According to a recent report, the city of Johannesburg, has an estimated wealth of US$245 billion (R3.1 trillion).
Research undertaken by AfrAsia Bank and New World Wealth, found that Johannesburg is home to 18,200 millionaires, 970 multi-millionaires and two billionaires - all calculated in US dollars.
Coming in second was Cairo with US$140 billion in total wealth.
South Africa takes the bronze title with Cape Town coming in third with 8200 millionaires, 480 multi-millionaires and five billionaires – a collective wealth totalling US$135 billion.
South Africa’s richest people earn their wealth through real estate and construction – accounting for 20% of all wealth sources in the country.
Nigeria’s Lagos, Kenya’s Nairobi, capital of Angola, Luanda, Morocco’s Casablanca and Ghana’s Accra, also featured on the rich-city list.
Also in a 2017 report, the individual wealth in Africa totalled $2.2trn (R29.16trn). It stated that there are an estimated 145 000 high net worth individuals living in Africa, with a combined wealth of about $800 billion (R10.6trn).
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