New World Wealth and Henley & Partners have published a report on African wealth in 2022, which details the education trends of the richest citizens of South Africa.

The report focuses on individuals with large capital (HNWI) with a fortune of $ 1 million (Rs 15.70 million) and more. Total wealth refers to the private wealth of all individuals living in each country. This includes all their assets – property, cash, stocks, business shares – net of liabilities.

Most of the country’s HNWI has acquired its wealth through financial and professional services (including banks, law firms, accountants, fund managers and managers), followed by the real estate sector.

The technology and telecommunications sector also ranks high on the list for wealth acquisition.

Evidence suggests that the HNWI of South Africa typically studied law, finance, or accounting degrees when at university. The University of Cape Town is the most popular university among the HNWI (20%), followed by the University of the Witwatersrand (18%) and the University of Stellenbosch (13%).

You can find complete information on what the richest people in South Africa have studied and in what fields they work, below.

What they studied

Subject Percentage of HNWI
Law (Bachelor, Master of Laws) 30%
Finance and Accounting (B.Com, MBA, CA, CFA) 28%
Another 20%
Medicine and science 7%
Computers and information technology 7%
Engineering 5%
Mathematics and statistics 3%

Where they studied

university Percentage of HNWI
University of Cape Town (UCT) 20%
University of the Witwatersrand (Witts) 18%
Another 14%
Stellenbosch University (SU) 13%
University of Rhodes (RU) 9%
University of South Africa (UNISA) 8%
University of Pretoria (UP) 7%
University of Johannesburg (UJ) 4%
US universities (Harvard, Yale, MIT, etc.) 4%
Universities of Great Britain (Oxford, Cambridge, etc.) 3%

How they made money

Industry Percentage of HNWI
Financial and professional services * 35%
Real estate 12%
Technology and telecommunications 10%
Basic materials 8%
Healthcare 7%
Diverse 7%
Retail 5%
Fast-moving consumer goods (FMCGs) 4%
Media 4%
Production 3%
Transport and logistics 3%
Hotels and leisure 2%

* Financial and professional services include banks, law firms, consulting firms, fund managers and equity managers.

Read: Here’s how many South Africans are moving to Portugal – and changes for gold visas

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