South African millionaires

Most South African millionaires pursue degrees in Law and Finance. Images: Pixabay.

These six fields of study produce the MOST millionaires in SA

Law and finance are some of the fields of study pursued by South African high-net-worth individuals worth US$ 1 million or more.

South African millionaires

Most South African millionaires pursue degrees in Law and Finance. Images: Pixabay.

The majority of South African millionaires obtained degrees and certificates in two fields of study, according to a report by local-based global wealth intelligence firm, New World Wealth.

WHAT MILLIONAIRES STUDIED AT UNIVERSITY

The Africa Wealth Report looks at trends among high-net-worth individuals (HNWIs) and the luxury management sector and market on the African continent.

According to South African demographics, HNWIs – who are described as individuals with a wealth of US$ 1 million or more – most commonly pursue degrees in law and finance.

Fields of study pursued by South African millionaires:

  • 30% – Law (LLB, LLM)
  • 28% – Finance and Accounting (B.Com, MBA, CA, CFA)
  • 20% – Other
  • 7% – Medicine and Science
  • 7% – Computers and Information Technology
  • 5% – Engineering
  • 3% – Mathematics and Statistics

The fields of study referred to above are the last degree or certification achieved by millionaires. The figures are for December 2021. Source: New World Wealth.

The majority of millionaires obtained their tertiary qualifications at the country’s top-ranked university – the University of Cape Town (UCT) – followed by the University of Witwatersrand (Wits).

Top universities for producing millionaires:

  • 20% – University of Cape Town
  • 18% – University of Witwatersrand
  • 14% – Other
  • 13% – Stellenbosch University
  • 9% -Rhodes University
  • 8% – University of South Africa (UNISA)
  • 7% – University of Pretoria.
  • 4% – US universities (Harvard, Yale, etc.)
  • 3% – UK universities (Oxford, Cambridge, etc.)

The list above refers to the last university attended by the millionaire. Figures for December 2021. Source: New World Wealth.

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