The House She Built a Source of Conflict

-
There was a time when everything seemed to be going right for Amara . She was a beautiful woman, not only in appearance but in the way she carried herself. She grew up in a loving home, surrounded by parents who worked hard and believed that their children should never lack opportunities. Her father was a respected man who worked tirelessly to provide for the family, while her mother was equally hardworking. They raised their daughters with discipline, kindness, and the belief that education and hard work were the keys to a good life. Amara was the elder daughter. Her younger sister, Nadia , was also intelligent and ambitious. The two sisters grew up watching their parents work together, and they learned an important lesson from them: nothing worthwhile comes without sacrifice. As the years passed, both sisters became successful in their own ways. Amara worked hard, saved her money, and eventually achieved something she had dreamed about since she was young. She bought a beauti...
Post a Comment

How much money you need to be in the richest 1% in South Africa

-

 24 February 2021

Global property consultancy group Knight Frank has published its 2021 Wealth Report, showing how many dollar millionaires are in South Africa – and how many are considered multi-millionaires.

According to the report, as of December 2020 there are 44,605 dollar millionaires living in the country, down from 52,109 recorded in 2019, but the group anticipates that millionaires will grow in number again by 2025 – hitting around 63,400.

In terms of multi-millionaires – individuals with a net worth over $30 million (R436 million) – South Africa has also seen a decline, with Knight Frank recording 742 individuals at the end of 2020, down from 768 the year before.

Forward projections for all millionaires is based on GDP performance, the direction of the property market, as well as equities.

Top 1% 

In its 2021 report, Knight Frank looked specifically at the “frequently cited, sometimes maligned” one-percenters – the top earning, or wealthiest individuals in the world.

For its report, Knight Frank categorised the one-percent according to net wealth: assets less liabilities.

The group noted that level of net wealth that marks the threshold for entering this exclusive community varies widely among different countries and territories. Interestingly it falls far short of the definition of a UHNWI ($30 million+) who are often associated with the grouping.

Even in Monaco, which has the world’s densest population of super rich, the entry point for the principality’s branch of the 1% club is $7.9 million (R115 million), the group noted.

Switzerland, where $5.1 million (R74 million) gains you access, is second, followed by the US, which has the highest number of UHNWI residents. Here, $4.4 million (R64 million) puts you in the 1% category.

Singapore, in fourth place, is Asia’s highest entry, marginally ahead of Hong Kong, with the level of wealth required being $2.9 million (R42 million) and $2.8 million (R41 million) respectively.

New Zealand sets a $2.8 million (R41 million) barrier – $80,000 (R1.16 million) more than you would need in neighbouring Australia. Argentina is the highest entry for Latin America at $360,000 (R5.2 million), ahead of Africa’s highest – South Africa at $180,000 (R2.6 million).

Developing economies Indonesia and Kenya have thresholds that are below 1% of the level of Monaco at $60,000 (R872,000) and $20,000 (R291,000) respectively.

India has the same 1% level – $60,000 (R) – but with a UHNWI population 10 times that of Indonesia and 14 times that of the Philippines

Read: South Africa is losing thousands of millionaires

Must Read

Comments

Post a Comment

Popular posts from this blog

This New Ultralight Aircraft May Be World’s Fastest Single-Engine Business Jet

-
Image
  The speedy LAR-01's automotive interior adds comfort and luxury. Plus: The wings detach, so the jet can be stored in a home garage. By  MICHAEL VERDON           Courtesy Flaris The  Flaris  LAR-01 has a number of striking stats, including being a ton lighter (literally) than its competitors, along with an unusually short-field landing capability, and detachable wings. But its most impressive number is the 250-knot true air speed, which its designers say makes it the world’s fastest business jet among single-engine very light jets and turboprop aircraft. Flaris says recent tests “confirmed the assumptions made previously” about the effectiveness of multiple systems, including its Garmin G600 avionics and Flaris Flight Assistance System flight computer, as well as the landing gear and emergency parachute system. But it also claims more impressive stats like the 250-knot TSA at 10,000 feet. Its 6,000-feet-per-minute climb rate, adds the compan...
Read more

Fighting Drug addiction

-
 Here's the story: We sat down with a man who had a harrowing journey with addiction. He began by telling us about his early days in tertiary education, where he would occasionally smoke dagga with friends. However, his focus remained on his studies, and he worked hard to graduate and secure a qualification. After landing a job, he started building a life for himself. He got married, bought a property, and even splurged on a car. Life was good, and he felt like he was on top of the world. But one fateful night, while out with friends, he was introduced to heavier narcotics. At first, the experience was exhilarating. He described it as an elevation from the mild high of dagga to a level 5 high, where he felt invincible and euphoric. The effects would last for days, allowing him to party from Friday to Sunday without sleep. The problem, however, began to manifest on Mondays and Tuesdays every week, when the withdrawal symptoms would kick in, and he'd struggle to function at work....
Read more

Ultra-Widebody Volkswagen Bus "Volkswide" Looks Like a Porsche Racing Van

-
Image
  Home   >   News   >   Renderings It's easy to understand why a muscle car or a Ferrari is cool - the big engine and cool body. But car culture is also influenced by television, rarity, or simply a generation growing up with a particular vehicle. The Volkswagen Bus is a perfect example of this because it's slow, not sporty-looking, yet it can cost a lot of money.  16 photos The Bus is perhaps one of the least understood collectibles, right up there with bubble cars. You see them grabbing huge money at auctions, making it difficult to visualize why somebody wouldn't rather have a Ferrari or some 1960s Mustang. Comedian Gabriel Iglesias is known as the VW Bus King, as his collection of Vdubs is reportedly worth in excess of $3 million. The Hoonigan crew recently did a feature video, but we still had trouble picturing the value of these vehicles. Fortunately, there's a set of renderings that takes the visuals of the Microbus to the level where everybody...
Read more