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South Africa’s Rich: Earning Faster Than in Other Places

NEWS 24   in 
August 11, 2014

Johannesburg – South Africa’s rich are getting richer - and they’re doing it faster than their counterparts anywhere else in the world, City Press reports.

Research by analysts New World Wealth has revealed that we’re now home to 49 000 dollar millionaires – those who have net assets of more than $1m (R10.7m) – and 2 060 are multimillionaires – people who have more than $10m in net assets.

New World Wealth reveals that the figures have shot up in the past decade – the number of South African millionaires grew by 106% and we have 120% more multimillionaires than we did in 2004.

These figures are compared with global figures of a 58% growth in millionaires and a 71% growth in multimillionaires in the same decade.

So what are our multimillionaires hiding in their safes, garages or proudly hanging on their walls?

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