I started to budget. Many people recognise Vusi Thembekwayo as a venture capitalist, best-selling author, elite coach, mentor, and keynote speaker. Things that are attracting them to SA include: We expect over 10,000 African millionaires to move to SA over the next decade, significantly boosting millionaire numbers and luxury spending in SA, NWW said. Phuthuma Nhleko is a civil engineer by profession. 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 as early as 2001, Salwa has been bringing fashion brands likeGucciandZarato Moroccos major cities. The actress has a line of gin called I Am Khanyi. Millionaires are individuals with wealth of one million U.S. dollars and more. 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. Are you interested in testing our business solutions? out of the 607 Americans featured on the list, just four were black. The 13th richest person on the continent on this years Forbes list is Aziz Akhannouch who attributes most of his $1.7 billion fortune to his family-owned conglomerate the Akwa Group. Most of them have invested in various businesses. 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. Aliko Dangote: $14 billion Africa's richest man, Aliko Dangote saw his fortune grow from around $11.5 billion on last year's list.. After a series of acquisitions and mergers, he formed FirstRand Bank, one of the leading financial institutions in South Africa. . , Sep 6, 2022. While other industries have reigned supreme in terms of wealth generation, the sizeable list of businessmen and women who found ways to monetise the fashion industry suggests that Africas entrepreneurial youth can follow similar paths to fortune. ALSO READ: WATCH: What?! Accessed March 05, 2023. https://www.statista.com/statistics/1242532/number-of-millionaires-and-billionaires-in-africa/, Henley & Partners. Moloi-Motsepe is the founder of African Fashion International, a full-service fashion agency and the brains behind fashion week events in both Johannesburg and Cape Town. And looking at your work experience and seeing: How does that match a problem in the marketplace that you could solve? In addition to the continents billionaires, there are over 300 centi-millionaires living in Africa, each with net assets of $100 million or more, according to the most recent Africa Wealth Report. But in the fashion industry, it is his wife, Precious Moloi-Motsepe, whose name people recognise instantly. He is the founder and chairman of African Rainbow Minerals, and he became attained billionaire status in 2008. The staggeringly low number of American billionaires that identify as being of African. But what the listing fails to mention is Azizs wife,Salwa Idrissi Akhannouch, CEO and founder of the Aksal Group, a luxury fashion company based in Casablanca, who is one of the wealthiest women in North Africa. The top 5% of African Americans have 20 times more wealth. Many people dream of becoming wealthy. A new report finds that there were 14,700 South African high-net-worth individuals (HNWIs) from previously disadvantaged groups at the end of 2014. Koos Bekker billionaire (owner of Nasper), Giorgio Armanihas debuted a pop-up inside Just One Eye, the highly curatedLos Angelesboutique. This number has risen sharply, from 6,200 in 2007, NWW reported. The list above shows the top 15 people who acquired wealth by running successful businesses. A boom in African millionaires doesnt suggest that wealth is being distributed more fairly globally either. As a Premium user you get access to the detailed source references and background information about this statistic. "Many African millionaires have also bought second residences in South Africa, which they use for business and holiday. (April 22, 2022). statistic alerts) please log in with your personal account. She has also invested in real estate and runs 2k Business Centres in Sandton. Adrian Gore is among the top 10 richest men in South Africa in 2023. The list has been published since 2015. Over 113 000 people fall into this bracket, with an average income of R1.32 million per person. Forbess most recent estimation of billionaires from the continent caps the number at 20, but the continents list of high net worth individuals (HNWIs) is much larger. South Africa Blue Sky Publications (Pty) Ltd T/A TheSouthAfrican Number: 2005/028472/07. Mthetheleli Ngumbela's net worth remains undisclosed in the public domain. (Credit Suisse Research Institute) Around 2% of black households have a net worth of over $1 million. When you break down the numbers, the inequities are even more depressing. He is an advisor to Fortune 500 companies and many blue-chip corporates across the globe. Here's a list of the richest black billionaires in the country. Most people recognise her from the Mzansi Magic reality series Kwa Mam'Mkhize. The report for 2022 detailed some of the fascinating fiscal trends in South Africa. Total private wealth in Africa amounted to 2.1 trillion U.S. dollars in 2021. Currently, you are using a shared account. Her fleet features a Mercedes-Benz G-Class, Lamborghini Urus, Lamborghini Huracan, Porsche Carrera GTS, and Mercedes-Benz AMG. There is very little religious violence (when compared to countries like Nigeria). Here's a list of the handful of African . He is the founder of Dangote cement. Top of the list was Nicky Oppenheimer with an estimated net worth of R95.2 billion. He is the director of this company and has been engaging in stock trading for years. The rapper's fleet of luxury vehicles includes a McLaren GT, Bentley Continental GT V8, and a Rolls Royce. to incorporate the statistic into your presentation at any time. Out of the 2,755 billionaires in the world, only 15 are black. TheSouthAfrican.com is all about South Africa and the stories that affect South Africans, wherever they are in the world. Comments will be closed 24 hours after the article is published. The country is home to household names like Shoprite and Woolworths as well as magnates like Raymond Ackerman and Christoffel Wiese who have made fortunes from building giant retail corporations. [1] You need at least a Starter Account to use this feature. statistic alerts) please log in with your personal account. 3 million). That is not to say however, that Africa lacks wealthy people. 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). In 2012, he co-founded the Pembani Remgro Infrastructure Fund with Johann Rupert. He is the founder of Shanduka Group, an investment firm with interests in multiple industries. Because of this, my company grew along with my network. And more than 5% of the state's households can claim millionaire status. Ngumbela was an astute businessman who passed away in a car crash in 2021. In the 1800s, Pleasant became one of the first African-American female self-made millionaires in the U.S. despite the significant obstacles she faced as black woman. UK-based New World Wealth recently released a report that ranks African countries according to their number of millionaires. In 2006, Kumba Coal, Kumba Resources Limited, and Eyesizwe Coal merged to form Exxaro Resources Limited. She neednt worry though Forbes estimates she is still worth 2.2 billion making her the richest woman in Africa. April Stewart, 42, is a financial coach based in Washington, DC, and is known as April the Money Coach. After years of making a good salary but living paycheck to paycheck with minimal savings, it was obvious that I was missing something. By using this site you agree with our privacy and cookie policy. Indeed, from Ato Ketema Kebedes riches built on acrylic yarn in Ethiopia to Yerim Sows Senegalese shopping mall that is home to brands like Adidas andHugo Boss, fashion has been an important way for more moderately wealthy Africans to find success outside the billionaires league. Raymond Ackerman runs his business together with his family. Dollar . The Sunday Times puts his net worth at 859 million ($1.1 million). His apparel line is also called Family Tree. The URL has been copied to your clipboard. Since assuming government positions, he stepped back from his business pursuits to avoid conflict of interest. So read on for advice on how to build wealth from three Black millionaires who didn't start out that way. 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. 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". All Rights Reserved. ALSO READ: Learn to earn: Which SA universities have produced the most millionaires? 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. It has all sorts of interesting info including how many millionaires there are in the country (by income). And because of that, you're going to get better and better at it. He has a personal car collection and multiple properties in Cape Town and Johannesburg. You need a Statista Account for unlimited access. Richest Black Billionaires in the World 2022 1. [1] [dubious - discuss] Regions by number and percentage of millionaires [ edit] Because then you're going to do work that you love to do. To use individual functions (e.g., mark statistics as favourites, set 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. The actress' assets include luxury cars. Nigeria, Africas most populous nation and largest oil producer, takes third place with 15,900 millionaires. Mo Ibrahim According to the Sunday Times Rich List, Sudanese-born Mo Ibrahim is the richest Black man in Britain. There's a certain level of discipline required. Available: https://www.statista.com/statistics/1242532/number-of-millionaires-and-billionaires-in-africa/, Number of millionaires and billionaires in Africa as 2021, by wealth tier, Available to download in PNG, PDF, XLS format, HNWI population worldwide 2010-2021, by region, Assets of HNWIs worldwide 2010-2021, by region, Number of millionaires in China 2015-2021, Annual growth rate of millionaires in China 2011-2021, Number of super rich people in China 2012-2021, Number of super rich people in Greater China in 2021, by city, Number of HNWI in China 2020, by wealth group, Distribution of super rich individuals in Greater China as of 2021, by nature, Luxury goods market revenue in China 2014-2027, Share of Chinese luxury consumption abroad and in China 2015-2021, Main reasons for purchasing luxury goods in China 2020, by age group, Leading luxury goods categories bought by Chinese luxury shoppers 2021, by age, Most popular alcoholic beverages among Chinese millionaires 2021, Most popular tea types among Chinese millionaires 2021, Most popular collector's items among Chinese high-net-worth individuals 2021, Share of Chinese millionaires who would buy used luxury goods 2021, Preferred leisure activities among Chinese millionaires 2021, China: luxury tourism revenue 2019-2024, by market, Most popular international travel destinations of Chinese millionaires 2019-2021, Most popular domestic travel destinations of Chinese millionaires 2019-2021, Most popular travel themes among Chinese millionaires 2021, Preferred gifts for men by Chinese millionaires 2021, Preferred gifts for women by Chinese millionaires 2021, Major charity donators in China 2021-2022, by donation, Chinese millionaires' leading donation purposes 2011-2021, Origins of leading philanthropists in China 2022, Distribution of investable assets of UHNWIs in the U.S. 2014, Distribution of assets of millionaires in the U.S. 2014, Prosperity measurements for regions of the United Kingdom (UK) 2017, Number of billionaires South Korea 2014-2024, Number of high net worth individuals in Japan 2021, by wealth range, Distribution of assets of UHNWIs in the U.S. 2014, Total wealth of the adult population in Japan 2000-2021, Number of millionaires South Korea 2010-2021, Non-financial wealth as a percentage of gross wealth in Asia Pacific 2019, by country, Foreign direct investment (FDI) from China, Find your information in our database containing over 20,000 reports. As of 2022, here are the world's 15 Black billionaires: 1. A car has become a necessity rather than a luxury in contemporary South Africa. Every year, the South African Revenue Service (SARS) publishes data on the tax revenue it collects. Their responses, below in their own words, have been lightly edited and condensed. South Africa Blue Sky Publications (Pty) Ltd T/A TheSouthAfrican Number: 2005/028472/07. There are over 39 thousand South African millionaires in 2023. 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. He has invested heavily in multiple industries. Man tries to steal the top part of a streetlight. There's so many ways that money can be used to do good things in the world. Also, the Forbes provides daily net worth updates which reflects change by 5 PM ET of prior trading day.[5]. Here are the habits of millionaires. Due to his position, President Ramaphosa is chauffeured in a presidential motorcade. While Mntambo owns many assets, he has not disclosed what he owns to the public. Top class private schools for their children. He recently launched a tequila beverage called Billiato and signed a Root of Fame sneaker deal with Drip Footwear. Hlubi Nkosi's net worth is not known in the public domain. East Tennessee has many stories of how African Americans made improvements within its region. 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). Plus, having a net worth of more than $1 million doesn't mean you're immune to stress or other concerns. Here is how many. 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. He also founded Tiso Blackstar Group, a media company. Please create an employee account to be able to mark statistics as favorites. Who is the richest woman today? Attacks on BusinessTech, its journalists or other users will result in a ban. He runs a family-owned vineyard called Tokara and a nature conservancy. Sandile Shezi is recognised as the youngest millionaire in the country. 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. Briefly.co.za recently published a list of the cheapest cars in South Africa in 2023. She is also the founder of Zikhulise Auto Recoveries, Zikhulise Maintenance and Transport, and Inyanga Trading. Visit her at, Fee-only vs. commission financial advisor, This article is part of Business Insider's "Inside the racial wealth gap" series. Statista. His family owns the Isthebe Group of Companies with interests in oil, gold, cigarette, diamond, airline, and retail. Their youngest daughter, Temi, is now making a name for herself in fashion as a blogger under the initials J.T.O. While he owns multiple vehicles and properties, there is no information about them in the public domain. He has a palatial property in Johannesburg. High-net-worth individuals are defined as having a net worth of at least $1 million (R15. 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? 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? Address: Riverbank House, 1 Putney Bridge Approach, London, SW6 4TJ. However, Black females typically report average revenues that are less than their White, Latina, and Asian American counterparts. Exclusive shopping centers (examples: Sandton City, Gateway, Montecasino, V&A, Hyde Park and Cavendish). One of the best private healthcare system in the world. Jacob Gedleyihlekisa Zuma is the former president of South Africa and a successful businessman. The richest man in South Africa is Johann Rupert. 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. People jump to the "advanced" because they think it will fast-track them. NWW defines millionaires or high net worth individuals (HNWIs) as those people with net assets of US$1 million (R14.5 million) or more. Despite the continents strong economic growth over the past decade, the majority of Africans still struggle to make ends meet. Number of high net worth individuals (HNWIs) in Africa as of 2021, by country [Graph]. The first, second and the fourth richest men are all Nigerians and they made a huge percentage of their money from the Nigerian market. 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.