ROB ROSE: South Africa’s dollar millionaires hit the eject button
Those with the means are packing for Perth — and for Portland, Portsmouth and Portugal
Suddenly, it’s all getting rather real. Reports in recent days have confirmed what many suspected: South Africa’s dicey economic prospects, intermittent blackouts and the prospect of water-shedding have combined to push people to the exit.
For starters, there’s the Africa Wealth Report, published by Henley & Partners and New World Wealth, which reveals that the number of high net worth South Africans with more than $1m in “investable wealth” had fallen by 690 in the past year to 37,800, mostly due to emigration. Over one year, that’s a fall of 1.8%, but over a decade, the number of local dollar millionaires has fallen 21%...
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