Is there a millionaire or billionaire living in YOUR neighbourhood?

Do you know how many millionaires, billionaires, or even centi-millionaires live in your neighbourhood?

LET’S TAKE A LOOK AT WHO IS LIVING IN OUR NEIGHBOURHOODS:

The latest African Wealth Report for 2023 that was published on Tuesday revealed that Johannesburg is in the lead with a whopping 14,600 High Net Worth Individuals (HNWIs), 30 centi-millionaires, and two billionaires living there. This includes Sandton. 

Jaw on the ground! 

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IN SECOND PLACE:

In the second place, we have Cape Town with 7,200 high-net-worth individuals, 26 centi-millionaires, and one billionaire living there. 

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The third place goes to Durban, with 3,600 high-net-worth individuals and 10 centi-millionaires living on the south coast. 

The report for 2023 detailed some of the fascinating fiscal trends in South Africa. The document is produced by New World Wealth.

The table below ranks South African areas by total wealth. Note that ‘total wealth’ refers to the private wealth held by all the individuals living in each area. It includes all their assets (property, cash, equities, and business interests) less any liabilities. 

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IN FOURTH PLACE:

In the fourth place, we have Cape Winelands with 3,400 high-net-worth individuals, 15 centi-millionaires, and two billionaires living there. 

The Garden Route takes fifth place, with 3,000 high-net-worth individuals and 5 centi-millionaires.

Pretoria is in sixth place with 2,400 high-net-worth individuals and two centi-millionaires living there.  

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PRETORIA IS IN SIXTH PLACE

And the seventh spot goes to The Whale Coast with 1,100 high-net-worth individuals and 5 centi-millionaires living there. 

“Johannesburg and Pretoria performed relatively poorly in terms of growth when compared to the other cities and areas listed, mainly due to coastal semigration. If the current rate of internal relocation continues, Cape Town is on track to overtake Johannesburg to become South Africa’s wealthiest city by 2040.”

The Report

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