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<\/a><\/p>\nNot only has the country lost 2,100 dollar millionaires over the period, the millionaires still in the country also got poorer over the period.<\/p>\n
In 2017, South Africa’s 92,200 millionaires held US$1,353 billion in wealth, averaging US$14.67 million (R208 million) per person. In 2018, millionaire wealth in the country totalled only US$1,238 billion, averaging US$13.74 million per person (R195 million) among the 90,100 millionaires – a loss of US$930,000 (R13 million).<\/p>\n
| Year<\/th>\n | 2017<\/th>\n | 2018<\/th>\n | Change<\/th>\n | %<\/th>\n<\/tr>\n | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HNWIs<\/td>\n | 92 200<\/td>\n | 90 100<\/td>\n | -2 100<\/span><\/strong><\/td>\n| -2.3%<\/td>\n<\/tr>\n | HNWI Wealth<\/td>\n | $1 353.3 billion<\/td>\n | $1 238.4 billion<\/td>\n | -$114.9 billion<\/span><\/strong><\/td>\n | -8.5%<\/td>\n<\/tr>\n | Average<\/td>\n | $14.678 million<\/td>\n | $13.745 million<\/td>\n | -$933 000<\/span><\/strong><\/td>\n | -6.4%<\/td>\n<\/tr>\n | ZAR (1 USD = 14.17)<\/em><\/td>\n | R208.0 million<\/em><\/td>\n | R194.8 million<\/em><\/td>\n | -R13.2 million<\/span><\/strong><\/em><\/td>\n | <\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n | While using different metrics, Capgemini’s data reflects similar findings made by New World Wealth, which noted in a recent report that South Africa had lost as many as 4,400 dollar millionaires in the past year.<\/p>\n New World Wealth also stated that 2018 was a poor year for wealth in the country as total private wealth held by people living in SA, declined 10%.<\/p>\n \n Global millionaires<\/strong><\/p>\n The fortunes of South Africa’s wealthy tracked global trends, with Capgemini noting that after seven consecutive years of growth, global HNWI wealth declined in 2018, primarily driven by a slump in equity-market performance and slowing economies in key regions.<\/p>\n “Amid significant global wealth decline, Asia-Pacific and European-region HNWIs were most affected, given declining markets and decelerating economic growth (especially for Asia-Pacific),” the group said.<\/p>\n Asia-Pacific accounted for half of the US$2-trillion global wealth falloff, while Europe accounted for about one-quarter of the overall decline \u2013 or US$500 billion.<\/p>\n Most of the global HNWI wealth decline can be attributed to the higher wealth segments. Ultra-HNWIs (US$30 million or more) accounted for 75% of the decline, and mid-tier millionaires\u00a0 (US$5 million to US$30 million) made up 20% of the total global decline, Capgemini said.<\/p>\n According to the report, there are just over 18 million HNWIs in the world, 90% of which are in the US$1 million to US$5 million band (16.24 million people). 1.6 million are in the US$5 million to US$30 million band, and 168,000 are in the US$30 million-plus band.<\/p>\n The United States is still home to the most HNWIs, with 5.3 million, followed by Japan (3.15 million), Germany (1.35 million) and China (1.19 million).<\/p>\n Together these nations account for 61.2% of the global HNWI population.<\/p>\n |