Too few? South Africa has 'only' 43,600 dollar millionaires - new report reveals

Too few? South Africa has 'only' 43,600 dollar millionaires - new report reveals

- The South African Wealth Report reveals the country has 43,600 dollar millionaires

- This is up from 40,400 at the end of 2016

- South Africa also has 5 dollar billionaires

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South Africa currently has 43,600 individuals with a net worth of $1 million or more, according to the South African Wealth Report for 2018.

The New World Wealth published the report recently, Briefly.co.za learned.

The number of these high net worth individuals (HNWIs) has gone up from the 40,400 recorded at the end of 2016.

Representational image. Source: Google

Representational image. Source: Google

The number stood at 38,500 in 2015. This increase is in line with the general wealth growth in the country.

According to the report, total private wealth rose from $670 billion at the end of 2016 to $722 billion at the end of 2017. HNWIs account for 42 percent, or $306 billion, of this.

READ ALSO: 8th wife of King Mswati takes her own life after years of abuse

The country is also host to 2,200 multimillionaires, or individuals with a net worth of more than $10 million.

In addition, it is home to five dollar billionaires. The wealth per capita in South Africa also stands at $12,900, the second highest in Africa after Mauritius.

READ ALSO: Zuma presented with R10 million bill for state capture case

See who Mzansi's billionaires are in the video below from our Briefly - South Africa YouTube channel.

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Source: Briefly.co.za

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