The cities in South Africa with the most millionaires – and a new king emerging

Johannesburg is still home to the most dollar millionaires on the continent, but Cape Town is set to take its crown at the end of the decade.

“Johannesburg is home to the Johannesburg Stock Exchange, the largest stock exchange in Africa by some margin and one of the world’s top 20 exchanges,” said Henley & Partners and New World Wealth.Cape Town comes in second with 7,400 HNWIS. Cape Town is also an incredibly popular retirement destination for migration millionaires from Europe and the rest of Africa.“We expect several major, which should help to drive wealth growth.

Many of the wine farms in the area are also owned by ultra-wealthy HNWIs and centi-millionaires – those with wealth over $100 million who often retire there.

Source: News Formal (newsformal.com)

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