Eight thousand South Africans became dollar millionaires in 12 months. They are among the 12 000 dollar millionaires created in South Africa over the past 3 years. The Lotto created 34 dollar millionaires. The 2005 World Wealth Report, which monitors super-rich individuals in 68 countries, also shows that South Africa boasts Africa’s largest population of ultra-rich individuals (personal financial wealth ranging between $5-million and $30-million). More than half of Africa’s 75 000 dollar millionaires, who hold a combined fortune of $700-billion, are based in South Africa. The increase in the number of South Africa’s super-rich over a one-year period is matched only by Singapore, Hong Kong and Australia. Capgemini compiled the report with Merrill Lynch. In 2002 you would have required R9.5-million to become a dollar millionaire. Without having earned another penny, in 2004 you only needed R6.1-million. The World Wealth Report includes private investments and shares, but excludes artworks and private homes in its calculation of personal wealth. Private banking group, BoE Private Bank, has more than 250 dollar millionaires as clients.
The sale of expensive cars and luxury homes is another indicator of South Africa’s affluence. ReMax SA has at least 40 R10-million properties on its books. In Johannesburg alone, Investment Cars has sold more than 39 vehicles with price tags of at least R2-million over a two-year period, this excluded sales at its Pretoria and Cape Town branches for cars such as the Bentley GT, Aston Martin and the R3.8-million Lamborghini Murciélago Roadster.
The latest Forbes list shows the Oppenheimers are worth R30-billion in estimated total assets, with the Ruperts at R11.5-billion. In 1997, the Financial Mail’s list of South Africa’s 25 richest families was dominated by white businessmen, with a combined wealth of R23.6-billion. Now you'll find soccer boss as Kaizer Motaung, who was a major shareholder in black-led oil company Exel, which was bought by Sasol last year. Patrice Motsepe has shares valued at around R3.5-billion and Tokyo Sexwale has a share value of around R1.5-billion.
