Entrepreneurs, investors, researchers, and curious readers often ask: What city has the most millionaires in Africa in 2025? Where do the richest Africans live today?
This article gives you a complete breakdown of the city with the most millionaires in Africa in 2025, including the number of millionaires, where they live, the industries that made them rich, and how this city compares to other top African cities.
Whether you're studying wealth trends, planning to invest, or just curious about Africa’s financial hubs, this guide has everything you need to know.
What Is the City with the Most Millionaires in Africa in 2025?
As of 2025, the city with the most millionaires in Africa is Johannesburg, South Africa. It leads the entire continent with an estimated 15,000+ high-net-worth individuals (HNWIs), including centi-millionaires and billionaires.
Johannesburg remains the top destination for wealth in Africa due to its strong financial institutions, luxury real estate market, well-developed infrastructure, and diversified economy.
Why Johannesburg Has the Most Millionaires in Africa
Johannesburg, also known as Egoli (City of Gold), remains Africa’s wealth capital for the following reasons:
1. Strong Financial Sector
It is home to the Johannesburg Stock Exchange (JSE), Africa’s largest and most active stock market. It also hosts top banks like Standard Bank, FirstRand, Nedbank, and ABSA.
2. High-End Real Estate
The city has some of the most expensive properties on the continent, especially in Sandton, Hyde Park, and Houghton Estate. Millionaires invest heavily in real estate.
3. Diversified Economy
Johannesburg is rich in multiple industries:
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Banking and investment
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Mining and precious metals
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Telecommunications and tech
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Real estate and property development
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Legal, medical, and education services
4. Business-Friendly Environment
It is the best-connected business city in Sub-Saharan Africa, with international airports, business parks, luxury malls, and high-level networking opportunities.
5. Established Wealth Networks
Many families have built and maintained wealth for generations, and the city has a culture of investment and private wealth management.
Number of Millionaires in Johannesburg (2025)
According to the most recent data:
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Millionaires (net worth over $1 million): 15,000+
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Centi-millionaires (net worth over $100 million): Over 270
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Billionaires: At least 2 based in the city full-time
This makes Johannesburg not only the richest city in Africa but also the city with the highest number of millionaires in Africa in 2025.
Where Do Millionaires Live in Johannesburg?
Johannesburg’s wealthy population is mostly concentrated in secure, exclusive suburbs with access to luxury amenities.
1. Sandton
Known as the “richest square mile in Africa,” Sandton hosts corporate HQs, five-star hotels, high-rise apartments, and elite shopping centers.
2. Hyde Park
This suburb is known for its large, secure mansions and elegant old-money feel. It’s home to CEOs, diplomats, and business owners.
3. Houghton Estate
A blend of heritage and wealth. Nelson Mandela lived here. Many homes have been renovated into smart luxury villas.
4. Bryanston & Morningside
Popular among younger millionaires in tech, media, and entrepreneurship. These areas offer gated communities and proximity to Sandton’s business district.
Industries That Created the Most Millionaires in Johannesburg
Johannesburg is a millionaire-making machine due to its economic diversity. The most lucrative sectors include:
1. Finance & Investment
This is the largest source of wealth in Johannesburg. Millionaires in this sector include fund managers, private bankers, and financial advisors.
2. Real Estate & Property Development
With rising land values and luxury development projects, real estate has produced thousands of millionaires in Johannesburg.
3. Mining & Resources
Many of the city’s oldest fortunes were built on gold and platinum mining. The mining sector still fuels high executive salaries and dividends.
4. Telecom & Technology
Companies like MTN, Vodacom, and tech startups are producing a new wave of young, wealthy entrepreneurs.
5. Retail, Law, and Consulting
Retail conglomerates, top law firms, and consulting firms like PwC and Deloitte have millionaires on their payrolls and as partners.
How Johannesburg Compares to Other African Cities
| City | Country | Estimated Millionaires (2025) | Main Wealth Drivers |
|---|---|---|---|
| Johannesburg | South Africa | 15,000+ | Finance, Mining, Real Estate |
| Cape Town | South Africa | 7,200+ | Property, Tourism, Tech |
| Cairo | Egypt | 6,500+ | Real Estate, Finance, Retail |
| Lagos | Nigeria | 5,400+ | Oil, Tech, Trade, Banking |
| Nairobi | Kenya | 4,700+ | ICT, Agriculture, Real Estate, Finance |
| Casablanca | Morocco | 3,200+ | Banking, Manufacturing, Property |
| Durban & Umhlanga | South Africa | 3,500+ | Ports, Property, Tourism |
Johannesburg leads the pack by far, nearly doubling the millionaire count of its closest rivals.
FAQs – City with the Most Millionaires in Africa 2025
Which city has the most millionaires in Africa 2025?
Johannesburg, South Africa.
How many millionaires live in Johannesburg in 2025?
Over 15,000 individuals with net worth above $1 million.
Where do millionaires live in Johannesburg?
Sandton, Hyde Park, Houghton, Bryanston, and Morningside.
Why is Johannesburg the richest city in Africa?
Because of its stock exchange, strong banking sector, mining legacy, and luxury property market.
Are there billionaires in Johannesburg?
Yes. At least two billionaires and over 270 centi-millionaires are based in the city.
How does Lagos compare to Johannesburg in terms of wealth?
Lagos is growing fast but has less than half the millionaire population of Johannesburg.
Key Takeaways from the City with the Most Millionaires
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Urban wealth concentrates around finance and property.
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Johannesburg offers business infrastructure no other African city can match.
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Wealthy people prefer cities with global connections and top-class amenities.
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Millionaires are growing fastest in cities with diverse economies and political stability.
Final Thoughts: Where Do the Rich Live in Africa?
If you're asking, “Which African city has the most millionaires in 2025?” — the answer is clear: Johannesburg, South Africa.
It dominates Africa’s wealth charts with over 15,000 millionaires, world-class infrastructure, and unmatched financial services. The city’s rich live in some of the most exclusive neighborhoods on the continent and generate wealth through sectors that are stable, profitable, and global.
Whether you’re planning to invest, move, or build your network, Johannesburg is the best place to connect with Africa’s rich and powerful.