What You Need To Know About South Africa's Ultra Wealthy

LONDON, Nov. 25, 2015 /PRNewswire/ -- South Africa is home to 835 ultra wealthy individuals with a combined net worth of US$112 billion, making it the country with the largest ultra high net worth (UHNW)* population in Africa, according to a Wealth-X and UBS study.

Below are other key findings from the study:

• Johannesburg has the largest UHNW population in South Africa (450 individuals), followed by Cape Town (150 individuals). The remainder are located in other parts of the country.
• There are 10 billionaires in South Africa with a combined net worth of US$28 billion.
• 77% of South Africa's UHNW population is self-made; 17% inherited their wealth and grew it; 6% fully inherited their wealth.
• South Africa accounts for just under 30% of the region's total UHNW population.
• South Africa leads other African nations in terms of UHNW population and combined net worth, followed by Nigeria (645 UHNW individuals; US$90 billion) and Egypt (595 UHNW individuals; US$80 billion).
• South Africa is ranked 33^rd in Wealth-X's global ranking of UHNW countries.

We profile two of South Africa's ultra wealthy individuals with a full Wealth-X dossier for download:

Energy Drink Billionaire
Hilton Schlosberg, Vice Chairman, Monster Beverage
Net Worth: US$1.7 billion
Known For: Launching an energy drink in 2002 called Monster Energy. In June 2015, The Coca-Cola Company finalised an acquisition of a 16.7% stake in Monster Beverage for a reported $2.1 billion, making Schlosberg and CEO Rodney Stacks instant billionaires.
For Schlosberg's dossier, click here.

Telco Tycoon
Irene Charnley, Founder and CEO, Smile Telecoms
Net Worth: US$160 million
Known For: Charnley founded Smile Telecoms in 2007. Co-founded Pontso Investment Holdings with the purpose of empowering women through granting them a financial stake in the economy of South Africa.
For her dossier, click here.

* defined as individuals with at least US$30 million in net assets

About Wealth-X
Wealth-X is the global authority on wealth intelligence, providing sales, marketing, strategy and compliance solutions to clients in the financial services, luxury, not-for-profit and education sectors. Its award-winning research and thought leadership are regularly cited by the world's media such as CNBC, Financial Times, Thomson Reuters and BBC. Wealth-X has more than 250 staff in 10 global centers, including Singapore, London and New York (www.wealthx.com)

SOURCE Wealth-X

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