{"id":261723,"date":"2018-07-30T18:00:17","date_gmt":"2018-07-30T16:00:17","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=261723"},"modified":"2018-07-30T16:31:33","modified_gmt":"2018-07-30T14:31:33","slug":"what-you-need-to-study-to-become-a-billionaire-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/261723\/what-you-need-to-study-to-become-a-billionaire-in-south-africa\/","title":{"rendered":"What you need to study to become a billionaire in South Africa"},"content":{"rendered":"

Global market research group New World Wealth recently released its South African Wealth Report, looking at the trends among the country\u2019s richest people.<\/p>\n

According to the report, the largest portion of South Africa\u2019s high net worth individuals (HNWIs) – who have net assets of $1 million or more – acquired their wealth through the financial and professional services (including banks, law firms, accountants, fund managers and wealth managers).<\/p>\n

In addition more than 28% studied law (LLB\/LLM), while 21% studied a finance or economics degree (MBA\/Bcom\/Business Science\/CFA).<\/p>\n

What they studied<\/strong><\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n
Area of study<\/th>\nType of degree<\/th>\nPercentage of HNWIs<\/th>\n<\/tr>\n
Law<\/td>\nLLB\/LLM<\/td>\n28%<\/td>\n<\/tr>\n
Finance and Economics<\/td>\nMBA\/Bcom\/Business Science\/CFA<\/td>\n21%<\/td>\n<\/tr>\n
Accounting<\/td>\nChartered Accountant<\/td>\n12%<\/td>\n<\/tr>\n
Computers and Science<\/td>\nBachelor of Science<\/td>\n6%<\/td>\n<\/tr>\n
Medicine<\/td>\nDoctorate (or other)<\/td>\n4%<\/td>\n<\/tr>\n
Engineering<\/td>\nBachelor of Engineering<\/td>\n4%<\/td>\n<\/tr>\n
Actuarial<\/td>\nBachelor of Actuarial Science<\/td>\n3%<\/td>\n<\/tr>\n
Other<\/em><\/td>\nOther<\/em><\/td>\n22%<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

Wealthy executives\u00a0<\/strong><\/p>\n

This data appears to have been backed up City Press’ inaugural Wealth Index<\/a><\/strong>, which focused on the pool of directors of companies listed on the five local stock exchanges.<\/p>\n

The index was compiled using company documents, announcements and share registers published between 2006 and 2018, as well as from the disclosed remuneration of JSE-listed companies\u2019 directors for the 2017 financial year \u2013 including bonuses and severance packages.<\/p>\n

However it also focused on what these billionaires studied, and the companies that helped drive their wealth.<\/p>\n

According to the index, four of the top ten billionaires (Christo Wiese, Patrice Motsepe, Koos Bekker, and Michiel Le Roux) all hold a Bachelor of Laws degree (LLB).<\/p>\n

Additionally three of the top 10 (Ivan Glasenberg, Laurie Diepenaar, and Stepehn Saad) hold a Chartered Accounting (CA) degree.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
Rank<\/th>\nName<\/th>\nQualifications<\/th>\nTotal value of investments (R million)<\/th>\n<\/tr>\n
1<\/td>\nIvan Glasenberg<\/td>\nCA (SA), BAcc, MBA<\/td>\n71 796.38<\/td>\n<\/tr>\n
2<\/td>\nChristo Wiese<\/td>\nBA, DCom(hc), LLB<\/td>\n32 782.36<\/td>\n<\/tr>\n
3<\/td>\nPatrice Motsepe<\/td>\nBA (Law), LLB<\/td>\n22 750.3<\/td>\n<\/tr>\n
4<\/td>\nLaurie Dipenaar<\/td>\nCA (SA), MCom<\/td>\n15 781.73<\/td>\n<\/tr>\n
5<\/td>\nIvan Saltzman<\/td>\nN\/A<\/td>\n15 629.93<\/td>\n<\/tr>\n
6<\/td>\nStephen Saad<\/td>\nCA(SA)<\/td>\n14 363.37<\/td>\n<\/tr>\n
7<\/td>\nKoos Bekker<\/td>\nBA (Hons), BA (Law), LLB, MBA<\/td>\n13 558.94<\/td>\n<\/tr>\n
8<\/td>\nJohan Rupert<\/td>\nHonorary Doctorate in Economics and Company Law<\/td>\n13 213.73<\/td>\n<\/tr>\n
9<\/td>\nJohn Whittaker<\/td>\nN\/A<\/td>\n12 894.86<\/td>\n<\/tr>\n
10<\/td>\nMichiel Le Roux<\/td>\nBcom, LLB<\/td>\n11 575.33<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

Read: South Africa\u2019s top 10 richest business executives<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Four of South Africa’s wealthiest billionaires all studied the same degree at University.<\/p>\n","protected":false},"author":10,"featured_media":102723,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26],"class_list":["post-261723","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\/261723","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=261723"}],"version-history":[{"count":11,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/261723\/revisions"}],"predecessor-version":[{"id":262007,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/261723\/revisions\/262007"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/102723"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=261723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=261723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=261723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}