Last year’s publication of the most recent African Wealth Report for 2022 revealed that Johannesburg is the city with the most multi-millionaires, cent-millionaires, and billionaires. Included is Sandton.
Johannesburg is also home to 16,000 High Net Worth Individuals (HNWIs). Individuals with a net worth of at least $1 million are considered wealthy (R15. 3 million).
Nose to the ground!
In second place is Cape Town, which is home to 6,900 wealthy individuals, 420 multimillionaires, 25 centimillionaires, and one billionaire.
On the south coast, Durban and Umhlanga rank third with 3,700 high-net-worth individuals, 30 multimillionaires, and 11 centimillionaires.
The study for 2022 outlined several intriguing South African fiscal trends. New World Wealth authored the document.
The following table ranks South African regions by their overall wealth. Note that ‘total wealth’ refers to the private wealth possessed by each region’s whole population. It consists of all their assets (property, cash, stocks, and business interests) minus their liabilities.
Top ten regions
Total Assets ($bn)
HNWIs s(US$1m+)
Multi-millionaires s(US$10m+)
Centi-millionaires s(US$100m+)
Billionaires s(US$1bn+)
Cape Town 131 6 900 420 25 Johannesburg 239 16 000 840 34
1 Durban and Umhlanga 60 3 700 230
11 — Paarl, Franschhoek and Stellenbosch 53 3 200 180 14
2 The Garden Route 46 2.8 million 110 3 – Pretoria 45 2.6 million 110
2 – Cape Whale Coast 26.090.70
4 – Sunshine Coast 14,300 forty
1 – Pietermaritzburg and Natal Midlands
7 200 20 – – sBloemfontein 3 100 10 – –
Notes: Numbers of high-net-worth individuals rounded to the nearest 100. Figures for multimillionaires rounded to the closest 10.
Contains only residents of each location (residents). Information for December 2021.
The origin: New World Wealth
In addition, the analysis indicated that despite the general loss, a number of South African regions enjoyed positive US$ wealth increase over the preceding decade.
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