How Many Billionaires Are In South Africa
Who Is A Billionaire?
A person is considered a billionaire if their net worth is at least one billion (1,000,000,000, or one thousand million) units of a certain currency, typically a significant currency like the U.S. dollar, the euro, or the pound sterling. Each year, the American business publication Forbes compiles a list of all known U.S. billionaires and continuously updates it online. In 1916, American oil tycoon John D. Rockefeller became the first person to earn a billion dollars in the United States.
Statistics On Billionaires
There are more than 2,200 American billionaires worldwide as of 2018, and their total fortune has increased from US$7.67 trillion in 2017 to US$9.1 trillion as of 2018. The top eight richest billionaires collectively hold as much wealth as “half the human species,” according to a 2017 Oxfam analysis. Twelve people—each with a net worth of at least $100 billion—have attained the designation of U.S. hectobillionaires as of August 2022. Except for three—Bernard Arnault, Gautam Adani, and Mukesh Ambani—everyone is a citizen of the United States.
The Knight Frank Global Wealth Report (UHNWI)
The 2015 Knight Frank Global Wealth Report (UHNWI) identifies the most ultra-high net worth countries. According to a survey by Knight Frank, South Africa had 616 UHNWIs, or those with a net worth of more than $30 million, in 2014, the most on the continent, surpassing Egypt (276), Nigeria (210) and Kenya (115).
By 2024, this number is projected to increase by about 50%, reaching 903 people. Nigeria is predicted to overtake Egypt in the next ten years, with 399 UHNWIs. With 174 and 8 of these people living there, South Africa also tops other African countries in terms of centa-millionaires (those worth over US$100 million to R1.2 billion) and billionaires.
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How Many Billionaires Are In South Africa?
Seven South African billionaires were recently featured by Forbes on its yearly billionaire list. However, between the publication of the separate studies by Forbes and Knight Frank, Desmond Sacco was removed from the list. UHNWI rated 40 global locations as having the greatest value in a Global Cities survey by Knight Frank. Only two African cities—both in South Africa—made the cut for the survey results. Johannesburg came in at number 28 and Cape Town at number 36.
Particularly, Johannesburg has grown in popularity as a location for prime industrial property, with private Chinese investors purchasing significant portions of the city’s industrial zones. In addition, a well-known Sandton skyscraper and numerous renowned wine vineyards in the Western Cape region were purchased, according to the allegations. According to the survey, the Cape still provides the best value for luxury real estate anywhere in the world, with US$1 million being able to buy up to 204 square meters of opulent property. This is a considerable way ahead of Dubai, which offers 145 square meters for the same price, and ranks as the second greatest value option.
Wealth WorldWide
Examining the super-distribution rich’s across the world. Considering the total number of UHNWIs in the nation, South Africa is placed 36th. With 40,581 residents, the United States is the UHNWI nation with the largest population, followed by Japan (16,703), Germany (11,679 residents), the United Kingdom (10,547 residents), and China (7,905 residents). Over the past ten years, China’s population of affluent people has grown dramatically (386%), propelling it into the top five. By 2024, the nation is anticipated to surpass the U.K. and take the fourth spot in the globe. According to Knight Frank, there are 172,850 UHNWIs in the world (an increase of 3% from 2013), and they are worth a total of US$20.8 trillion, or almost US$1.2 billion per person.
