Migrating millionaires from South Africa and Nigeria were linked o over $3 billion in wealth

  • Nigeria lost 200 more millionaires than it gained between 2014 and 2024.
  • Migrating Nigerian millionaires were linked to an estimated $1.5 billion in wealth.
  • South Africa had Africa’s biggest net millionaire outflow among the selected countries.
  • Mauritius and Seychelles stood out as millionaire wealth magnets.
  • Seychelles attracted the highest migrant wealth per net millionaire gained.

 

An estimated $1.5 billion in wealth was linked to migrating Nigerian millionaires between 2014 and 2024.

The country recorded 200 more millionaire departures than arrivals over the period, while South Africa recorded Africa’s largest net millionaire outflow, with more than 250 departures than arrivals linked to an estimated $1.6 billion in wealth.

On the opposite end, island economies emerged as some of Africa’s strongest wealth magnets. Mauritius and Seychelles together recorded net inflows linked to an estimated $1.5 billion in wealth.

Notably, Seychelles attracted a more concentrated pool of wealthy migrants, drawing an estimated $1 billion from just 50 more millionaire arrivals than departures, compared to Mauritius’ estimated $500 million from a net inflow of more than 100 millionaires.

Source:

Henley & Partners

Period:

20
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