10 Things You Should Know About South Africa’s Ultra-Rich

AFRICANGLOBE – At the end of 2014, there were approximately 46,800 high net worth individuals (HNWIs) living in South Africa, with a combined wealth of US$184 billion.

HNWIs are defined as people who have a net worth of US$1 million or more, according to metrics used by research firm, New World Wealth.

This equates to roughly 31% of South Africa’s total individual wealth.

But who are the wealthy? Where do they live? How did thy make their money?

We provide a list of 10 things we know about South Africa’s super rich.

1. How the rich make their money in SA

A report published by New World Wealth revealed the industry from which South African multi-millionaires have acquired their wealth.

Unsurprisingly, the financial services industry is the primary source of wealth for 20% of local multi-millionaires.

NWW defines wealth as the net value of assets, which includes financial holdings, business interests and tangible assets. The group excludes primary residences from it’s valuation.

10 Things You Should Know About South Africa’s Ultra-Rich
Multimillioniares by industry