South Africa's dollar millionaires in numbers

STOCK image of Johannesburg's city skyline at night.

STOCK image of Johannesburg's city skyline at night.

Flickr.com / Nico Roets

JOHANNESBURG - Wealthy South Africans hold a total private wealth of US$649-billion, that's R9-trillion.

This is as of December 2018 and its according to AfrAsia Bank South Africa Wealth Report 2019.

The figure above, however, shows a decline in the trend of at least 10 percent, according to the study.

The report shows that 39,200 South Africans had assets of $1-million (R14-million) or more; 2,070 had net assets of $10-milliion (R140-million) or more; and 649 had net assets of $100-million (R1.4-billion) or more in private wealth.

READ: Why South Africa should seriously consider taxing its wealthy citizens

The survey shows that South Africa has twice as many millionaires more than any African country.

The city with the most private wealth held by individuals was Johannesburg followed by Cape Town and Durban.

Their source of wealth came from various sectors.

30% made their wealth from the financial and professional services, 16% from Real Estate, 9% from technology and telecoms and others from other sectors such as retail, media and FMCG sectors.

Source
eNCA

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