Global wealth intelligence firm New World Wealth has released its W10 Report, looking at the 10 wealthiest countries in the world by total wealth held.
Worldwide stats for December 2020 shows that total private wealth held worldwide amounts to approximately US$202 trillion. The average individual worldwide has net assets of around US$26,000 (wealth per capita) and about 2,095 billionaires in the world, each with net assets of US$1 billion or more.
NWW notes key drivers of wealth growth to be strong economic growth and ownership rights, a favourable tax environment, media freedom and strong safety and security. click here to see the full report.
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While South Africa falls far short of a new report measuring the private wealth of South Africans, and the continent as a whole, shows South Africa's ability for individuals to retain wealth declined by 25% over the last decade, while an estimated 4 200 High Net Worth Individuals have left the country.
It did however underscore Durban's North Coast and the Cape's Winelands as a prime location for High Net Worth Individuals (HNWIs).
While Johannesburg and Cape Town are brimming with South Africa's super rich, the latest Africa Wealth Report compiled by wealth intelligence firm New World Wealth and AfrAsia Bank shows the number of wealthy people living around Durban and the North Coast is growing rapidly.
READ: SA bleeding dollar millionaires as wealth declines by 25%
And while South Africa is home to over twice as many dollar millionaires as any other African country, Egypt has the most billionaires on the continent. New World Wealth defines millionaires as those with a net worth of $1 million or more. The “Big 5” wealth markets in Africa are: South Africa, Egypt, Nigeria, Morocco and Kenya – together these five countries account for over 50% of Africa’s total wealth.
*Note: “Wealth” refers to the net assets of a person. It includes all their assets (property, cash, equities, business interests) less any liabilities.
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