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The fastest-growing area in South Africa for dollar-millionaires
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AfrAsia Bank in collaboration with New World Wealth has published its African wealth report for 2021, highlighting the wealthiest cities on the continent by total wealth held.
The group defines ‘total wealth’ as the private wealth held by all the individuals living in each city. It includes all their assets – including property, cash, equities, business interests – less any liabilities.
Using this metric, the data shows that Johannesburg is the city with the most millionaires (15,100) on the continent, followed in a distant second by Cape Town (6,500). New World Wealth defines millionaires as those with a net worth of $1 million or more.
SandtonGautengSouth-africaBishopscourtWestern-capeCape-townLlandudnoJohannesburgStellenboschSilverhurstCamps-bayFranschoekThe Africa Wealth Report for 2021 has landed – and it is packed full of fascinating details about the rich and the famous on our continent. We’re taking a more domestic look at things here, as we assess where the vast majority of dollar-millionaires live in South Africa – and pit our five ‘wealthies cities’ against each other.
Where do most dollar-millionaires live in South Africa?
There are almost as many dollar-millionaires – essentially people worth R14.2 million or more – living in Johannesburg as there are in all other ‘big five’ cities combined. It’s also home to the highest amount of multi-millionaires (with a fortune of $10 million / R142 million stashed away), and boasts the joint-highest concentration of dollar-billionaires on our shores.
SandtonGautengSouth-africaPretoriaDurbanKwazulu-natalFranschhoekWestern-capeCape-townUmhlangaDar-es-salaamTanzania