{"id":325817,"date":"2019-06-27T18:00:54","date_gmt":"2019-06-27T16:00:54","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=325817"},"modified":"2019-06-27T16:49:26","modified_gmt":"2019-06-27T14:49:26","slug":"this-is-what-south-african-millionaires-study","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/325817\/this-is-what-south-african-millionaires-study\/","title":{"rendered":"This is what South African millionaires study"},"content":{"rendered":"

New World Wealth has published its South African wealth report for 2019, looking at the trends among the country\u2019s wealthiest people.<\/p>\n

The report found that the country is currently home to 39,200 High Net Worth Individuals (HNWIs) \u2013 defined as individuals who have net assets of $1 million or more.<\/p>\n

The largest portion of the country’s HNWIs acquired their wealth through the financial and professional services (including banks, law firms, accountants, fund managers and wealth managers), closely followed by the property sector.<\/p>\n

These HNWIs typically studied law, with finance and accounting degrees also popular.<\/p>\n

The University of the Witwatersrand is the most popular university among HNWIs (20%), followed closely by the University of Cape Town (19%), and Stellenbosch University (12%).<\/p>\n

Over two-thirds (68%) of these HNWIs have an undergraduate degree, while 27% have a post-graduate qualification, while just 5% have only a matric.<\/p>\n

You can find a complete breakdown of what South Africa’s wealthiest people studied and what industries they work in below.<\/p>\n

Industry breakdown<\/b><\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Industry<\/th>\nPercentage of HNWIs<\/th>\n<\/tr>\n
Financial and professional services (includes banks, law firms, accountants, fund managers and wealth managers)<\/td>\n30%<\/td>\n<\/tr>\n
Real Estate and Construction<\/td>\n16%<\/td>\n<\/tr>\n
Tech and Telecoms (includes software, internet, hardware and telecoms)<\/td>\n9%<\/td>\n<\/tr>\n
Basic materials (includes agriculture and mining.)<\/td>\n8%<\/td>\n<\/tr>\n
Diversified<\/td>\n8%<\/td>\n<\/tr>\n
Healthcare<\/td>\n7%<\/td>\n<\/tr>\n
Retail<\/td>\n5%<\/td>\n<\/tr>\n
FMCG<\/td>\n5%<\/td>\n<\/tr>\n
Media<\/td>\n4%<\/td>\n<\/tr>\n
Manufacturing<\/td>\n3%<\/td>\n<\/tr>\n
Transport & Logistics<\/td>\n3%<\/td>\n<\/tr>\n
Hotels & Leisure<\/td>\n2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\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>\n19%<\/td>\n<\/tr>\n
Accounting<\/td>\nChartered Accountant<\/td>\n10%<\/td>\n<\/tr>\n
Medicine<\/td>\nDoctorate (or other)<\/td>\n7%<\/td>\n<\/tr>\n
Computers and Science<\/td>\nBachelor of Science<\/td>\n5%<\/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>\n24%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

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

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
University<\/th>\nPercentage of HNWIs<\/th>\n<\/tr>\n
University of the Witwatersrand (Wits)<\/td>\n20%<\/td>\n<\/tr>\n
University of Cape Town (UCT)<\/td>\n19%<\/td>\n<\/tr>\n
Stellenbosch University<\/td>\n12%<\/td>\n<\/tr>\n
University of South Africa (UNISA)<\/td>\n10%<\/td>\n<\/tr>\n
Rhodes University<\/td>\n7%<\/td>\n<\/tr>\n
University of Pretoria<\/td>\n6%<\/td>\n<\/tr>\n
University of Johannesburg (including RAU)<\/td>\n4%<\/td>\n<\/tr>\n
US universities<\/td>\n4%<\/td>\n<\/tr>\n
UK universities<\/td>\n3%<\/td>\n<\/tr>\n
Other<\/em><\/td>\n15%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
\n

Read: Luxury homes in South Africa are now selling for a \u2018bargain\u2019<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

New World Wealth has published its South African wealth report for 2019, looking at the trends among the country\u2019s wealthiest people.<\/p>\n","protected":false},"author":10,"featured_media":139371,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26,6440],"class_list":["post-325817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline","tag-new-world-wealth"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/325817","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=325817"}],"version-history":[{"count":12,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/325817\/revisions"}],"predecessor-version":[{"id":325849,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/325817\/revisions\/325849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/139371"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=325817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=325817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=325817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}