New research finds that there were 581 Ultra High Net Worth Individuals (UHNWIs) in South Africa in 2013, with an average per capita wealth of US$124.7 million (R1.3 billion).
UHNWIs are defined as individuals having a net worth of at least US$30 million, after accounting for shares in public and private companies, residential and passion investments such as art, planes and real estate.
According to market research firm, Research and Markets, of this total, there were eight billionaires in South Africa, 164 centimillionaires (exceeding $100 million) and 409 affluent millionaires.
The report noted that UHNWIs accounted for 1.2% of the total South African HNWI population in 2013, which was greater than the global average of 0.7%.
The number of South African UHNWIs increased by 50.5% during the review period, from 386 in 2009 to 581 in 2013.
The number of centimillionaires and affluent millionaires increased by 47.7% and 50.9% respectively.
According to Research and Markets, the number of UHNWIs is predicted to increase by 16.1%, reaching 700 in 2018. This will include 10 billionaires, 201 centimillionaires and 489 affluent millionaires.
In March, Forbes released its annual listing of the world’s billionaires, which included eight South Africans.
Richest people in South Africa
|173||Johan Rupert & family||$7.6 billion||R82.35 billion|
|205||Nicky Oppenheimer & family||$6.7 billion||R72.60 billion|
|506||Christo Wiese||$3.2 billion||R34.67 billion|
|642||Patrice Motsepe||$2.7 billion||R29.26 billion|
|1284||Koos Bekker||$1.3 billion||R14.09 billion|
|1284||Allan Gray||$1.3 billion||R14.09 billion|
|1284||Stephen Saad||$1.3 billion||R14.09 billion|
|1284||Desmond Sacco||$1.3 billion||R14.09 billion|
A Wealth-X and UBS World Ultra Wealth Report pointed to 199,235 UHNW individuals in the world, with a total combined net worth of $27.77 trillion.
The average wealth of an UHNW individual had risen to $139 million, it said.
The report pointed to 2,170 billionaires in the world, with a combined net worth of $6.516 billion.