Is there a millionaire or billionaire living in YOUR area?
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 2022 that was published earlier this year revealed that Johannesburg is in the lead with a whopping 840 multi-millionaires, 34 centi-millionaires, and two billionaires living there. This includes Sandton.
Johannesburg also has 16,000 High Net Worth Individuals – or HNWIs living there. High-net-worth individuals are defined as having a net worth of at least $1 million (R15. 3 million).
Jaw on the ground!
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IN SECOND PLACE:
In the second place, we have Cape Town with 6,900 high-net-worth individuals, 420 multi-millionaires, 25 centi-millionaires, and one billionaire living there.
Third place goes to Durban and Umhlanga with 3,700 high-net-worth individuals, 30 multi-millionaires and 11 centi-millionaires living on the south coast.
The report for 2022 detailed some of the fascinating fiscal trends in South Africa. The document is produced by New World Wealth.
The table below ranks South African areas by total wealth. Note that ‘total wealth’ refers to the private wealth held by all the individuals living in each area. It includes all their assets (property, cash, equities and business interests) less any liabilities.
| Top 10 areas | Total Wealth (US$bn) |
HNWIs (US$1m+) |
Multi-millionaires (US$10m+) |
Centi-millionaires (US$100m+) |
Billionaires (US$1bn+) |
| Johannesburg | 239 | 16 000 | 840 | 34 | 2 |
| Cape Town | 131 | 6 900 | 420 | 25 | 1 |
| Durban and Umhlanga |
60 | 3 700 | 230 | 11 | – |
| Paarl, Franschhoek and Stellenbosch |
53 | 3 200 | 180 | 14 | 2 |
| The Garden Route | 46 | 2 800 | 110 | 3 | – |
| Pretoria | 45 | 2 600 | 110 | 2 | – |
| The Cape Whale Coast |
26 | 900 | 70 | 4 | – |
| The Sunshine Coast |
14 | 300 | 40 | 1 | – |
| Pietermaritzburg and Natal Midlands |
7 | 200 | 20 | – | – |
| Bloemfontein | 3 | 100 | 10 | – | – |
Includes only people living in each area (residents). Figures for December 2021.
Source: New World Wealth
The report furthermore said that despite the overall decline, there were still a number of South African areas that experienced positive US$ wealth growth over the past decade.
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