Johannesburg, the city where the highest number of South Africa's millionaires live.
Photo: Facebook
Johannesburg, the city where the highest number of South Africa's millionaires live. Photo: Facebook
DURBAN - The South African Wealth Report for 2017 by New World Wealth shows that which cities South Africa's 43 600 millionaires reside. .

The report showed that in 2016 that there were 40 400 millionaires in the country. This is an 8% increase.

The report states that by the year 2027 there will be 56 000 millionaires living in South Africa, a 28% increase from 2017.

These millionaires are also known as High Net Worth Individuals (HNWIs). They are called HNWIs because the have net assets that at more than $1 million.

There are 2 200 South Africans that have net assets worth $10 million or more. The report also showed that there are 98 South Africans that have net assets worths $100 million or more.

Johannesburg has the highest number of millionaires living in the city. There are 18 400 HNWIs living in Johannesburg and 970 residents with assets worth $10 million or more.

Cape Town has 8300 HNWI residents and 490 residents that have assets worth $10 million or more, while Durban has 3400 HNWI residents and 210 residents that have assets worth $10 million or more.


Here is the complete South African city wealth breakdown for 2017:

Source: The New World Wealth


 





- BUSINESS REPORT ONLINE