While many Canadians are cutting back on groceries and dodging rising rent, a new global report paints a very different picture for the country’s wealthiest citizens. In 2025, four Canadian cities will have officially earned spots among the richest in the world, not just because of high property values or luxury lifestyles, but due to a surge in what experts now call centi-millionaires.

These individuals have at least $100 million in investable assets. And they aren’t just sitting on wealth — they’re actively driving industry, innovation, and long-term growth. The latest data from Henley & Partners and New World Wealth shows that Toronto, Vancouver, Montreal, and Calgary are quickly becoming top destinations for these ultra-rich residents.

The report highlights a trend that goes beyond individual net worth. These cities are magnets for both global capital and ambitious entrepreneurs. And that’s putting Canadian wealth cities on the map like never before.

Toronto and Vancouver Lead Canada’s Millionaire Boom

Toronto has taken the top Canadian spot, with 184 centi-millionaires, landing the city in 18th place globally. That places it right between Monaco and Milan, two long-established centers of luxury and finance.

Not far behind is Vancouver, home to 90 centi-millionaires. The West Coast hub shares the 37th spot with Austin, Texas. Known for its tech startups, thriving real estate, and wealthy immigrants, Vancouver continues to attract top-tier global wealth.

Here’s a quick look at the numbers:

Montreal and Calgary may be further down the list, but they aren’t lagging in potential. Montreal has 32 centi-millionaires, sharing 92nd place with Warsaw, while Calgary has 26, but is expected to double that number within a decade.

What’s Fueling Canada’s Wealth Surge?

This isn’t just about inherited wealth or property spikes. The real force behind these figures is entrepreneurship. Many of these centi-millionaires are business builders — founders of tech firms, resource companies, real estate empires, and healthcare giants. Their success reflects the health of the local economy and signals where future growth is likely to occur.

Another major factor: Canada’s immigration policies. Cities like Toronto and Vancouver actively benefit from global investment migration. These policies allow high-net-worth individuals to settle and invest in Canada. In return, cities gain talent, capital, and industry expansion.

Henley & Partners noted that cities welcoming skilled global residents are quickly becoming international wealth magnets. And Canada’s approach has made it one of the most attractive destinations on that front.

Why It Matters to the Average Canadian

You might wonder: what does a centi-millionaire in a penthouse have to do with my cost of rent? Here’s the thing: wealth doesn’t just accumulate. It builds things — new jobs, startup ecosystems, infrastructure, charitable foundations, and even international trade links. While inequality is a serious concern, a rising number of wealthy entrepreneurs can also signal more opportunities for everyone.

At the same time, it’s crucial that growth remains inclusive. As Canadian wealth cities attract more ultra-high-net-worth individuals, there will be increased scrutiny around affordability, housing access, and local investment.

But make no mistake — Canada is officially in the big leagues when it comes to attracting and retaining the world’s richest minds.

Canadian Wealth Cities Are Growing, And The World Is Watching

With over 330 centi-millionaires now calling Toronto, Vancouver, Montreal, and Calgary home, it’s clear that Canada is becoming a powerful magnet for global wealth. These Canadian wealth cities are no longer just friendly, livable places — they’re fast becoming powerhouses of innovation, finance, and global influence.

As immigration policies continue to draw global talent and capital, and as cities foster environments that support entrepreneurship and growth, this number is likely to rise. And in the next few years, don’t be surprised to see even more Canadian cities join the list.

Want to learn more about investment immigration or how Canada attracts global wealth? Stay tuned to ImmigCanadafor the latest updates.

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