A new report finds that there were 14,700 South African high-net-worth individuals (HNWIs) from previously disadvantaged groups at the end of 2014.<\/p>\n
This equates to 31% of the country\u2019s total HNWI population, according to the 3rd<\/sup> annual wealth report on South Africa, entitled the \u201cSouth Africa 2015 Wealth Report\u201d, published by New World Wealth.<\/p>\n A HNWI is person with wealth of US$1 million or more, whilst a multi-millionaire is an individual with wealth of at least US$10 million.<\/p>\n \u201cWealth\u201d is defined as the net value of assets, which includes financial holdings, business interests and tangible assets. The only item excluded from NWW’s valuation is primary residences.<\/p>\n Out of a total 46,800 HNWIs in SA in 2014, 32,100 are white, representing 69%, while 9,800, are either Indian, Asian or coloured representing 21%, and 4,900, or 10%, are African.<\/p>\n “This is a relatively low percentage considering that these groups make up 90% of the national population,” NWW said.<\/p>\n However, a previous New World Wealth report<\/a> showed that SA had 7,800 millionaires from previously disadvantaged groups in 2013 \u2013 equating to only 16% of South Africa\u2019s total millionaire population.<\/p>\n This means that the number of millionaires from previously disadvantaged groups has also doubled between 2013 – 2014.<\/p>\nHNWI changes 2013 – 2014<\/h3>\n
\n\n
\n Group<\/strong><\/td>\n 2013<\/strong><\/td>\n 2014<\/strong><\/td>\n Change<\/strong><\/td>\n<\/tr>\n \n White<\/td>\n 40 900<\/td>\n 32 100<\/td>\n -21.5%<\/span><\/td>\n<\/tr>\n \n Previously disadvantaged<\/td>\n 7 800<\/td>\n 14 700<\/td>\n 88.5%<\/span><\/td>\n<\/tr>\n \n Total<\/strong><\/td>\n 48 700<\/strong><\/td>\n 46 800<\/strong><\/td>\n -3.9%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n HNWI demographic changes 2007 – 2014<\/h3>\n