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Family offices in Asia grow tenfold since 2012

Family offices in Asia have grown tenfold in the past decade. According to research from the Roger King Center for Asian Family Business and Family Office, located at the Hong Kong University of Science and Technology, there are now 1,200 family offices in Asia, a tenfold increase from 100 in 2012, with 60-70% of them based in Hong Kong. It also said that the number of family offices worldwide has soared from 4,200 in 2012 to 10,000 this year. Also, the 2022 Centi-Millionaire Report released by Henley & Partners shows the US has 9,730 centi-millionaires - making up 38% globally. China and India follow with 2,021 and 1,132 centi-millionaires, respectively. China and India now have the second- and third-largest number of billionaires in the world, respectively.

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