Millionaires:
- The number of millionaires in South Africa reached 48,800 at the end of 2012, an increase of 9% over the previous year.
- Johannesburg accounted for 23,400 of South Africa’s millionaires in 2012, followed by Cape Town with just over 9,000 millionaires.
- According to WealthInsight analyst Andrew Amoils: "The most interesting statistics were in Sandton, which accounted for 15,300 of Johannesburg’s millionaires. Sandton experienced far stronger growth than the rest of the country with millionaire numbers in the area rising by 18% during the past year."
Multi-millionaires:
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- The number of multi-millionaires (US$30m+) in South Africa reached 594 at the end of 2012. Johannesburg accounted for 285 of these individuals followed by Cape Town with 110.
- According to WealthInsight analyst Andrew Amoils: "Johannesburg has more multi-millionaires than any other African city, ranking well above the likes of Cairo, Cape Town and Lagos. However, it ranks well below the top ranked city in the world, London, which has over 4200 multi-millionaires, 15 times as many as Johannesburg."
Billionaires
- The number of billionaires (US$1 billion+) in South Africa remained at four in 2012. They include: Nicholas Oppenheimer and family, Johann Rupert, Patrice Motsepe and Christo Wiese.
- There were an additional 158 centi-millionaires, with assets of between US$100 million and US$1 billion, in the country at the end of 2012.
Definitions:
- "Millionaires" otherwise known as "high net worth individuals" or "HNWIs" refer to individuals with net assets of US$1 million or more excluding their primary residences.
- "Multi-millionaires" otherwise known as "ultra high net worth individuals" or "UHNWIs" are individuals with net assets of US$30 million or more excluding their primary residences.
- South African HNWIs include all individuals permanently living in South Africa as well as South African born individuals who have chosen to live elsewhere but still operate businesses in South Africa.
If you have any questions about this release, or would like more information, please contact us.
WealthInsight Press Team
press@wealthinsight.com
+44 (0) 20 3220 0818
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