South Africa is bleeding rich people – but it’s still where the money’s at
- Get link
- X
- Other Apps
22 April 2021 11:45 AM
South Africa has lost about 4200 dollar millionaires – mainly to the United Kingdom, Australia and the United States – in the past 10 years, according to the Africa Wealth Report 2021.
Other countries that are popular among emigrating dollar millionaires are Switzerland, Israel, Mauritius, New Zealand and the United Arab Emirates.
Despite the drain, South Africa still has 36 500 dollar millionaires - more than twice that of any other country in Africa.
Africa has 125 000 dollar millionaires of which 6200 have a net worth exceeding $10 million.
The Continent has 22 dollar billionaires of which five reside in South Africa.
Johannesburg has 15 100 dollar millionaires and two dollar billionaires.
Cape Town has 6500 dollar millionaires and one dollar billionaire.
The comparatively small Winelands towns of Stellenbosch, Franschhoek and Paarl (total population according to Stats SA: 155 733) have 2800 dollar millionaires and two dollar billionaires.
RELATED: How Stellenbosch became a breeding ground for Afrikaner billionaire businessmen
African cities ranked by total wealth held by individuals:
Johannesburg – $226 billion
Cape Town – $123 billion
Cairo - $118 billion
Lagos - $88 billion
Durban and Umhlanga - $55 billion
Stellenbosch, Paarl, Franschhoek - $47 billion
Nairobi - $47 billion
Pretoria - $42 billion
Casablanca - $39 billion
Accra - $34 billion
Refilwe Moloto interviewed Arabile Gumede about this and other business news making headlines.
Listen to the interview in the audio below [skip to 3:58].
More from Business
'People are hungry, their kids at risk. Find money, and extend Covid-19 grant'
"There’s a Constitutional obligation on the state to ensure that nobody goes hungry," says Lynette Maart (Black Sash).
Read More arrow_forward[WATCH] Heritage Fund is real - Sexwale sticks to his guns on 'looted billions'
Tokyo Sexwale called a press briefing on Thursday. Incoming FSCA Commissioner Unathi Kamlana comments on The Money Show.
Read More arrow_forward'The only way for organisations to remain relevant is to unlearn and relearn'
Sticking to 'that's the way we've always done things' no longer serves businesses, says unlearning expert Zanele Njapha.
Read More arrow_forwardReserve Bank's Unathi Kamlana appointed as new head of FSCA
The Money Show interviews Kamlana, who'll take over as Commissioner of the Financial Sector Conduct Authority in June.
Read More arrow_forwardClicks aiming for 900 stores - 'There are still 300 more pharmacies to open!'
The Clicks Group's profits are up nearly 10% for the six months ended February. Bruce Whitfield interviews CEO Vikesh Ramsunder.
Read More arrow_forwardNWU Business School creating index to measure SA's ability to fight corruption
The North-West University 's Prof. Jan van Romburgh explains the need for the index and how it would work.
Read More arrow_forwardThe downside of rooibos' long shelf life - knocking prices and hurting farmers
There's expected to be a surplus for the third year running. Rooibos Ltd's Martin Bergh explains the cycle on The Money Show.
Read More arrow_forwardWatch out Shoprite - Pick n Pay targeting lower-income shoppers with new stores
Bruce Whitfield interviews outgoing Pick n Pay CEO Richard Brasher after the retail group's results presentation.
Read More arrow_forwardExactly a year ago, oil was so 'cheap' you could literally not give it away
On 20 April, US crude plummeted to minus $40.32. It is now hovering around $65, with $80 in sight, according to Goldman Sachs.
Read More arrow_forward'Having a car loan works against you when applying for a home loan'
Considering a car loan? You may want to think again. Africa Melane interviews financial planner Gerald Mwandiambira.
Read More arrow_forwardMore from Lifestyle
Laundry greywater is destroying your soil, warns expert
Soil scientists from Stellenbosch University have conducted a study suggesting that irrigating your garden with laundry greywater is a bad idea.
Read More arrow_forward'The only way for organisations to remain relevant is to unlearn and relearn'
Sticking to 'that's the way we've always done things' no longer serves businesses, says unlearning expert Zanele Njapha.
Read More arrow_forward[WATCH] Incredible feat as Staffie saves her little brother from swimming pool
The canine rescue went viral, and now the brave pooch has received an award from the Boksburg SPCA.
Read More arrow_forward[EXPLAINER] Over 60? Get a flu jab first (wait 2-3 weeks) then a Covid-19 jab
Dr Angelique Coetzee explains why you should get a flu vaccine before getting one for Covid-19 if you are older than 60.
Read More arrow_forward'Having a car loan works against you when applying for a home loan'
Considering a car loan? You may want to think again. Africa Melane interviews financial planner Gerald Mwandiambira.
Read More arrow_forwardCell C’s data: Very competitive - and you can used its 'fixed' LTE in a phone
Cell C has an LTE plan which is primarily intended for home use but works perfectly in a phone, says Jan Vermeulen of MyBroadband.
Read More arrow_forwardCape Town has a brand-new 28-floor hotel – with robot staff and thrill ride
Hotel Sky is like nothing else in South Africa. The ride is open to guests and the public says its owner, Paul Kelley.
Read More arrow_forward'It's a city built around a park that needs to burn' - Prof Eugene Moll
UWC Biodiversity and Conservation Professor Moll says Capetonians should be included in the TMNP management programme
Read More arrow_forwardHow to buy a basket of cryptocurrencies in South Africa – got R150?
"We’re exceptionally easy to use," says Revix founder Sean Andrew Sanders. "You can start with R150."
Read More arrow_forward'If you have insurance, you have fire insurance. Take your kids and leave!'
"You are definitely covered for fire," says Christelle Colman (Old Mutual Insure). "When the evacuation calls come; just go!"
Read More arrow_forwardMore from Africa
80% of Mozambiquans cannot afford an adequate diet – World Food Programme
More than four in 10 children younger than five are stunted due to severe malnutrition. Lester Kiewit interviews JJ Cornish.
Read More arrow_forwardChad's President Idriss Déby dies on battlefield after clashes with rebels
Provisional election results show 68-year-old President Idriss Déby had been on track to win a sixth term in office.
Read More arrow_forwardBellville refugees reject both reintegration and repatriation as campsite closes
Refugee leader Hafiz Mohammed says the refugees housed at Paint City in Bellville do not accept the final offer made by the Home Affairs Dept.
Read More arrow_forwardSub-Saharan Africa will have the slowest growing economies in the world in 2021
The poorest region in the world is projected to grow at 3.4%, kneecapped by the slow pace of Covid-19 vaccine rollouts.
Read More arrow_forwardShoprite exits Nigeria – Africa’s largest economy - after 15 years
The Continent’s biggest retailer is leaving Nigeria. Lester Kiewit interviews Africa business analyst Victor Kgoemoeswana.
Read More arrow_forwardLesotho-based dagga grower granted licence to export medicinal cannabis to EU
MG Health is the first manufacturer in Africa to be licensed to supply cannabis to the European Union for medicinal use.
Read More arrow_forwardTravel writer describes trip to 'otherworldly Namibian desert'
Freelance travel writer Andrew Thompson chats to Refilwe Moloto about his recent trip with well-priced luxury lodges to boot.
Read More arrow_forward'Mozambique conflict not Islamist. It’s about the gas, and the spoils thereof'
The conflict in Cabo Del Gado is not part of the global jihad, says Dr Joseph Hanlon. It is about people fighting for resources.
Read More arrow_forwardKenya's hospitals running out of oxygen, plea for return of hoarded cylinders
A Kenyan steel billionaire has stepped in to pledge free oxygen for Covid patients, says Chris Bishop (Billionaire Tomorrow).
Read More arrow_forward'Any SADC intervention will ensure Mozambique leads the effort'
Senior Political and Country Risk Analyst at Signal Risk Menzi Ndhlovu provides the latest update.
Read More arrow_forward
Comments
Post a Comment