top-tier talent and investment, cementing its position as a growing hub for the country’s ultra-rich. The report highlights that Bengaluru is set to join the ranks of other major global cities, like Beijing, Singapore, and Shanghai, as a leading center for centi-millionaire residents in Asia.
Globally, centi-millionaires—individuals with liquid assets of $100 million or more—have increased by 54% over the last decade. The United States and China are at the forefront of this wealth surge, but Asia is rapidly closing in as a stronghold for ultra-wealthy individuals. Bengaluru, along with Mumbai and Delhi, is emerging as one of the top cities in Asia for centi-millionaires.
The report also emphasizes that over 60% of these centi-millionaires are entrepreneurs and business founders, highlighting the role of innovation and enterprise in wealth creation. Bengaluru’s thriving tech ecosystem and entrepreneurial landscape have positioned it as a major player in the global competition for wealth accumulation.
Sources By Agencies