Africa's largest concentrations of ultra-high-net-worth individuals are found in just three countries — South Africa, Egypt and Morocco, according to The Wealth Report 2026 published by international real estate consultancy Knight Frank.
The report found that South Africa remains the continent's leading wealth hub, with 1,347 individuals holding net assets exceeding $30 million, placing the country 37th globally in terms of ultra-wealthy residents.
Egypt ranked second in Africa with 822 ultra-high-net-worth individuals, while Morocco came third with 432 people whose fortunes exceed $30 million.
The report defines ultra-high-net-worth individuals (UHNWIs) as people with net assets of at least $30 million, excluding the value of their primary residence. Despite representing a tiny share of the global population, this group plays a major role in investment, entrepreneurship and capital allocation.
According to Knight Frank, South Africa, Egypt and Morocco are expected to further strengthen their positions as Africa's main wealth centres over the coming years, with the number of ultra-wealthy individuals projected to increase by 2031.
The report's authors said the continued growth in the number of wealthy individuals in these countries reflects the expansion of wealth centres across Africa, despite the economic challenges facing many countries on the continent.
Globally, the number of ultra-high-net-worth individuals rose from 551,435 in 2021 to 713,626 in 2026, an increase of more than 162,000 people in just five years.
Based on those figures, an average of 89 people joined the ranks of individuals with fortunes exceeding $30 million every day between 2021 and 2026.
The report attributed much of that growth to the United States, which accounted for 41% of all newly created ultra-high-net-worth individuals during the five-year period.
The United States retained its position as the world's largest concentration of ultra-wealthy individuals, while China ranked second globally with nearly 122,000 people holding fortunes above the $30 million threshold.
