[Online]. Tap into that. 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. Cyril Ramaphosa is one of the leading Black South African millionaires in 2023. And according to several independent sources, that number is set to rise significantly over the next decade. Solid Ground: How I Built a 7-Figure Company at 22 with Zero Capital. But even before he became Mr. He also owns other properties and a fleet of luxury vehicles. His company provides health insurance for at least 200,000 companies and about two million people. There are thousands of South African millionaires in 2023. After a series of acquisitions and mergers, he formed FirstRand Bank, one of the leading financial institutions in South Africa. Its up by almost 7000 compared to last year and has more than quadrupled since 2007. One way is to know what's possible and how to do it. Briefly.co.za recently published a list of the cheapest cars in South Africa in 2023. The groups reach across the continent is impressive. If you are an admin, please authenticate by logging in again. Roughly 30% of the entire Black population was below the age of 20 and 11% were 65 or older. Who is the richest person in Walvis Bay? Let's take a closer look at some of the statistics about millionaires by country and background. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. According to the research there are currently around 17,300 South African millionaires from previously disadvantaged groups, which equates to 45% of South Africas total millionaire population. Take Patrice Motsepe, a South African mining magnate worth $2.2 billion who was the first black African to join the Forbes billionaires list over a decade ago. He has a personal car collection and multiple properties in Cape Town and Johannesburg. Part of my drive and motivation to make money was my family's health history. Governement funds were excluded. Unsurprisingly, the continents largest economy, South Africa, dominates the list with a total of 48,800 millionaires. According to estimates, in the middle of 2021 there were 56 million people worldwide whose assets exceeded one million dollars, of whom nearly 40% lived in the United States. Overall, the report reveals that Black households have one-eighth the wealth of the median White household. Please help update this article to reflect recent events or newly available information. He is yet to disclose the luxury models he owns. An estimated 2% of black households or 340,000 families have a net worth of more than $1 million. The U.S. Black population is young and growing. After years of making a good salary but living paycheck to paycheck with minimal savings, it was obvious that I was missing something. Exclusive shopping centers (examples: Sandton City, Gateway, Montecasino, V&A, Hyde Park and Cavendish). The businessman, investor, and banker is a multi-millionaire who lives a quiet life. Building wealth doesn't have to be complicated. New World Wealth defines a millionaire as someone with net assets of US$1m or more, excluding their primary residences. She is a renowned media and television personality, actress, artist, and entrepreneur. Multimillionaires are individuals with wealth of 10 million U.S. dollars and more. A paid subscription is required for full access. READ ALSO: Top 20 cheapest cars in South Africa: most affordable cars in 2023. Its Pep stores sell 55 percent of all school wear in South Africa, and distribute fashion merchandise to over 2200 stores including outlets in other African markets like Angola, Malawi, Mozambique, Uganda and Zambia. She has also invested in real estate and runs 2k Business Centres in Sandton. How many multi-millionaires live in South Africa? Many people dream of becoming wealthy. When you break down the numbers, the inequities are even more depressing. By using this site you agree with our privacy and cookie policy. Today the retail chain counts 700 stores, 80 of which opened in the 2018 financial year. As a Premium user you get access to background information and details about the release of this statistic. Creating a newsletter list emailing those people on a regular basis. out of the 607 Americans featured on the list, just four were black. Through budgeting, debt elimination, saving, and investing, I became a self-made millionaire in my 30s. Terms apply to offers listed on this page. You are born with innate, natural talent. My parents died at a very young age, and unlike many, I did not inherit anything. As a result, I developed a fear-based relationship with money. ALSO READ: Learn to earn: Which SA universities have produced the most millionaires? Mo Ibrahim According to the Sunday Times Rich List, Sudanese-born Mo Ibrahim is the richest Black man in Britain. One of the most revolutionary things you can do is gain financial freedom. North Africa also features strongly in the rankings, with Egypt, Libya, Tunisia, Morocco and Algeria all in the top 10. It took me a while to build up an audience of 1,000 people on my mailing list. He founded Rand Consolidated Investing, which became FirstRand Bank after several mergers and acquisitions. Once I had those people, that was enough to start to see some momentum. . A lot of [billionaires] have their roots far back in history; not many are contemporary success stories, she adds. The brand represents her persona and style. Man tries to steal the top part of a streetlight, Weather warning: Cut-off low to affect the Western Cape TODAY, Dricus du Plessis batters Derek Brunson to crack UFC top five, Laaaaddduummaa soccer goals: Cape Town Citys Mdu Mdantsane [watch], African Proverb of the day: 05 March 2023. A car has become a necessity rather than a luxury in contemporary South Africa. Access to this and all other statistics on 80,000 topics from, Show sources information VOAs Arzouma Kompaore gives us a closer look at these African immigrants who are transforming their lives in America. Get in touch with us now. There are teachers with more wealth than doctors and lawyers. You just have to do the basics, in the right way, consistently. Johannesburg also has 16,000 High Net Worth Individuals or HNWIs living there. From the tax payer pool, the biggest chunk of tax payers (over 800 000) come from the income bracket earning between R250 000 R350000. [1] 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. Chart. Dangote Group founder Aliko Dangote has topped the 2018 list. As soon as this statistic is updated, you will immediately be notified via e-mail. The importance of a network can't be missed on the road to millions. Posts that attempt to bypass word filters will be deleted. Most people who pay tax earn less than R350000 a year. The staggeringly low number of American billionaires that identify as being of African. "Number of high net worth individuals (HNWIs) in Africa as of 2021, by country." Gentrification doesn't have to force minority residents out of their homes. But were particularly interested in the people who are earning the big bucks. Yes, Patrice Motsepe is a black billionaire from South Africa. Black billionaires are individuals who are of predominantly African ancestry with a net worth of at least US$1 billion . Eyesizwe Coal thrived and earned him financial success. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. 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. So read on for advice on how to build wealth from three Black millionaires who didn't start out that way. The country has a favourable business environment and a relatively stable economy. In recent decades, the median net worth for white households has "far exceeded" that for Black households, according to the Brookings Institution, and the gap is only growing. The list has been published since 2015. You need a Statista Account for unlimited access. The R5 million earner category is the only big-earner category that has seen a decline. One business opportunity that is often overlooked even by fashion industry insiders is the apparel after-care sector. Still, the luxury sector in Africa generated an estimated $6.1 billion in revenue in 2018, with South Africa, Kenya and Nigeria as the top three contributors, according to the most recent Africa Wealth Report by Johannesburg-based New World Wealth and Mauritius-based AfrAsia Bank. The report shows that the number of HNWIs in South Africa now stands at 31,852 people in 2021 - an increase of 14% compared to 2020 (28,043). Business. It truly is not about how much money you make, but what you do with your money. 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). From Political Intrigue to Textile Moguls. She is a renowned media and television personality, actress, artist, and entrepreneur. Register in seconds and access exclusive features. A boom in African millionaires doesnt suggest that wealth is being distributed more fairly globally either. Here's a list of the richest black billionaires in the country. I started to budget. Henley & Partners. April 22, 2022. Something tells us they'll make it through. He is among the few known South African forex millionaires. 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. Practical tips for doing that are: Doing an audit of your skills and talents. Currently, you are using a shared account. The list has been published since 2015. His advanced age has made him step aside from the business. Over a third of the U.S. Black population (35%) was 22 years or younger in 2019. Black Hispanic. He is the founder of Mvelaphanda Group, a company with interests in mining, financial services, real estate, and healthcare. Some of the wealthiest people in the country are known for their flashy lifestyles. Africa's wealthiest people shed a combined $3.1 billion in the past 12 months, following a global decline for markets in 2022. Others were born into wealthy families and have invested in industries that pay well. Their responses, below in their own words, have been lightly edited and condensed. According to SARS, there are 48 266 millionaires in South Africa. The thing that probably had the biggest impact was community. I was actually left with debt from my parents, which I also paid off over time. The cheapest vehicles in the country offer comfort and convenience without emptying your bank account. Source of wealth: Forex trading. There are several former millionaires who went broke in South Africa, including Prokid, Mandoza, Baby Jake Matlala, Brown Dash, and the late Brenda Fassie. Despite the continents many well-documented challenges for starting a business, the most recent Africa Wealth Report shows that the total private wealth held in Africa is expected to rise by 35 percent over the next 10 years, reaching $3 trillion by 2028. 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 living there. Man tries to steal the top part of a streetlight. MaMkhize is a socialite, businesswoman, philanthropist, and television personality born and raised in Umbumbulu, KwaZulu-Natal. "Many African millionaires have also bought second residences in South Africa, which they use for business and holiday. The country had 39,300 high net worth individuals (HNWIs), corresponding . The actress' assets include luxury cars. In, Henley & Partners. Here is how many. "Number of High Net worth Individuals (Hnwis) in Africa as of 2021, by Country. They come from all over the world, Europe, Asia, Latin America and Africa. Access your favorite topics in a personalized feed while you're on the go. You can't leave your future in the hands of others. The publisher's permission is required to reproduce the contents in any form. He has a palatial property in Johannesburg. The Sunday Times puts his net worth at 859 million ($1.1 million). statistic alerts) please log in with your personal account. 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. Copyright 2022 Maritz Publishing. The United States has the greatest number of millionaires 18.6 million, or 40% of the world total, according to the 2019 Global Wealth Report by Credit . Learn more about how Statista can support your business. I had more money than I realized; I felt like I got an instant raise once I started budgeting. His family owns the Isthebe Group of Companies with interests in oil, gold, cigarette, diamond, airline, and retail. The venture capitalist's car collection features a BMW X6M, Porsche Boxter, Porsche Cayenne GTS, Aston Martin, and BMW M4. North Africa also features strongly in the rankings, with Egypt, Libya, Tunisia, Morocco and Algeria . Secure ownership rights, which encourages people to invest in property and businesses in the country. The code has been copied to your clipboard. Now, for ordinary folk, those sums might make your eyes water, but its nothing compared to the countrys billionaires. The biggest chunk of those millionaires are in the R1 million -R2 million range. Answer these 2 simple questions & WIN R1000 in cash! Mosima Gabriel "Tokyo" Sexwale is ranked among the top 10 millionaires in South Africa in 2023. The African fashion ecosystem favours business people [who already have] money [so they often get] the main [brand] franchises and dabble in fashion. NWW defines millionaires or high net worth individuals (HNWIs) as those people with net assets of US$1 million (R14.5 million) or more. Are you interested in testing our business solutions? He is the founder and chairman of African Rainbow Minerals, and he became attained billionaire status in 2008. To use individual functions (e.g., mark statistics as favourites, set Accessed March 05, 2023. https://www.statista.com/statistics/1242532/number-of-millionaires-and-billionaires-in-africa/, Henley & Partners. According to the 2019 State of Women-Owned Businesses Report,. This includes Sandton. Dollar . In a nutshell, blacks in the top 1% have over 70 times more wealth than the average black family. Around US$306 billion of this is held by HNWIs. Address: Riverbank House, 1 Putney Bridge Approach, London, SW6 4TJ. Statista. The United States has the greatest number of millionaires 18.6 million, or 40% of the world total, according to the 2019 Global Wealth Report by Credit Suisse but that doesn't mean millionaires are the majority of this country's population. About 14% of the U.S. population is Black or African American. This number has risen sharply, from 6,200 in 2007, NWW reported. The biggest chunk of those millionaires are in the R1 million -R2 million range. Still, I think it's important to highlight the Black people who have found success in America over the years. Our experts choose the best products and services to help make smart decisions with your money (here's how). Profit from the additional features of your individual account. He is also the chief executive officer of Seriti. to incorporate the statistic into your presentation at any time. The gap is even wider when we look at Black and white Americans. As soon as this statistic is updated, you will immediately be notified via e-mail. Because of this, my company grew along with my network. South Africa is the wealthiest country in Africa with almost twice as many millionaires as any other African country, NWW stats show. In spite of the continents well-documented challenges and emerging market status, the luxury sector is already paying dividends for some most notably the European brands sold there but also for an elite group of local distributors and retailers. ", Henley & Partners, Number of high net worth individuals (HNWIs) in Africa as of 2021, by country Statista, https://www.statista.com/statistics/1182842/number-of-high-net-worth-individuals-in-africa-by-country/ (last visited March 05, 2023), Number of high net worth individuals (HNWIs) in Africa as of 2021, by country [Graph], Henley & Partners, April 22, 2022. There are many self-made South African millionaires in 2023. Attacks on BusinessTech, its journalists or other users will result in a ban. In fact, about 80% of US millionaires worked for their money, with only 20% of millionaires inheriting their fortunes. anyone that was restricted from voting prior to 1994). Khanyisile Mbau, alias Khanyi Mbau, is one of the self-made millionaires in South Africa. "Number of Millionaires and Billionaires in Africa as 2021, by Wealth Tier. Many people recognise Vusi Thembekwayo as a venture capitalist, best-selling author, elite coach, mentor, and keynote speaker. How much of a Momentum Proteas Womens cricket fan are you? Richest Black Billionaires in the World 2022 1. Please create an employee account to be able to mark statistics as favorites. Note that total wealth refers to the private wealth held by all the individuals living in each area. Centimillionaires are individuals with wealth of 100 million U.S. dollars and more. UK-based New World Wealth recently released a report that ranks African countries according to their number of millionaires. It noted that previously disadvantaged groups include Black Africans, Coloreds, Indians and Chinese Asians (i.e. Published by Jaco Maritz on 19 August 2013. Case in point: As I reported this story, some Black millionaires declined to talk to me on the record. Are you interested in testing our business solutions? The median age of Black people in 2019 was 32, six years younger than the U.S. population's median age of 38. The richest man in South Africa is Johann Rupert. Mthetheleli Ngumbela's net worth remains undisclosed in the public domain. This equates to 31% of the country's total HNWI. Read more , according to the 2019 Global Wealth Report by Credit Suisse. There are 3,300 US$-millionaires in Namibia, 1,400 of which live in the capital Windhoek. [2] Individuals who are from Africa, but don't reside in the continent (such as Elon Musk and Mo Ibrahim) are omitted by Forbes from the list. As of 2013, about 76 percent of U.S. millionaires were White/Caucasian. Jacob Gedleyihlekisa Zuma is the former president of South Africa and a successful businessman. Out of the 2,755 billionaires in the world, only 15 are black. Top of the list was Nicky Oppenheimer with an estimated net worth of R95.2 billion. 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). Khanyisile Mbau, alias Khanyi Mbau, is one of the self-made millionaires in South Africa. statistic alerts) please log in with your personal account. In 1977, he co-founded Rand Consolidated Investing. Experts say that luxury is a challenging sector for Africans to build a fortune. In fact, the report notes that the level of wealth inequality "is high, both within countries and for the world as a whole.". So while we know wealth can be passed down generationally, if that's not your story, you still have a shot at financial success. 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 the founder of Shanduka Group, an investment firm with interests in multiple industries. A paid subscription is required for full access. Address: Regus Business Centre 1st Floor, Block B, North Park, Black River Park, 2 Fir Street, Observatory, Cape Town, 7925, South Africa . According to the source, wealth refers to the net assets of a person and includes all their assets (property, cash, equities, business interests) less any liabilities. Check your inbox to be the first to know the hottest news. The business mogul is notoriously quiet about his private life, and details of his assets are scarce online. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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. Mary Ellen Pleasant (1815-1904) was the most powerful Black woman operating in San Francisco in the heat of California's Gold Rush. People jump to the "advanced" because they think it will fast-track them. You can't wait for the barriers to be dismantled. ": Mzansi peeps react to video of lady painting fridge black, UN development chief sounds alarm over debt distress, Texas: Wind and solar stake claim to land of oil, Man shares interior and exterior photos of creative Wendy house design, netizens impressed, Top 15 biggest malls in South Africa you should visit in 2023, Top 25 highly paid careers in demand in South Africa in 2023: Most wanted jobs, Top 10 best Android dual sim phones in South Africa 2022, Popular Nkosi clan names and their meanings: List of celebrities with these names, List of Sepedi names for boys and girls (and their meanings), 10 highest-paid South African actors 2022 and their net worth, The ugliest NBA players as voted by you? In July 2015, data from Stats SA put South Africas population at just over 54 million. Discover the top millionaires in contemporary South Africa and the businesses they run. He is worth $64 million. The top 5% of African Americans have 20 times more wealth. She may have been born a slave, but by the 1820s, she was. Learn to earn: Which SA universities have produced the most millionaires? If youre interested in crunching the numbers yourself, you can grab the data over here. He recently launched a tequila beverage called Billiato and signed a Root of Fame sneaker deal with Drip Footwear. From there, I went to build cash reserves of six months of living expenses. However, Black females typically report average revenues that are less than their White, Latina, and Asian American counterparts. Register in seconds and access exclusive features. 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. TheSouthAfrican.com is all about South Africa and the stories that affect South Africans, wherever they are in the world. Unsurprisingly, the continent's largest economy, South Africa, dominates the list with a total of 48,800 millionaires. According to the source, total wealth "refers to the private wealth held by all the individuals living in a country including all their assets (property, cash, equities and business interests) less any liabilities". The first goal I tackled was my debt elimination: I had $25,000 a little over that in debt, and I was able to knock it out in eight months. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. Copyright Blue Sky Publications Ltd. All Rights Reserved. Accessed March 05, 2023. https://www.statista.com/statistics/1182842/number-of-high-net-worth-individuals-in-africa-by-country/, Henley & Partners.