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SA lost over 9,000 us-dollar millionaires in 10 years - BRICS Wealth Report

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GUEST – Andrew Amoils, head of research at New World Wealth.



The latest BRICS Wealth Report for 2023 shows that South Africa has lost thousands of millionaires over the last ten years – ranking near the bottom of the top BRICS+ countries assessed. According to the report, there are currently 1.6 million individuals with investable assets of over USD 1 million in the grouping of the world’s leading emerging economies, including 4,716 centi-millionaires or ‘centis’ (with more than USD 100 million in investable assets) and 549 billionaires.



The original BRICS cohort comprising Brazil, Russia, India, China, and South Africa added substantial new financial firepower and geopolitical clout with the inclusion this month of new Middle East and North Africa (MENA) members Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE. The new report reveals that in the last decade, private wealth grew by 92% in China, which is now home to 862,400 millionaires, including 2,352 centi-millionaires and 305 billionaires.
31 Jan 2024 3PM English South Africa Business News · Investing

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