This is how much of South Africa’s wealth is in the hands of the super rich

[BusinessTech]

This is how much of South Africa’s wealth is in the hands of the super rich

South Africa's wealth is concentrated at the top.

 

[ShaunSA]

Ah Oxfam at it again

They looking for more money to steal?

 

[AstroTurf]

Yup, Planetary and I think it will be the reason for the next purge. The homeless will eat the rich.

 

[dualmeister]

Never mind Inverters, those guys could build their own power stations

 

[Quicks]

African: Solution dto the problem let burn down and loot the country!

I am guessing these SA billionaires will not be investing anymore money in this black hole.

 

[1am7h30n3]

I wonder about getting my money out of this country, inflation and exchange rate is making it worth less and less...

 

[deweyzeph]

Whenever I see articles like this, I always wonder where do they get this information from? Most wealthy people are very private about the extent of their wealth so these inequality reports should really be taken with a healthy pinch of salt. They are nothing more than guesses.

 

[B-1]

So have we concluded that south africa is unable to create any more wealth and can only sustain 20% of its actual population?

 

[Sepeng]

I initially read wealth as weather and I was like damn, now they owning our weather too!
Wouldn't surprise me to be honest.

 

[Paul_S]

What a pointless comparison. We have millions of people sitting in rural areas not being productive and earning their own wealth. That would go a long way to reducing the inequality. It is not the fault of rich people but rather the anti-business, anti-investor policies being shoved down our throats by the ANC.

Very few people including locals want to invest in businesses in South Africa. These articles make it seem as if the rich are oppressing the poor which is not the case unless one is referring to rich politicians.

 

[WollieVerstege]

Whenever I see articles like this, I always wonder where do they get this information from? Most wealthy people are very private about the extent of their wealth so these inequality reports should really be taken with a healthy pinch of salt. They are nothing more than guesses.

It is derived from publicly available information such as holdings in the stock market etc.

 

[370z]

This is how much of South Africa’s wealth is in the hands of the super rich

South Africa's wealth is concentrated at the top.

"Billionaire fortunes have increased by $2.7 billion a day"

Don't think this is correct

 

[LCBXX]

Whenever I see articles like this, I always wonder where do they get this information from? Most wealthy people are very private about the extent of their wealth so these inequality reports should really be taken with a healthy pinch of salt. They are nothing more than guesses.

Insights like this seems to be readily available but to catch those busy committing fraud seems to be "impossible".

I asked the same when all the articles on Black Friday spenders was published.

I reckon the Banks, Processing and related institutions are complicit in enabling fraud & corruption.

 

[ShaunSA]

Insights like this seems to be readily available but to catch those busy committing fraud seems to be "impossible".

I asked the same when all the articles on Black Friday spenders was published.

I reckon the Banks, Processing and related institutions are complicit in enabling fraud & corruption.

Of course they are. Which is why 5 mill can be transfered without any issues to some scammer and suddenly no-one knows who has the money and how to get it back

 

[etienne_marais]

Irony is the Capitalist system is being blamed for this while the dynamics of (TM) True Capitalism is not at play. True Capitalism allows for vehement competition and requires small and SME to be able to gain a foothold and flourish. Instead large and mega corporations have taken over (locally and in U.S.) which is a filthy corporate system which does not stimulate small/SME and entrepreneurship.

In the meantime Klaus Schwab and his WEF are calling for an end to shareholder economics and replace it by Stakeholder Capitalism where these megacorporations own everything and make decisions for humanity.

 

[konfab]

"Billionaire fortunes have increased by $2.7 billion a day"

Don't think this is correct

Leftists: lets print off billions of dollars.
Rich people: buy assets that are hedged against inflation
Leftists:

 

[now05ster]

Don't be concerned, our government is working hard to make us plebeians all equally poor.

 

[deweyzeph]

It is derived from publicly available information such as holdings in the stock market etc.

In theory this is publicly available information, but in practice not so much. And for private companies not listed on the exchange it is impossible to get any shareholder information, not even CIPC keeps a record of who the shareholders are of a private company. This is one of the items that the FAFT has highlighted in their threat to greylist South Africa and it is also one of the changes coming in to the Companies Act.

 

[WollieVerstege]

In theory this is publicly available information, but in practice not so much. And for private companies not listed on the exchange it is impossible to get any shareholder information, not even CIPC keeps a record of who the shareholders are of a private company. This is one of the items that the FAFT has highlighted in their threat to greylist South Africa and it is also one of the changes coming in to the Companies Act.

You can literally call up any public traded company and ask them for a list of their shareholders. Requires some legwork, but it can be done. There are actually people who make their careers out of tracking down this type of information.
As for private companies, yes, the shareholders are not public known, but then again a general estimation of their size and who might own the company can easily be derived from various other sources. There is a lot of information that companies must divulge these days under various legal requirements. Fundamentally though, private companies make up a tiny percentage of wealth.

 

[justplain]

I keep hearing there are so few people with wealth.
Perhaps we need less people....then more of the remaining people would be more wealthy?
#crazythinking