Most SA billionaires live in Joburg - report
Johannesburg came out tops as the city in South Africa with the highest number of millionaires and billionaires in the country.
According to the World Cities Review 2016, published by New World Wealth, Johannesburg is home to 17 600 millionaires and two billionaires, accounting for a total wealth of $243bn.
Three other South African cities – Cape Town, Durban and Pretoria also made it onto a list of the wealthiest cities in the world, although South African cities’ wealth were small in relation to other global cities.
According to the report, the fastest-growing cities in the world measured by wealth over the past decade are Beijing, Shanghai, Mumbai and Sydney. But going forward the fastest growing spot is expected to go to Mumbai in India.
The report shows Cape Town houses 7 400 millionaires and two billionaires, which together hold $130bn of wealth. Durban accounts for $45bn of wealth and houses 2 700 millionaires and 1 billionaire. Pretoria holds $42bn of wealth and is home to 2 600 millionaires.
Paarl, Franschoek and Stellenbosch were also mentioned as emerging wealthy towns with a total wealth of $40bn.
The Garden Route, home to 2 500 millionaires of which a large number are retirees, were also named in the report. The most significant towns along the Garden Route are George, Knysna, Plettenberg Bay and Wilderness.
READ: The world's best cities to live in
The 15 most affluent cities in the world are:
1. London: total wealth $2.7tr and home to 357 000 millionaires and 62 billionaires.
2. New York City: total wealth $2.6tr; home to 336 000 millionaires and 65 billionaires.
3. Tokyo: total wealth $2.2tr; home to 272 000 millionaires and 14 billionaires.
4. San Francisco Bay area: total wealth $1.9tr; home to 174 000 millionaires and 45 billionaires.
5. Beijing: total wealth $1.8tr; home to 122 000 millionaires and 45 billionaires.
6. Shanghai: total wealth $1.6tr; home to 118 000 millionaires and 32 billionaires.
7. Los Angeles: total wealth $1.2tr; home to 168 000 millionaires and 28 billionaires.
8. Hong Kong: total wealth $1.1tr; home to 224 000 millionaires and 50 billionaires.
9. Singapore: total wealth $870bn; home to 213 000 millionaires and 23 billionaires.
10. Chicago: total wealth $860bn; home to 135 000 millionaires and 12 billionaires.
11. Sydney: total wealth $850bn; home to 110 000 millionaires and 14 billionaires.
12. Toronto: total wealth $850bn; home to 108 000 millionaires and 12 billionaires.
13. Frankfurt: total wealth $830bn; home to 120 000 millionaires and 20 billionaires.
14. Mumbai: total wealth $820bn; home to 45 000 millionaires and 28 billionaires.
15. Paris: Total wealth $800bn; home to 107 000 millionaires and 18 billionaires.