{"id":875545,"date":"2026-09-15T17:30:16","date_gmt":"2026-09-15T15:30:16","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=875545"},"modified":"2026-09-15T17:30:43","modified_gmt":"2026-09-15T15:30:43","slug":"7100-new-dollar-millionaires-now-live-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/875545\/7100-new-dollar-millionaires-now-live-in-south-africa\/","title":{"rendered":"7,100 new dollar-millionaires now live in South Africa"},"content":{"rendered":"\n

South Africa has added 7,100 dollar-millionaires over the past year, and has maintained its position as Africa\u2019s wealthiest country by a wide margin.<\/p>\n\n\n\n

This is according to the latest 2026 Africa Wealth Report published by New World Wealth. The report found that South Africa was home to 48,200 high-net-worth individuals (HNWIs) as of 30 June 2026.<\/p>\n\n\n\n

This means South Africa now accounts for 38% of Africa\u2019s dollar-millionaires and 36% of the continent\u2019s billionaires.<\/p>\n\n\n\n

Globally, it ranks as the 34th wealthiest country based on the number of millionaire residents, putting it just behind Poland and ahead of countries such as Turkey and Thailand.<\/p>\n\n\n\n

The latest figures represent a significant increase from the previous year, when South Africa had 41,100 HNWIs, including 112 centi-millionaires and eight billionaires.<\/p>\n\n\n\n

New World Wealth defines a millionaire or HNWI as an individual with at least $1 million (about R17 million at current exchange rates) in liquid wealth.<\/p>\n\n\n\n

This includes assets such as equities, exchange-traded funds, cash, bonds, gold and cryptocurrencies.<\/p>\n\n\n\n

The firm excludes illiquid assets such as property, family businesses and private equity from its calculations.<\/p>\n\n\n\n

As a result, its wealth estimates are generally lower than those produced by other wealth research firms.<\/p>\n\n\n\n

The report’s figures are calculated using an in-house model based on a range of economic and wealth indicators.<\/p>\n\n\n\n

These include household income statistics, local stock market capitalisation, tax data, prime property statistics and the number of family offices in each country.<\/p>\n\n\n\n

New World Wealth also maintains a database of wealthy individuals, with a particular focus on company founders and senior executives such as chairpersons, CEOs, presidents, directors and managing partners.<\/p>\n\n\n\n

The firm said South Africa’s appeal to wealthy individuals is driven by a combination of lifestyle, economic and financial factors.<\/p>\n\n\n\n

The report highlighted the diversity of the South African economy, which spans banking, fund management, property, technology, healthcare, mining, chemicals, agriculture, manufacturing, retail, media and entertainment, and tourism.<\/p>\n\n\n\n

The Johannesburg Stock Exchange (JSE) was singled out as another major attraction.<\/p>\n\n\n\n

Lifestyle, education, and healthcare are major draws <\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

According to New World Wealth, it is the 17th-largest stock exchange globally by market capitalisation, with a market value exceeding that of all other African stock markets combined.<\/p>\n\n\n\n

The report also pointed to South Africa’s developed asset-management industry, strong banking system and relatively liquid currency.<\/p>\n\n\n\n

The rand is Africa’s most heavily traded currency and is among the world’s leading emerging-market currencies.<\/p>\n\n\n\n

South Africa’s private healthcare system is another drawcard for wealthy people elsewhere on the continent, with groups such as Netcare and Mediclinic providing specialist medical services.<\/p>\n\n\n\n

The country also offers access to well-established private schools and universities, while its luxury residential areas and lifestyle estates have become important attractions for wealthy residents and retirees.<\/p>\n\n\n\n

New World Wealth highlighted areas including Clifton in Cape Town, Beachy Head Drive in Plettenberg Bay and Eastcliff in Hermanus, as well as estates such as Fancourt, Pezula, Val de Vie, Steenberg and Arabella.<\/p>\n\n\n\n

While South Africa continues to face serious challenges, including high levels of violent crime, New World Wealth described the country as geopolitically stable.<\/p>\n\n\n\n

It also added that its combination of financial markets, healthcare, education and lifestyle continues to make it attractive to wealthy individuals.<\/p>\n\n\n\n

All figures in the report are measured in US dollars and were recorded as at 30 June 2026, with HNWI figures rounded to the nearest 100.<\/p>\n","protected":false},"excerpt":{"rendered":"

South Africa has added 7,100 dollar-millionaires over the past year, and has maintained its position as Africa\u2019s wealthiest country by a wide margin.<\/p>\n","protected":false},"author":92,"featured_media":875578,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"failed","_sma_x_autopost_error":"Instagram publishing failed: Instagram returned HTTP 400: Media ID is not available","_sma_x_post_id":"2099883701790245281","_sma_facebook_post_id":"191437357620492_2206386716848394","_sma_instagram_post_id":"","_sma_x_attempts":1,"footnotes":""},"categories":[9880],"tags":[17935,20993,11877,853],"class_list":["post-875545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-africa-wealth-report","tag-hnwis","tag-new-wolrd-wealth","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/875545","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\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=875545"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/875545\/revisions"}],"predecessor-version":[{"id":875685,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/875545\/revisions\/875685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/875578"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=875545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=875545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=875545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}