While the rest of us plebs count our pennies and have baked beans on toast, let us delve into the world of the millionaires for a while where baked beans and toast are both prepared to order by your own personal chef.
Alright, so it is perhaps not as dire as bean-on-toast for many of us, but by comparison it does sort of feel that way. The City Press have revealed that SA’s richest are getting richer (we knew that) faster than any other group of elites worldwide (WHAT!).
Research by analysts New World Wealth has revealed that we’re now home to 49 000 dollar millionaires – those who have net assets of more than $1 million (R10.7 million) – and 2 060 are multimillionaires – people who have more than $10 million in net assets.
New World Wealth reveals that the figures have shot up in the past decade – the number of South African millionaires grew by 106% and we have 120% more multimillionaires than we did in 2004.
These figures are compared with global figures of a 58% growth in millionaires and a 71% growth in multimillionaires in the same decade.
And what have these super wealthy invested in to build such a massive accumulation of assets? Everything you would expect really…
Artwork is a particularly popular investment among these elite, as are classic cars. Wine farms are another particularly popular investment and understandably so – who doesn’t love a good glass of wine?
In a slightly different arena, ” rare animals” are also a particularly lucrative investment in SA.
[Examples include] buffalo, roan antelope and sable antelope.
These animals “are worth over R300 000 per animal today and have been a good investment over the past decade”.
Amoils says most of South Africa’s multimillionaires (990) live in Johannesburg, followed by 380 in Cape Town, 115 in Durban and 105 in Pretoria.
If you are in Camps Bay this week and want to get in on a little bit of this millionaire action, be sure to check out Enigma Mansion – it is on the market at the moment for a mere R300 million, and might make a lovely new home for you or a friend.
Check out more details on the lifestyles of the rich and secretive of SA at City Press.
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