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<\/p>\nNew World Wealth, in partnership with MasterCard, has released new data on South Africa’s richest population group, showing exactly how the country’s wealthiest have made their money.<\/p>\n
According to the report, at the end of 2015 there were 38,500 high net worth individuals (HNWIs) with a net worth more than US$1 million in the country – down 18% from 2014.<\/p>\n
Of these individuals, 2,030 are considered multi-millionaires – a net worth higher than US$10 million.<\/p>\n
Multi-millionaires make up 5.3% of the total HNWI population, and are on average – 56 years old – in line with the global average. However, as many as 35% of South Africa’s multi-millionaires are over 60, the report said.<\/p>\n
When it comes to making money, South Africa’s richest people earned their wealth through real estate and construction – accounting for 20% of all wealth sources in the country.<\/p>\n
Other important industries include financial services, basic materials and diversified interests – though the report notes that telecoms, insurance and healthcare have shown strong growth as primary sources of wealth.<\/p>\n
These are the industries which have made the most multi-millionaires in South Africa:<\/p>\n
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