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Not important, but you probably mean "hectomillionaire" - a centimillionaire would be someone worth $10,000.

No, he meant centimillionaire / centi-millionaire. It's a common term referring to a nine figure net worth.

Centi can designate 100 of something or one-hundredth of something.

I would accept 'centillionaire', because 'centillion' strikes me as a decent way to say one hundred million. A centurion is not 1/100th of an urion.

Apparently 'centillionaire' is already taken http://en.wikipedia.org/wiki/Centillion

"One centillion is a number, which is equal to either 10^303 or 10^600, depending on the system used."