Photo: Axel Buhrmann
Some prefer the beach, some like the winelands – but most stay in one particular city: The dollar-millionaires of South Africa know what they like…
Photo: Axel Buhrmann
The 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.
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.
However, beneath the might of Johannesburg are some smaller success stories: Umhlanga and Ballito, both based in Durban, have seen one of the highest increases in wealth over the past decade. The Cape Winelands, meanwhile, is showing a rapid growth in the amount of ‘high net worth individuals’ moving to their region. But wait, there’s more.
15 100 dollar-millionaires, 790 multi-millionaires, and two billionaires
6 500 dollar-millionaires, 390 multi-millionaires, and one billionaire.
3 400 dollar-millionaires, 210 multi-millionaires, and no billionaires.
2 800 dollar-millionaires, 160 multi-millionaires, and two billionaires.
2 400 dollar-millionaires, 100 multi-millionaires, and no billionaires.