As soon as this statistic is updated, you will immediately be notified via e-mail. Learn more about how Statista can support your business. Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the authors alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. But in the fashion industry, it is his wife, Precious Moloi-Motsepe, whose name people recognise instantly. 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Once I realized that, I was able to take my money and apply it to my goals. It includes all their assets (property, cash, equities and business interests) less any liabilities. Sandile Shezi is recognised as the youngest millionaire in the country. Since assuming government positions, he stepped back from his business pursuits to avoid conflict of interest. This is how many millionaires live in South Africa right now Hlubi Nkosi's net worth is not known in the public domain. Due to his position, President Ramaphosa is chauffeured in a presidential motorcade. as well as other partner offers and accept our, Rachel Rodgers/@thebrosfresh/April Stewart, Leslie Quander Wooldridge is a writer, editor, consultant, and coach whose articles have reached tens of millions of readers. Shoprite, Wiese was executive director of Pepkor, a discount clothing chain his parents helped found. Mosima Gabriel "Tokyo" Sexwale is ranked among the top 10 millionaires in South Africa in 2023. Get full access to all features within our Business Solutions. The company started out as Mansour and Sons Cotton in 1952 and quickly became the second-largest cotton exporter in the world. Khanyisile Mbau, alias Khanyi Mbau, is one of the self-made millionaires in South Africa. You don't have to be a real estate investor. out of the 607 Americans featured on the list, just four were black. Mary Ellen Pleasant (1815-1904) was the most powerful Black woman operating in San Francisco in the heat of California's Gold Rush. The 2019 Africa Wealth report estimates that there are 140,000 HNWIs (US dollar millionaires) in Africa. Second biggest in the millionaires category is the R2 million R5 million earners almost 29 000 of them and up by just over 200 year-on-year. Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Discover the top millionaires in contemporary South Africa and the businesses they run. Although the bulk of Femi Otedolas fortune (worth $1.8 billion in 2016 but reportedly on the decline since) comes from his oil ventures, Otedolas wife, Nana Otedola, founded Garment Care Limited, a popular dry cleaning company in Nigeria. Once I had those people, that was enough to start to see some momentum. Top class private schools for their children. After a series of acquisitions and mergers, he formed FirstRand Bank, one of the leading financial institutions in South Africa. After years of making a good salary but living paycheck to paycheck with minimal savings, it was obvious that I was missing something. Currently, you are using a shared account. Dollar . Black Hispanic. A boom in African millionaires doesnt suggest that wealth is being distributed more fairly globally either. Although it was Raymond Ackermans grocery empire Pick n Pay that earned him a spot on the Forbes list of 50 Richest Africans back in 2015 with a reported net worth of $500 million, the Ackerman name is still synonymous with clothing, selling everything from denim to dresses for as low as $10. Address: Riverbank House, 1 Putney Bridge Approach, London, SW6 4TJ. The State of America's Wealthy Black People - Black Enterprise Your network (a great one) will lead you to other opportunities, which will allow you to diversify your portfolio. According to SARS, there are 48 266 millionaires in South Africa. For me, my network has led to other opportunities in investing, and because of the money I made, I've been able to grow my real estate portfolio to four properties along with investing in a few other real estate transactions. I wasn't going to become a millionaire as a lawyer because I just didn't love it enough. There is very little religious violence (when compared to countries like Nigeria). You need a Statista Account for unlimited access. "Number of millionaires and billionaires in Africa as 2021, by wealth tier." (Credit Suisse Research Institute) Around 2% of black households have a net worth of over $1 million. According to New World Wealth, the African city with the greatest number of millionaires is South Africas economic hub Johannesburg with 23,400 millionaires, followed by the Egyptian capital Cairo with 12,300 and Lagos in Nigeria with 9,800. I wanted to have money to be able to solve health problems because I had seen members of my family die young from things that are curable. Despite the continents strong economic growth over the past decade, the majority of Africans still struggle to make ends meet. Revealed: Here's how many SA millionaires - The South African Black vs white millionaires in South Africa - BusinessTech Who is the richest person in Walvis Bay? According to the 2021 Forbes ranking of the world's billionaires, Nigerian business magnate Aliko Dangote had a net worth of $11.5 billion and was the world's richest black man. Consultancies such as McKinsey & Company advise companies to make their investment decisions on a city level as opposed to on a country level. Like their wealthier counterparts, fashion has played a role in the fortunes of many and some started from humble beginnings. How many millionaires are there in Namibia? The Richest Africans is an annual ranking of the richest African people, compiled and published by the American business magazine Forbes. The brand represents her persona and style. The business mogul enjoys cars and likes the thrill of speed. Address: Regus Business Centre 1st Floor, Block B, North Park, Black River Park, 2 Fir Street, Observatory, Cape Town, 7925, South Africa Postal: Blue Sky Publications (Pty) Ltd T/A TheSouthAfrican, PO Box 44354, Claremont, 7735, South Africa, United Kingdom Blue Sky Publications Ltd Company Registration Number: 04683692. I understand this, as current times are sensitive and people may not want to appear to brag. As a Premium user you get access to background information and details about the release of this statistic. Briefly.co.za recently published a list of the cheapest cars in South Africa in 2023. Third place goes to Durban and Umhlanga with 3,700 high-net-worth individuals, 30 multi-millionaires and 11 centi-millionaires living on the south coast. But were particularly interested in the people who are earning the big bucks. New data published by advisory firm, New World Wealth, shows how the racial composition of South African millionaires has changed over the past eight years. Millionaire Statistics by Age The world's 100 richest individuals earned their first $1 million at age 37, on average. So while we know wealth can be passed down generationally, if that's not your story, you still have a shot at financial success. Case in point: As I reported this story, some Black millionaires declined to talk to me on the record. Koos Bekker, who is worth $2.2 billion, made all his money online from ventures like internet group Naspers. Centimillionaires are individuals with wealth of 100 million U.S. dollars and more. Rich white millionaires are fleeing South Africa, Most whites in SA still earn 6 times more than blacks, Black vs white millionaires in South Africa. All Rights Reserved. In some cases, we receive a commission from our partners; however, our opinions are our own. One, having a squad of ambitious friends who were also trying to get to seven figures. Wealth inequality in the United States. Now that community has 65,000 people. Facts About the U.S. Black Population | Pew Research Center Only 2% of Black Families Have a Net Worth Above $1 - Black Enterprise Indeed, from Ato Ketema Kebedes riches built on acrylic yarn in Ethiopia to Yerim Sows Senegalese shopping mall that is home to brands like Adidas andHugo Boss, fashion has been an important way for more moderately wealthy Africans to find success outside the billionaires league. She also owned Royal Eagles FC, a South African football club, but has since sold itS. Today the billionaires reach goes as far as Takealot, one of the countrys largest e-commerce marketplaces selling clothing and other merchandise. You can't leave your future in the hands of others. Show publisher information I just kept investing more and more each year. "Number of high net worth individuals (HNWIs) in Africa as of 2021, by country." Billionaires are individuals with wealth of one billion U.S. dollars and more. List of countries by the number of billionaires, "Africa's Billionaires: Top 25 Richest People In Africa, 2018", "African Billionaire Fortunes Rise On Forbes 2018 List Of Continent's Richest", "The Forbes Billionaires' List: Africa's Richest People 2021", "The Forbes Billionaires List: Africa's Billionaires 2019", List of presidents of the United States by net worth, https://en.wikipedia.org/w/index.php?title=List_of_Africans_by_net_worth&oldid=1138605405, Short description is different from Wikidata, All Wikipedia articles written in American English, Wikipedia articles in need of updating from July 2019, All Wikipedia articles in need of updating, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 10 February 2023, at 15:39. Multimillionaires are individuals with wealth of 10 million U.S. dollars and more. To use individual functions (e.g., mark statistics as favourites, set She is also the founder of Zikhulise Auto Recoveries, Zikhulise Maintenance and Transport, and Inyanga Trading. A large free media which helps disseminate reliable information to investors. South Africas fashion billionaires are not limited to octogenarians and brick-and-mortar scions. The latest African Wealth Report for 2022 that was published this week revealed that Johannesburg is in the lead with a whopping 840 multi-millionaires, 34 centi-millionaires, and two billionaires . He is also the chief executive officer of Seriti. The report for 2022 detailed some of the fascinating fiscal trends in South Africa. [Online]. I think [people] really underestimate how impactful it is to be surrounded by people who have similar goals. By clicking Sign up, you agree to receive marketing emails from Insider Born and brought up on the streets of Umlazi in the North of Durban, Sandile Shezi is very interesting to story to tell, not only because . She is a renowned media and television personality, actress, artist, and entrepreneur. There Are Only 7 Black Billionaires in the United States - Business Insider He is the founder of Mvelaphanda Group, a company with interests in mining, financial services, real estate, and healthcare. Although Pepkor is no longer just a standalone endeavour, in the 2018 fiscal year clothing and general merchandise brought in 66 percent of the parent company Pepkor Holdings total revenue. This number has risen sharply, from 6,200 in 2007, NWW reported. anyone that was restricted from voting prior to 1994). But when her fathers successor the new president Joo Loureno took over, he promised to tackle corruption and family monopolies, and Isabel Dos Santoss diamond exploration licenses were reportedly revoked last year. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Patrice Motsepe's net worth is $2.8 billion. The list has been published since 2015. The table below ranks South African areas by total wealth. His apparel line is also called Family Tree. Statista. As of 2023, Nigerian billionaire Aliko Dangote is the richest person in Africa, and the African countries with the most billionaires are Egypt (5), South Africa (6), Nigeria (3), and Morocco (2)[3], As of 2021, Nigerian billionaire Aliko Dangote is the richest person in Africa, and the African countries with the most billionaires are Egypt (5), South Africa (5), Nigeria (3), and Morocco (2). Most of them have invested in various businesses. The importance of a network can't be missed on the road to millions. Available: https://www.statista.com/statistics/1182842/number-of-high-net-worth-individuals-in-africa-by-country/, Number of high net worth individuals (HNWIs) in Africa as of 2021, by country, Available to download in PNG, PDF, XLS format, HNWI population worldwide 2010-2021, by region, Assets of HNWIs worldwide 2010-2021, by region, Number of millionaires in China 2015-2021, Annual growth rate of millionaires in China 2011-2021, Number of super rich people in China 2012-2021, Number of super rich people in Greater China in 2021, by city, Number of HNWI in China 2020, by wealth group, Distribution of super rich individuals in Greater China as of 2021, by nature, Luxury goods market revenue in China 2014-2027, Share of Chinese luxury consumption abroad and in China 2015-2021, Main reasons for purchasing luxury goods in China 2020, by age group, Leading luxury goods categories bought by Chinese luxury shoppers 2021, by age, Most popular alcoholic beverages among Chinese millionaires 2021, Most popular tea types among Chinese millionaires 2021, Most popular collector's items among Chinese high-net-worth individuals 2021, Share of Chinese millionaires who would buy used luxury goods 2021, Preferred leisure activities among Chinese millionaires 2021, China: luxury tourism revenue 2019-2024, by market, Most popular international travel destinations of Chinese millionaires 2019-2021, Most popular domestic travel destinations of Chinese millionaires 2019-2021, Most popular travel themes among Chinese millionaires 2021, Preferred gifts for men by Chinese millionaires 2021, Preferred gifts for women by Chinese millionaires 2021, Major charity donators in China 2021-2022, by donation, Chinese millionaires' leading donation purposes 2011-2021, Origins of leading philanthropists in China 2022, Distribution of investable assets of UHNWIs in the U.S. 2014, Number of billionaires South Korea 2014-2024, Number of high net worth individuals in Japan 2021, by wealth range, Prosperity measurements for regions of the United Kingdom (UK) 2017, Non-financial wealth as a percentage of gross wealth in Asia Pacific 2019, by country, Wealth of adult population in Europe H1 2019, by country, Wealth of adult population in Ireland 2010-2019, Total wealth of the adult population in Japan 2000-2021, Number of millionaires South Korea 2010-2021, Wealth of adult population in Czechia 2010-2019, Wealth of adult population in Switzerland 2010-2019, Foreign direct investment (FDI) from China, Find your information in our database containing over 20,000 reports, total number of millionaires on the continent, individuals with minimum net assets of one million U.S. dollars. North Africa also features strongly in the rankings, with Egypt, Libya, Tunisia, Morocco and Algeria all in the top 10. There are 3,300 US$-millionaires in Namibia, 1,400 of which live in the capital Windhoek. NWW defines millionaires or high net worth individuals (HNWIs) as those people with net assets of US$1 million (R14.5 million) or more. Roughly 30% of the entire Black population was below the age of 20 and 11% were 65 or older. There are teachers with more wealth than doctors and lawyers. But in 1964, Egypts nationalisation of major industries, including cotton, forced the oldest Mansour, Loufty, to flee to Switzerland where he set up a cotton brokerage and instead connected Sudanese cotton traders with international buyers. He also founded Tiso Blackstar Group, a media company. When political connections end, it can often be fast and abrupt leaving once chummy cronies shut out and in the cold. Something tells us they'll make it through. Seriti is a South African mining company co-owned by four anchor shareholders: Masimong Group, Zungu Investments, Thebe Investments, and Community Investment Holdings (CIH). The list above shows the top 15 people who acquired wealth by running successful businesses. The retailer has become so ubiquitous in southern Africa that the firm now boldly uses the slogan, A town is not a town without a Pep. The document isproduced by New World Wealth. ALSO READ: WATCH: What?! My parents died at a very young age, and unlike many, I did not inherit anything. Terms apply to offers listed on this page. He owns multiple properties, cars, and other assets in the country. TheSouthAfrican.com is all about South Africa and the stories that affect South Africans, wherever they are in the world. The American dream is the main reason why, for centuries the United States of America has been the number one destination for generations of immigrants. to incorporate the statistic into your presentation at any time. The report furthermore said that despite the overall decline, there were still a number of South African areas that experienced positive US$ wealth growth over the past decade. East Tennessee has many stories of how African Americans made improvements within its region. Who are the Black billionaires? - ajc