In order to join the top 1% of the wealthiest South Africans, you need to make almost six times more than the average earner. But that doesn’t mean life is all rainbows and butterflies.
This report reveals how much money individuals require in order to be among the top 1% of the wealthiest in their countries.
Globally, if you want to rank among the top 1% of earners, you need to be pulling in serious dough. In South Africa, the world’s most unequal society, that’s not exactly the case.
Credit Suisse’s Global Wealth Report for 2021 shows just how concentrated our country’s wealth is, and how the inequality gap is only widening.
So you’ve cracked the top 1%. Well played, but if you want to join the real elite bracket, you’ll need to step things up considerably.
I’m sure many of you don’t really feel like you’re in the top 10% of richest South Africans, but the numbers don’t lie.
You’ll often hear people talking about the elite ‘one percent’, but how much do you need to take home in order to qualify?