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Nairobi ranked 7th among African cities with highest number of dollar centi-millionaires

Martin Oduor
An aerial view of parts of Upper Hill, the richest district in Nairobi city. PHOTO/@Africa_Archives/X

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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

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