5 major traits of South African millionaires that will bring you closer to being like them

Mildred Europa Taylor Jun 29, 2019 at 05:37pm

June 29, 2019 at 05:37 pm | Money Moves

Mildred Europa Taylor

Mildred Europa Taylor | Head of Content

June 29, 2019 at 05:37 pm | Money Moves

Image result for johannesburg south africa
Johannesburg. Pic credit: The Travels of Bbqboy and Spanky

Where they live

Of the 39, 200 High Net-Worth Individuals (HNWIs) – with assets of more than $1 million – 16, 600 call Johannesburg home. Thus, Johannesburg is the wealthiest area, and it has a total private wealth of $248 billion. There are 16, 600 HNWIs ($1 million plus) and 870 multi-millionaires ($10 million-plus) living in this city and its surrounds, according to the report.

Cape Town is next. Its private wealth is calculated at $133 billion, with 7, 100 HNWIs and 420 multi-millionaires living there. Durban, Ballito and Umhlanga area has a total wealth of $ 4 billion, but has grown the most in the past decade at just on 25%. The most expensive streets in the country were both in Cape Town – Victoria Road in Clifton and Bantry Bay and The Ridge and Cliff Road, in the same area, where properties cost R90 000 ($ 6,389) a square metre.

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