A new report reveals the richest cities in the world according to total wealth held, and the number of millionaires and billionaires who reside there.

The World Cities Review 2016: The wealthiest cities in the world – report, published by New World Wealth also includes figures for South Africa’s wealthiest cities, namely Johannesburg, Cape Town and Durban.

Total wealth held worldwide amounts to US$185 trillion (as of June 2016). Planet Earth is home to approximately 13,300,000 millionaires and 1,940 billionaires in total, NWW said.

Total wealth held in South Africa meanwhile, amounts to US$580 billion (as of June 2016). The country is home to 40,400 millionaires and seven billionaires in total.

Total wealth held in Johannesburg amounts to US$243 billion, and is home to 17,600 dollar millionaires and two dollar billionaires, NWW said.

Total wealth refers to the private wealth held by all the individuals in each city. It includes all their assets (property, cash, equities, business interests) less any liabilities. We exclude government funds from our figures.

Read: Big shift in racial distribution of South Africa’s super-rich

According to New World Wealth, major sectors in the city include: financial services (banks, accountancies, insurance), professional services (law firms), construction, telecoms and basic materials.

For Cape Town, total wealth held in the city amounts to US$130 billion. The coastal city is home to 7,400 dollar millionaires and two billionaires.

Major sectors in the city include: real estate, financial services (fund management), retail and tourism.

Total wealth held in Durban amounts to US$45 billion, while it is home to 2,700 millionaires and has one billionaire.

Major sectors in the city include: healthcare, construction, retail and transport, NWW said.

Total wealth held in Pretoria amounts to US$42 billion and the capital city is home to 2,600 millionaires.

Major sectors in the city include: basic materials, manufacturing and financial services.

New World Wealth also highlighted emerging wealth areas in South Africa:

Paarl, Franschoek and Stellenbosch: Total wealth of US$40 billion, and 2,500 millionaires.

Garden Route: Total wealth of US$38 billion, and 2,500 millionaires.

Richest areas in South Africa

City Millionaires Billionaires Total wealth Johannesburg 17 600 2 $243 billion Cape Town 7 400 2 $130 billion Durban 2 700 1 $45 billion Pretoria 2 600 – $42 billion Paarl, Franschoek, Stellenbosch 2 500 – $40 billion Garden Route 2 500 – $38 billion

Top 10 richest cities in the world

City Millionaires Billionaires Total wealth London 357 000 62 $2.7 trillion New York City 336 000 65 $2.6 trillion Tokyo 272 000 14 $2.2 trillion San Francisco Bay area 174 000 45 $1.9 trillion Beijing 122 000 45 $1.8 trillion Shanghai 118 000 32 $1.6 trillion Los Angeles 168 000 28 $1.2 trillion Hong Kong 224 000 50 $1.1 trillion Singapore 213 000 23 $870 billion Chicago 135 000 12 $860 billion

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