Report shows how many millionaires live in South Africa in 2025

South Africa has long built a reputation as Africa’s wealth capital. Its financial hubs and economic influence make it the first place many think of when it comes to private wealth on the continent.

In 2025, the numbers confirm it, South Africa hosts more millionaires than any other African nation.

SA is home to 34 percent of Africa’s millionaire population

Henley & Partners’ Africa Wealth Report 2025 shows that South Africa hosts 41,100 millionaires in 2025, individuals with at least US$1 million in investable assets. That figure represents 34 percent of all millionaires on the continent, more than a third of Africa’s total millionaire population, and nearly equal to the combined total of the next five wealthiest countries.

Even as it leads the continent, South Africa has lost 2,466 millionaires over the past decade, marking a 6% decline. The report also reveals that the country’s wealth is concentrated in two powerhouse cities.

Johannesburg leads with 11 700 millionaires, mostly clustered in Sandton and the city’s wealthy northern suburbs.

Cape Town follows with 8 500 millionaires and claims the crown for luxury real estate, averaging $5 800 per square metre for prime property, which includes high-end suburbs and lifestyle appeal in prestigious neighbourhoods such as Clifton, Camps Bay, Constantia, Fresnaye, and Bantry Bay.

The data also revealed that South Africa has 112 Centi-millionaires (with investable assets of US$100 million or more) and 8 Billionaires (with investable assets of US$1 billion or more).