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With 14,600 millionaires, Johannesburg is Africa's wealthiest city

With 14,600 millionaires, Johannesburg is Africa's wealthiest city

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South Africa’s commercial capital, Johannesburg, remains Africa’s wealthiest city. Also called the “City of Gold,” it is home to the largest number of dollar millionaires in the continent, according to the World’s Wealthiest Cities Report 2023. The study was compiled by international investment migration firm Henley & Partners and global wealth intelligence firm New World Wealth.

The "City of Gold," Johannesburg, remains Africa's wealthiest city, according to the World's Wealthiest Cities Report 2023 compiled by international investment migration firm Henley & Partners and global wealth intelligence firm New World Wealth. The report shows that Johannesburg is home to the largest number of dollar millionaires in the continent, with 14,600 high net-worth individuals, including 30 dollar centi-millionaires and two dollar-billionaires. The city has, however, seen a 40% decrease in the number of high net-worth individuals from 16,000 in 2022. Johannesburg's wealthy status can be attributed to its position as the gold and diamond mining capital of Africa and home to Africa's largest stock exchange, among other factors.


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