{"id":820087,"date":"2025-04-08T14:00:00","date_gmt":"2025-04-08T12:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=820087"},"modified":"2025-04-08T12:50:47","modified_gmt":"2025-04-08T10:50:47","slug":"the-city-in-south-africa-where-billionaires-live","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/820087\/the-city-in-south-africa-where-billionaires-live\/","title":{"rendered":"The city in South Africa where billionaires want to live"},"content":{"rendered":"\n

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.<\/p>\n\n\n\n

Centi-millionaires are individuals who have more than $100 million in liquid investable assets\u2014about R2 billion\u2014making up one of the most critical demographics of any country.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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

The wealth group said that centi-millionaires often have an outsized impact on global wealth creation.<\/p>\n\n\n\n

“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.<\/p>\n\n\n\n

“These wealth creators don\u2019t simply accumulate capital \u2014 they transform economies, drive innovation, and increasingly shape the destinations they choose as home bases.”<\/p>\n\n\n\n

South Africa has a relatively small contingent of centi-millionaires, with four key locations hosting a combined 88 individuals.<\/p>\n\n\n\n

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\u2014the biggest centi-millionaire city in the world.<\/p>\n\n\n\n

City<\/th>Centi-millionaires<\/th>Growth potential<\/th><\/tr><\/thead>
Cape Town<\/td>34<\/td>High (100%+)<\/td><\/tr>
Johannesburg<\/td>24<\/td>High (100%+)<\/td><\/tr>
Cape Winelands<\/td>18<\/td>High (100%+)<\/td><\/tr>
Umhlanga & Ballito<\/td>12<\/td>High (100%+)<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n

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.<\/p>\n\n\n\n

High growth hotspots are cities that cities that show the potential to more than double (growth of 100%+) over the next decade.<\/p>\n\n\n\n

New World Wealth said that there is a notable shift to wealth growth in the Middle East, driven by the region\u2019s strategic pivot toward becoming a global financial center, combined with zero income and capital gains taxes.<\/p>\n\n\n\n

Another major growth hotspot is in India, signaling the maturation of India\u2019s tech ecosystem and the emergence of a new generation of digital entrepreneurs.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Where billionaires want to live<\/h2>\n\n\n\n
\"\"<\/a>
Cape Town offers a lot of what the super wealthy want when it comes to settling down.<\/figcaption><\/figure>\n\n\n\n

New World Wealth said that cities and countries that offer investment migration options will always be top of mind for the world\u2019s super-rich.<\/p>\n\n\n\n

However, they value stability, safety, world-class services and infrastucture as well.<\/p>\n\n\n\n

The research group said that centi-millionaires are highly mobile and vote with their feet, making the market particularly competitive.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Crucially, though, the country has a lot of opportunity and potential for growth\u2014and lovely weather.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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

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

“It demands a comprehensive approach to governance, security, education, healthcare, and quality of life \u2014 the very factors that transform cities from mere destinations into true centi-millionaire capitals.”<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

“Simply put, the cities that make it easy to enter, invest, and thrive will remain the ones that the world\u2019s wealthiest choose to call home.”<\/p>\n","protected":false},"excerpt":{"rendered":"

South Africa has four rand-billionaire hotspots, but there is a clear winner when it comes to where the super-rich are putting down roots.<\/p>\n","protected":false},"author":10,"featured_media":682715,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[2279,22240,1996,6440],"class_list":["post-820087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-cape-town","tag-centi-millionaire","tag-johannesburg","tag-new-world-wealth"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/820087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=820087"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/820087\/revisions"}],"predecessor-version":[{"id":820101,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/820087\/revisions\/820101"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/682715"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=820087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=820087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=820087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}