{"id":255619,"date":"2018-07-02T09:31:16","date_gmt":"2018-07-02T07:31:16","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=255619"},"modified":"2018-07-02T10:57:22","modified_gmt":"2018-07-02T08:57:22","slug":"how-long-it-would-take-south-africas-billionaires-to-earn-your-annual-salary","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/255619\/how-long-it-would-take-south-africas-billionaires-to-earn-your-annual-salary\/","title":{"rendered":"How long it would take South Africa’s billionaires to earn your annual salary"},"content":{"rendered":"

Four of South Africa’s five billionaires ranked on the latest Forbes rich list saw their wealth increase significantly between 2017 and 2018.<\/p>\n

South Africa’s richest man, Nicky Oppenheimer, saw his wealth increase by $700 million (R9.68 billion), but that wasn’t even the biggest gain on the list.<\/p>\n

It was Richemont founder Johann Rupert, who saw the biggest value jump, adding $900 million (R12.44 billion) to his fortune that year.<\/p>\n

This is how South Africa’s billionaire’s performed in 2017\/18, according to Forbes.<\/p>\n

\n
\n\n\n\n\n\n\n\n
#<\/th>\nBillionaire<\/th>\n2018 Net Worth\u00a0(US$bn)<\/th>\n2017 Net Worth (US$bn)<\/th>\nChange (%)<\/th>\n<\/tr>\n
202<\/td>\nNicky Oppenheimer<\/td>\n7.7<\/td>\n7.0<\/td>\n+10.0%<\/span><\/td>\n<\/tr>\n
228<\/td>\nJohann Rupert<\/td>\n7.0<\/td>\n6.1<\/td>\n+14.8%<\/span><\/td>\n<\/tr>\n
924<\/td>\nKoos Bekker<\/td>\n2.6<\/td>\n2.1<\/td>\n+23.8%<\/span>
\n<\/strong><\/td>\n<\/tr>\n
1020<\/td>\nPatrice Motsepe<\/td>\n2.4<\/td>\n1.8<\/td>\n+33.3%<\/span><\/td>\n<\/tr>\n
1867<\/td>\nStephen Saad<\/td>\n1.2<\/td>\n1.2<\/td>\n=<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Billionaires vs you<\/strong><\/p>\n

To put billionaires’ immense wealth into perspective, RS Components recently worked out how much the wealth of the top five billionaires on the Forbes rich list increased over the past year, and how quickly it would take them to earn the same salary as their national average<\/a><\/strong>.<\/p>\n

For example, Jeff Bezos, the richest man in the world, saw his wealth increase the most last year – by $39.2 billion. Based on the UK\u2019s average salary of \u00a327,600 Bezos would earn the same amount in 30 seconds. With the average US salary of $56,516, it would take Jeff Bezos 46 seconds to earn the same.<\/p>\n

Looking as South Africa’s average salary<\/a><\/strong>\u00a0($17,105) it would take Bezos just under 14 seconds<\/strong> to earn that.<\/p>\n

South Africa’s billionaire gains were not as dramatic, but they still earned a ridiculous amount in such a short time. Richest man, Nicky Oppenheimer, for example, would earn the national average salary in approximately 13 minutes, at R306.63 a second.<\/p>\n

The table below outlines how long it would take our billionaires to earn the average local salary (R238,300).<\/p>\n

\n
\n\n\n\n\n\n\n\n
#<\/th>\nBillionaire<\/th>\n2018 Net Worth<\/th>\n2017\/18 Gain<\/th>\nPer second<\/th>\nTime to get average salary<\/th>\n<\/tr>\n
1<\/td>\nNicky Oppenheimer<\/td>\nR106.3 billion<\/td>\nR9.7 billion<\/td>\nR306.63<\/td>\n~13 minutes<\/td>\n<\/tr>\n
2<\/td>\nJohann Rupert<\/td>\nR96.6 billion<\/td>\nR12.4 billion<\/td>\nR394.15<\/td>\n~10 minutes<\/td>\n<\/tr>\n
3<\/td>\nKoos Bekker<\/td>\nR35.9 billion<\/td>\nR6.9 billion<\/td>\nR218.80<\/td>\n~18 minutes<\/td>\n<\/tr>\n
4<\/td>\nPatrice Motsepe<\/td>\nR33.1 billion<\/td>\nR8.3 billion<\/td>\nR262.56<\/td>\n~15 minutes<\/td>\n<\/tr>\n
<\/td>\nAverage<\/strong><\/td>\nR68.0 billion<\/strong><\/td>\nR9.3 billion<\/strong><\/td>\nR295.54<\/strong><\/td>\n~14 minutes<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Even looking at some of the best-paying jobs in South Africa, it would take the country’s billionaires no time at all to earn the same levels.<\/p>\n

Jobs portal CareerJunction has published its annual salary survey in May<\/a><\/strong>, showing how South Africans across 10 wide sectors get paid. Below, we look at 10 of the highest paying jobs in the survey, and how long the average billionaire would take to earn the same.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
Job<\/th>\nAverage annual salary<\/th>\nTime for billionaire to earn the same<\/th>\n<\/tr>\n
Environmental engineer<\/td>\nR911 292<\/td>\n~52 minutes<\/td>\n<\/tr>\n
Civil engineer<\/td>\nR897 348<\/td>\n~51 minutes<\/td>\n<\/tr>\n
Structural engineer<\/td>\nR856 524<\/td>\n~48 minutes<\/td>\n<\/tr>\n
IT management<\/td>\nR819 372<\/td>\n~46 minutes<\/td>\n<\/tr>\n
Financial management<\/td>\nR811 836<\/td>\n~46 minutes<\/td>\n<\/tr>\n
Plant manager<\/td>\nR746 256<\/td>\n~42 minutes<\/td>\n<\/tr>\n
Chartered accountant<\/td>\nR729 540<\/td>\n~41 minutes<\/td>\n<\/tr>\n
Quantity surveying<\/td>\nR720 454<\/td>\n~41 minutes<\/td>\n<\/tr>\n
Electrical engineer<\/td>\nR717 504<\/td>\n~40 minutes<\/td>\n<\/tr>\n
Technical and business architect<\/td>\nR707 772<\/td>\n~40 minutes<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

Read:\u00a0South Africa\u2019s average salary versus the world<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Four of South Africa’s five billionaires ranked on the latest Forbes rich list saw their wealth increase significantly between 2017 and 2018 – this is how much money they made every second.<\/p>\n","protected":false},"author":10,"featured_media":144519,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26],"class_list":["post-255619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/255619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=255619"}],"version-history":[{"count":11,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/255619\/revisions"}],"predecessor-version":[{"id":255729,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/255619\/revisions\/255729"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/144519"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=255619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=255619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=255619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}