Cape Town is home to 7,400 millionaires and one billionaire, but they are denominated in US dollars rather than rands.
This is according to the 2024 Africa Wealth Report, published by international wealth advisory firm Henley & Partners in collaboration with global wealth intelligence partner New World Wealth.
The 9th edition of the annual report shows that Africa is currently home to 135,200 high net worth individuals (HNWIs) with liquid investable assets of $1 million or more, valued at more than $100 million. It has been revealed that there are 342 and 21 centimillionaires. dollar millionaire.
South Africa is still home to more than twice as many wealthy people, despite a tough situation where the millionaire population has fallen by 20% over the past decade Riku Mens Similar to other African countries, Egypt has 37,400 millionaires, 102 millionaires and 5 millionaires, followed by Egypt with 15,600 billionaires, 52 millionaires and 5 millionaires. Seven people are the oldest.
At the city level, Johannesburg retains its position as Africa's richest city, with 12,300 millionaires, 25 centimillionaires and 2 billionaires.
Cape Town follows closely with 7,400 millionaires, 28 centi-millionaires and 1 millionaire.
The report highlighted that the Cape Winelands region of the Western Cape is home to 3,600 millionaires, 16cm millionaires and 2 millionaires.
The most affluent suburbs in the Mother City are Clifton, Bantry Bay, Camps Bay, Bishopscourt, Constantia, Llandudno and St James.
The city is currently benefiting from the ongoing 'migration' of large numbers of wealthy people from other parts of South Africa, Europe and Africa.
Cape Town is on track to overtake Johannesburg as Africa's wealthiest city by 2030.
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