Who is a Millionaire?
A millionaire is somebody with a net worth of at least $1 million. It’s a simple math formula based on your net worth. When what you own (your assets) minus what you owe (your liabilities) equals more than a million dollars, you’re a millionaire.
How Many Dollar Millionaires In South Africa?
The latest African Wealth Report for 2023 shows that South Africa was home to 37,800 US dollar millionaires at the end of 2022, down from 39,300 recorded at the end of 2021 – a loss of 1,500 HNWIs.
How many millionaires have left South Africa?
The 2023 Wealth Migration Report shows that South Africa has 37,800 HNWIs, 98 centi-millionaires, and 5 billionaires. According to the report, South Africa lost 400 HNWIs to other countries in 2022 and is expected to lose another 500 in 2023.1
Which African country has the most dollar millionaires?
South Africa
Despite a challenging past decade, South Africa still has twice as many HNWIs as any other African country and accounts for an impressive 30% of the continent’s centi-millionaires.