", Henley & Partners, Number of millionaires and billionaires in Africa as 2021, by wealth tier Statista, https://www.statista.com/statistics/1242532/number-of-millionaires-and-billionaires-in-africa/ (last visited March 05, 2023), Number of millionaires and billionaires in Africa as 2021, by wealth tier [Graph], Henley & Partners, April 22, 2022. 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. Her fleet features a Mercedes-Benz G-Class, Lamborghini Urus, Lamborghini Huracan, Porsche Carrera GTS, and Mercedes-Benz AMG. 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. [1] In 2018, there was a record of 23 African billionaires on the list. anyone that was restricted from voting prior to 1994). ": 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? South African company registration: 1986/016729/23. Most people recognise her from the Mzansi Magic reality series Kwa Mam'Mkhize. As a Premium user you get access to background information and details about the release of this statistic. It said that South Africa has strong fundamentals for wealth growth including: The report said that a large number of millionaires from other African countries have moved to South Africa recently we estimate that over 1,500 African millionaires have moved to South Africa since 2007. He has invested heavily in multiple industries. A lot of [billionaires] have their roots far back in history; not many are contemporary success stories, she adds. The rapper's fleet of luxury vehicles includes a McLaren GT, Bentley Continental GT V8, and a Rolls Royce. After a series of acquisitions and mergers, he formed FirstRand Bank, one of the leading financial institutions in South Africa. out of the 607 Americans featured on the list, just four were black. Once I realized that, I was able to take my money and apply it to my goals. Wealth requires consistency. It's true, and it's very likely you'll make some less-than-desirable investments along the way, but you have to keep going. . When you break down the numbers, the inequities are even more depressing. There are several former millionaires who went broke in South Africa, including Prokid, Mandoza, Baby Jake Matlala, Brown Dash, and the late Brenda Fassie. Secure ownership rights, which encourages people to invest in property and businesses in the country. Henley & Partners. Then you can access your favorite statistics via the star in the header. There are over 39 thousand South African millionaires in 2023. Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available. Get full access to all features within our Business Solutions. Henley & Partners. Your network (a great one) will lead you to other opportunities, which will allow you to diversify your portfolio. The biggest chunk of those millionaires are in the R1 million -R2 million range. To use individual functions (e.g., mark statistics as favourites, set South Africa is the wealthiest country in Africa with almost twice as many millionaires as any other African country, NWW stats show. The thing that probably had the biggest impact was community. Hlubi Nkosi's net worth is not known in the public domain. ALSO READ: WATCH: What?! For 20 years now, this odyssey , KITHhas announced the expansion of its Miami locations with the opening of the brands second Miami location,Major Food Groups Sadelles , News collects all the stories you want to read. Copyright 2022 Maritz Publishing. Earlier this year, Entrepreneur Magazine identified the richest people in the country all with a net worth of over R4.7 billion. Please do not hesitate to contact me. Giorgio Armani opens pop-up at Just One Eye in Los Angeles, Louis Vuitton launches new Tambour Street Diver watch with chronograph function, KITH opens new flagship store in Miami with new concept. Becoming wealthy is attainable for anyone. Accessed March 05, 2023. https://www.statista.com/statistics/1182842/number-of-high-net-worth-individuals-in-africa-by-country/, Henley & Partners. Chart. Statista. Part of my drive and motivation to make money was my family's health history. Patrice Motsepe's net worth is $2.8 billion. Eyesizwe Coal thrived and earned him financial success. , Sep 6, 2022. 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. TheSouthAfrican.com is all about South Africa and the stories that affect South Africans, wherever they are in the world. In Egypt, the family-owned Mansour Group is one of the countrys largest revenue generators. Learn more about how Statista can support your business. You need a Statista Account for unlimited access. 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). If youre interested in crunching the numbers yourself, you can grab the data over here. She was born and raised in Soweto and came into the limelight after starring as Doobsie in SABC 2's soap opera Muvhango. But in the fashion industry, it is his wife, Precious Moloi-Motsepe, whose name people recognise instantly. Because I grew up as a first-generation college student who watched my single mother struggle financially to provide for our family, I charged myself with creating a different outcome for myself. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. She also owned Royal Eagles FC, a South African football club, but has since sold itS. Get in touch with us now. Most wealthy Africans have come from Nigeria, Angola and Ghana. The gap is even wider when we look at Black and white Americans. 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. . He also owns other properties and a fleet of luxury vehicles. Its not the easiest path to accrue large amounts of wealth, says Bronwyn Williams, trend forecaster at Flux Trends, a business trend company based in South Africa. He rose to fame for being Londie Londons husband and baby daddy. As a Premium user you get access to the detailed source references and background information about this statistic. A dollar tends to go father in Big Sky Country, too. How we made it in Africa is published by Maritz Publishing CC. [Online]. Top class private schools for their children. Copyright Blue Sky Publications Ltd. All Rights Reserved. But in the fashion industry, it is his wife, Precious Moloi-Motsepe, whose name people recognise instantly. They were becoming customers or they were referring customers to me. His net worth is $36.4 million. I just kept investing more and more each year. The people around you will tell you that you're crazy. Only seven of the United States' 614 billionaires are African American, Forbes' Billionaires List shows. 3 million). [Online]. Through budgeting, debt elimination, saving, and investing, I became a self-made millionaire in my 30s. Since assuming government positions, he stepped back from his business pursuits to avoid conflict of interest. [4], The 2020 billionaires' list was released by Forbes on 14 January 2020. Cyril Ramaphosa is one of the leading Black South African millionaires in 2023. Which streaming service do you use the most. 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. North Africa also features strongly in the rankings, with Egypt, Libya, Tunisia, Morocco and Algeria . 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 an estimated net worth of $9.5 billion as of 2023. Roughly 30% of the entire Black population was below the age of 20 and 11% were 65 or older. [Now] I'm teaching how to build a seven-figure net worth using your salary alone. Using comment sections to post about or comment on closed threads will result in that section being closed to further posts. He is among the few known South African forex millionaires. However, Black females typically report average revenues that are less than their White, Latina, and Asian American counterparts. Some politicians have been the biggest profiteers of the continents resources or have used their power to stop others from accruing wealth. Koos Bekker billionaire (owner of Nasper), Giorgio Armanihas debuted a pop-up inside Just One Eye, the highly curatedLos Angelesboutique. anyone that was restricted from voting prior to 1994). She also constructed the Morocco Mall, which is now one ofAfricas largest shopping centres. Heres how many SA millionaires and billionaires live in YOUR area Photo: Stock/Canva, Have you ever wondered how many millionaires, centi-millionaires or billionaires live in your neighbourhood? Koos Bekker, who is worth $2.2 billion, made all his money online from ventures like internet group Naspers. Being in the construction industry means she has invested in properties and is among the richest property moguls in South Africa. ALSO READ: Learn to earn: Which SA universities have produced the most millionaires? I was actually left with debt from my parents, which I also paid off over time. Gentrification doesn't have to force minority residents out of their homes. Racism has cost Black Americans $70 trillion since the start of slavery here's how that cost breaks down, For Black Americans, degrees aren't about catching up they're a matter of survival. Now that community has 65,000 people. Net worth: $2.3 million. As a Premium user you get access to the detailed source references and background information about this statistic. Briefly.co.za recently published a list of the cheapest cars in South Africa in 2023. The top 5% of African Americans have 20 times more wealth. While Mntambo owns many assets, he has not disclosed what he owns to the public. One of the brands Pepkor acquired in 1984 was Ackermans, a name that is deeply entrenched in South Africas retail history. Most people who pay tax earn less than R350000 a year. "Number of High Net worth Individuals (Hnwis) in Africa as of 2021, by Country. Lauritz (Laurie) Dippenaar has invested in financial services. All Rights Reserved. By clicking Sign up, you agree to receive marketing emails from Insider Today the retail chain counts 700 stores, 80 of which opened in the 2018 financial year. The country has a favourable business environment and a relatively stable economy. The African fashion ecosystem favours business people [who already have] money [so they often get] the main [brand] franchises and dabble in fashion. It noted that previously disadvantaged groups include Black Africans, Coloreds, Indians and Chinese Asians (i.e. The entrepreneur owns a record label called Family Tree. Elon Musk, the founder of Tesla and SpaceX, comes in second with $139.9 billion. He is the fifth democratically elected president of the Republic of South Africa. But even before he became Mr. The index breaks down South Africa's richest as follows: Half-dollar-millionaires - worth $500 000 / R7.8 million and above: 215 000. Others were born into wealthy families and have invested in industries that pay well. 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. How much of a Momentum Proteas Womens cricket fan are you? Attacks on BusinessTech, its journalists or other users will result in a ban. Access to this and all other statistics on 80,000 topics from, Show sources information 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. Rachel Rodgers, 38, is an intellectual property lawyer based in Greensboro, North Carolina, and CEO of Hello Seven, where she seeks to help women make seven figures. 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. Only includes countries with over 800 millionaires in 2012. Yes, Patrice Motsepe is a black billionaire from South Africa. We're on group chats; we email each other. New World Wealth defines a millionaire as someone with net assets of US$1m or more, excluding their primary residences. 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. A car has become a necessity rather than a luxury in contemporary South Africa. Get full access to all features within our Business Solutions. As of 2022, here are the world's 15 Black billionaires: 1. 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. One way is to know what's possible and how to do it. The Richest Africans is an annual ranking of the richest African people, compiled and published by the American business magazine Forbes. Currently, you are using a shared account. statistic alerts) please log in with your personal account. Control what you can control. He also founded Tiso Blackstar Group, a media company. An estimated 2% of black households or 340,000 families have a net worth of more than $1 million. Wealth inequality in the United States. His fleet of vehicles includes two Land Rover Discoveries, four Range Rovers, two Audi Q7s, and three Audi A6s. April Stewart, 42, is a financial coach based in Washington, DC, and is known as April the Money Coach. You need at least a Starter Account to use this feature. Reports estimate that despite accounting for 16 percent of the worlds population, Africa only accounts for 1 percent of the total worldwide wealth. He is the founder of the Pick N Pay Group supermarket chain. It includes all their assets (property, cash, equities and business interests) less any liabilities. Our offices are for administrative purposes only, no visitors will be accepted without an appointment. "Number of millionaires and billionaires in Africa as 2021, by wealth tier." The richest man in South Africa is Johann Rupert. 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. He is also the chief executive officer of Exxaro Resources. There are 15 black billionaires in the world and we just highlighted the top 10. The code has been copied to your clipboard. Get the news that matters from one of the leading news sites in South Africa, Smart woman bags honours degree in Biochemistry, has huge plans for the future, "How tall are you? He is yet to disclose the luxury models he owns. The advisory firm said that racial wealth breakdowns are an important issue in South Africa many feel that the speed of wealth transfer to previously disadvantaged groups has been too slow. He owns multiple assets in different parts of the world, including Dubai and Nkandla. 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 . Copyright Blue Sky Publications Ltd. All Rights Reserved. As a result, they work hard to achieve millionaire status. UK-based New World Wealth recently released a report that ranks African countries according to their number of millionaires. Take Tanzanias GSM Group, whose current president Ghalib Said Mohamed oversees a portfolio of glittering shopping malls, but which began with Mohameds ancestor hawking clothes on the streets of the port city of Tanga. READ ALSO: Top 20 cheapest cars in South Africa: most affordable cars in 2023. As a Premium user you get access to background information and details about the release of this statistic. Aliko Dangote: $14 billion Africa's richest man, Aliko Dangote saw his fortune grow from around $11.5 billion on last year's list.. Learn more about how Statista can support your business. Number of high net worth individuals (HNWIs) in Africa as of 2021, by country [Graph]. Because then you're going to do work that you love to do. The report for 2022 detailed some of the fascinating fiscal trends in South Africa. And for some of those who eventually settle in the country, the dream can become a reality VOAs Arzouma Kompaore gives us a closer look at these African immigrants who are transforming their lives in America. The actress' assets include luxury cars. A well-developed stock exchange and financial services system. You just have to do the basics, in the right way, consistently. Zwelibanzi Vincent Mntambo is the founder of Eyesizwe Coal, a mining company. Mthetheleli Ngumbela's net worth remains undisclosed in the public domain. previously disadvantaged groups include Black Africans, Coloreds, Indians and Chinese Asians (i.e. He is the founder and chairman of African Rainbow Minerals, and he became attained billionaire status in 2008. Show publisher information Finding work that you feel naturally drawn to. 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. I'm going to keep building wealth. An estimated. Adrian Gore is among the top 10 richest men in South Africa in 2023. In fact, about 80% of US millionaires worked for their money, with only 20% of millionaires inheriting their fortunes. The business mogul owns multiple properties in South Africa, a fleet of luxurious vehicles, and other undisclosed assets. Many people dream of becoming wealthy. The businessman, investor, and banker is a multi-millionaire who lives a quiet life. [1] In 2018, there was a record of 23 African billionaires on the list. A paid subscription is required for full access. She was born and raised in Soweto and came into the limelight after starring as Doobsie in SABC 2's soap opera Muvhango. [1] [dubious - discuss] Regions by number and percentage of millionaires [ edit] Activists say there are 3 ways to protect communities. I wasn't taught about money [growing up] except that "there wasn't enough of it" and that "it was hard to come by." You have to take risks. 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. Answer these 2 simple questions & WIN R1000 in cash! From Political Intrigue to Textile Moguls. Countries with the highest millionaire rate in 2021, Number of ultra high net worth individuals 2021, by region, Number of people with wealth over one million U.S dollars 2021, by country, Ranking of the 22 richest people in China as of 2022. There are thousands of South African millionaires in 2023. His apparel line is also called Family Tree. 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. But were particularly interested in the people who are earning the big bucks. The country had 39,300 high net worth individuals (HNWIs), corresponding . And because of that, you're going to get better and better at it. Richest Black Billionaires in the World 2022 1. From there, I went to build cash reserves of six months of living expenses. Unsurprisingly, the continents largest economy, South Africa, dominates the list with a total of 48,800 millionaires. MaMkhize is a socialite, businesswoman, philanthropist, and television personality born and raised in Umbumbulu, KwaZulu-Natal. 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. Are you interested in testing our business solutions?