Hello. This is Richard C. Wilson, coming to you from the country of Georgia today, in the Middle East. I wanted to answer a question about how many centi-millionaires there are. There are 55,000 that I identify as centi-millionaires, according to Wealth-X, in 2018, while only 3,000 billionaires. Which means there is 17 times as many centi-millionaires as there are billionaires. Both of these statistics are inaccurate because if you’re outside the United States or Western Europe, many people are afraid of being labeled ultra-wealthy. They don’t want to be attracting media, people asking for their time, their checkbook, government confiscating their assets, et cetera, so because of that these numbers are always under-reported. These are just known centi-millionaires and known billionaires. So most likely there’s 5,000 plus billionaire and billionaire families. Most likely there are 75,000 plus centi-millionaire and centi-millionaire families, or much more. This number is growing every year. It’s growing fastest within Asia. And the industry that’s creating the most wealth right now, based on my experience and the statistics. If you look up at all the top reporting sources, such as Forbes, Financial Times, Bloomberg, Wealth-X, et cetera, would be tech, real estate, consumer products, and then manufacturing is where most of the wealth IC is being created. If you want to learn more about these topics, please visit centimillionaires.com or familyoffices.com. Take care.
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