SA Wealth Report: Wow, these lawyers are rolling in the stuff
Of the total $649bn of wealth in private hands in SA, some $275bn is owned by just 41,000 people
After reviewing the latest SA Wealth Report from AfrAsia Bank and New World Wealth, I feel rather inadequate.
I do not own a yacht, nor a Patek Philippe wristwatch, my home is not in Clifton where properties can cost up to R90,000 a square metre, there is no Irma Stern painting on the wall, and I am not getting around in a Range Rover Vogue. These are all lifestyle features of SA’s ultra wealthy, and sadly I am lacking.
SA, the 34th largest economy measured on GDP, is ranked the 31st wealthiest country with total private wealth of $649bn in 2018. This is $11,500 on a net asset per capita basis, compared to a $27,000 worldwide average. ..