South Africa, Egypt and Morocco are home to Africa's largest populations of ultra-high-net-worth individuals (UHNWIs), reinforcing their position as the continent's leading wealth hubs, according to Knight Frank.
In its latest Wealth Report, the real estate consultancy ranks the three countries among the world's top destinations for the super wealthy.
The report defines ultra-high-net-worth individuals as people with a net worth of at least $30 million (Sh3.88 billion), excluding the value of their primary residence.
Although they account for a very small share of the global population, this group controls a substantial portion of worldwide wealth and remains a key source of investment, entrepreneurship and capital deployment.
Notably, South Africa is Africa's highest-ranked country, placing 37th globally with 1,347 ultra-high-net-worth individuals in 2026.
The property consultancy expects that figure to rise to 1,564 by 2031, signalling continued wealth accumulation despite a challenging domestic economic environment.
Egypt follows as the continent's second-largest wealth hub, ranking 42nd worldwide with 822 ultra-rich individuals.
Knight Frank projects the country's wealthy population will expand to 977 over the next five years.
Morocco completes Africa's top three, ranking 44th globally with 432 ultra-high-net-worth individuals, and the figure is expected to increase to 550 by 2031, reflecting growing private wealth in the North African nation.
Globally, the number of ultra-wealthy individuals has expanded significantly over the past five years.
Knight Frank estimates that the worldwide UHNWI population increased from 551,435 in 2021 to 713,626 in 2026, representing an addition of 162,191 individuals with fortunes exceeding $30 million (Sh3.88 billion).
The increase translates to an average of about 89 people joining the ultra-rich category every day during the five-year period.
The United States (US) accounts for the largest share of this wealth creation, producing 41 per cent of all newly minted ultra-high-net-worth individuals between 2021 and 2026.
The country remains the world's biggest concentration of the super-rich, while China ranks second with nearly 122,000 individuals in the category.
Together, the US and China are home to about 55 per cent of the world's ultra-high-net-worth population, underscoring their continued dominance in global investment, technology, innovation and wealth creation.
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