A lecture hall from the University of Witwatersrand – Photo: Flickr / Creative Mornings Johannesburg
A lecture hall from the University of Witwatersrand – Photo: Flickr / Creative Mornings Johannesburg
The latest African Wealth Report for 2022 has been published this week, detailing some of the most fascinating fiscal trends in South Africa. The document, produced by New World Wealth, also looks into which of our domestic universities are creating the most dollar-millionaires – and it’s a tight battle at the top.
What did the millionaires of South Africa study?
High Net Worth Individuals – or HNWIs – are private citizens with a net worth of $1 million / R15 million, or more. There are around 40 000 of these financial elites who still reside in Mzansi. Though their spending habits remain a huge draw of curiosity, their education history also makes for an intriguing read.
More than half of the HNWIs in SA have an educational background in law or finance. In fact, 58% of our dollar-millionaires have a degree in either of the two aforementioned subjects. Accounting, medical science, and IT studies also make up a large portion (19%) of our remaining wealthy residents.
Revealed: THESE universities are producing the most dollar-millionaires in the country
But, when the debate boils down to specific universities, we’ve got two front-runners. Both UCT in Cape Town, and Wits University in Johannesburg, run each other close – but it’s the former which tops the tree.
Around 20% of all dollar-millionaires in South Africa studied at the Western Cape’s iconic institution. However, those going to Wits aren’t exactly missing out, and the Gauteng-based facility has educated 18% of our HNWIs.
LOOK: List of HNWI-producing venues for 2022
Stellenbosch, Rhodes, and UNISA have all made a grand contribution, with the University of Pretoria and University of Johannesburg also making an appearance on the list. Interestingly enough, around 7% of all major money makers in South Africa studied in either the UK or the USA. Fancy that…
How many HNWIs have graduated from these establishments?
- University of Cape Town: 20%
- Wits University: 18%
- Stellenbosch / Stellies: 13%
- Rhodes University: 9%
- UNISA: 8%
- University of Pretoria: 7%
- US and UK institutions (various): 7%
- University of Johannesburg: 4%
- OTHER: 14%
