Cape Town crowned billionaire hub — Winelands draws South Africa’s richest

Winelands

Cape Town – Cape Town and the Winelands region lead South Africa in billionaire concentration, with six living in these areas, while Johannesburg has only two, according to Henley & Partners in its Africa Wealth Report for 2025.

Despite this, Johannesburg remains Africa’s wealthiest city by number of millionaires, with 11,700, compared to Cape Town’s 8,500.

Africa now boasts 25 billionaires, 348 centi-millionaires, and 122,500 millionaires — a dramatic shift from the late 20th century, when the continent had only a handful of billionaires and much of its economy was struggling in prolonged decline.

In total, South Africa accounts for 34% of Africa’s millionaires, far outpacing other countries.

Cape Town is emerging as a hub for centi-millionaires and prime real estate, with 35 super-wealthy residents and an average property price of $5,800/m², and its wealth is projected to surpass Johannesburg by 2030.

The Winelands has grown rapidly as a millionaire and billionaire destination, driven by retirees moving to Paarl, Franschhoek, and Stellenbosch.

Other regions like Pretoria, Durban, and the Garden Route have no billionaires but host some centi-millionaires. Across Africa, millionaires are expected to grow by 65% over the next decade, with South Africa continuing to dominate the continent’s wealth landscape.

Top billionaire cities in Africa include Cairo (5), Cape Town (3), Cape Winelands (3), Johannesburg (2), and Lagos (2).

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