The city in South Africa where billionaires want to live

Four South African cities have been ranked among the world’s top centi-millionaire hotspots, but Cape Town has emerged as the top pick among the country’s super wealthy.

Centi-millionaires are individuals who have more than $100 million in liquid investable assets—about R2 billion—making up one of the most critical demographics of any country.

According to New World Wealth, this is because this grouping are often entrepreneurs and business leaders who contribute greatly to a country’s economy, job creation and wealth growth.

“With 30,450 current members worldwide, this exclusive group continues to reshape cities, economies, and investment migration patterns in profound ways,” it said.

The wealth group said that centi-millionaires often have an outsized impact on global wealth creation.

“Our research reveals that most companies listed on the Fortune 500, S&P 500, FTSE 100, and Nikkei 225 were established by entrepreneurs who ultimately became centi-millionaires,” it said.

“These wealth creators don’t simply accumulate capital — they transform economies, drive innovation, and increasingly shape the destinations they choose as home bases.”

South Africa has a relatively small contingent of centi-millionaires, with four key locations hosting a combined 88 individuals.

For context, this is the same as number of super wealthy individuals living in Munich, Germany alone, and almost a tenth of the number of centi-millionaires staying in New York City—the biggest centi-millionaire city in the world.

Nevertheless, all of South Africa’s centi-millionaire hotspots are considered high growth areas, according to New World Wealth, exhibiting high potential for the creation of wealth.

High growth hotspots are cities that cities that show the potential to more than double (growth of 100%+) over the next decade.

New World Wealth said that there is a notable shift to wealth growth in the Middle East, driven by the region’s strategic pivot toward becoming a global financial center, combined with zero income and capital gains taxes.

Another major growth hotspot is in India, signaling the maturation of India’s tech ecosystem and the emergence of a new generation of digital entrepreneurs.

Other growth drivers are schemes like citizenship and residence access through moving, which is putting countries like Malta, the Cayman Islands and even Swiss cities on the heatmap.

Where billionaires want to live

New World Wealth said that cities and countries that offer investment migration options will always be top of mind for the world’s super-rich.

However, they value stability, safety, world-class services and infrastucture as well.

The research group said that centi-millionaires are highly mobile and vote with their feet, making the market particularly competitive.

While South Africa struggles to tick the right boxes to draw external wealth, particularly in terms of safety and infrastructure, it does have many drawcards.

The lower cost of living for those who have wealth means they can get a lot more for a lot less than other jusrisdictions, and many of the safety and infrastructure issues can be circumvented.

Crucially, though, the country has a lot of opportunity and potential for growth—and lovely weather.

Of the South African cities ranked among the global centi-millionaire hotspots, Cape Town checks most of the boxes on the list, being the best-run metropolitan city in the country.

Over the next decade or so, New World Wealth expects that the super wealthy will continue to respond to both macro-economic trends and individual mobility decisions on a global scale.

They will be looking to establish residences in jurisdictions that not only preserve their wealth but enable its continued growth, it said.

“For governments worldwide, the lesson is equally clear: attracting and retaining this elite wealth cohort requires more than short-term tax incentives.”

“It demands a comprehensive approach to governance, security, education, healthcare, and quality of life — the very factors that transform cities from mere destinations into true centi-millionaire capitals.”

Countries that provide investment migration pathways, backed by strong governance, economic freedom, and world-class infrastructure, will continue to attract the elite wealth creators, it said.

“Simply put, the cities that make it easy to enter, invest, and thrive will remain the ones that the world’s wealthiest choose to call home.”