Bengaluru is set to experience a significant rise in its ultra-wealthy population over the next 16 years, with a projected increase of more than 150 per cent in the number of centi-millionaires, the Business Standard reported, citing the Henley & Partners’ Centi-Millionaire Report 2024.
Bengaluru is projected to witness a sharp increase in its ultra-wealthy residents, driven by the city’s booming tech industry. (Shutterstock/Representative image)
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Currently home to around 13,200 millionaires, the city has an estimated investable wealth of ₹800 crore. Known as India’s Silicon Valley, Bengaluru's wealth expansion reflects its growing status as a key hub for the country's ultra-rich.
This forecast builds on previous data, such as the World’s Wealthiest Cities Report 2024, which highlighted a remarkable 120 percent growth in the city's millionaire population over the past decade, the report said. As Bengaluru continues to attract top-tier talent and investment, its trajectory mirrors the global surge in ultra-wealthy individuals.
Globally, the number of centi-millionaires— those with liquid assets of 100 million dollars or more — has increased by 54 per cent in the past decade. Leading this growth are countries like the United States and China, with Asia, in particular, rapidly closing in on traditional strongholds of wealth, the publication noted. Bengaluru, along with Mumbai and Delhi, is emerging as one of the top cities in Asia for centi-millionaire residents, joining the ranks of Beijing, Singapore, and Shanghai.
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The report further notes that over 60 per cent of these ultra-wealthy individuals are entrepreneurs and business founders, underscoring the role of innovation and enterprise in wealth creation. With Bengaluru’s vibrant tech scene and growing entrepreneurial ecosystem, the city is poised to remain a key player in the global landscape of wealth accumulation, as it competes with major financial hubs around the world.
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The report further notes that over 60 per cent of these ultra-wealthy individuals are entrepreneurs and business founders, underscoring the role of innovation and enterprise in wealth creation. With Bengaluru’s vibrant tech scene and growing entrepreneurial ecosystem, the city is poised to remain a key player in the global landscape of wealth accumulation, as it competes with major financial hubs around the world.
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.
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Home/Cities/Bengaluru News/Bengaluru sees 120% rise in centi-millionaire population over last decade: Report
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