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Vancouver among top 50 cities with highest number of ultra-rich millionaires

Metro region is home to 72 residents with at least US$100M in investible assets
Vancouver's Alberni Street is the centre of luxury retail spending in the city. | Chung Chow, BIV

The world’s ultra-wealthy are feasting their eyes on Vancouver.

The number of people around the world worth at least US$100 million — so-called “centi-millionaires” – has doubled since 2003, with many now calling the West Coast home.

An Oct. 10 report from advisory firm Henley and Partners reveals 72 centi-millionaires now live in Metro Vancouver. That number includes six billionaires.

While that’s only a tenth the number of centi-millionaires living in No. 1-ranked New York City (775), Vancouver still managed to squeeze into the top 50 global cities at No. 41.

Toronto is the only other city in Canada with more centi-millionaires (192). It’s also the only other Canadian city in the top 50.

The report said US$100 million in investible assets is the best measure of what constitutes being ultra-rich.

"In the late 1990s, US$30 million was considered by most banks as the fortune that was needed to meet this status. However, asset prices have risen significantly since then, making US$100 million the new benchmark," Juerg Steffen, CEO of Henley and Partners, said in a statement.

The firm estimates the number of ultra-rich Vancouverites will grow by 67 per cent in the coming decade.

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