SOUTH AFRICA'S 1% INCOME MILLIONAIRES: WHAT THEY DO? WHERE THEY LIVE? HOW THEY MADE IT?

Over 500K South Africans earn over R1 million every year. In fact this figure represents 6.7% of the country’s 7.4 million registered taxpayers South Africa is without a doubt an economic powerhouse, yes it doesn’t feel like that on the ground right now but we remain a key hub for wealth in Africa and a money generator, despite us facing all the known economic challenges. Then over the past decade SA has seen a noticeable decline in its ultra-wealthy residents– to be factual, we’ve lost over 11,000 individuals with assets exceeding $1 million (roughly R18-19 million) – but something else happened because there’s a contrasting positive trend at the R1m+ level. The number of South Africans earning over R1 million per year has and is growing significantly. When looking at more recent tax data, what it shows is that nearly 570,000 people reached the R1m+ income level in the 2025/26 financial tax year, a healthy increase of almost 79,000 from the year before. Now what all of this data suggests is that there is resilience and growth within the upper-income bracket. Actually while we are here.. I have an interesting but unofficial alternate view as well, I feel that these income and tax numbers are still a little skewed, you see a lot of small businesses owners and UHNWI actually don’t actually earn an income they earn with dividends. Basically a share of profits to those who own the shares. In south Africa for your PIT you are taxed at the rate of 41% if you earn between 857K - 1,8m and thereafter its 45% tax. If these were dividends.. then you would only pay only about 20%.. so many owners pay themselves less actual income and pay dividends 2-4 times a year. SO there could be waaaay more SAn millionaires. Music Credits: ► Music Credit: Artificial.Music Track Name: "oceanic space [short edit]" Music By: Artificial Music @ / artificial-music YT Channel HERE: / smarttoaster Original upload HERE - / oceans License for commercial use: Creative Commons Attribution 3.0 Unported (CC BY 3.0) License. Full License HERE - https://www.instagram.com/reel/DBJfsV.... Music promoted by NCM https://goo.gl/fh3rEJ ––– ♪♫ FREE DOWNLOAD ♫♪ ––– ► DOWNLOAD this track HERE - https://www.chilloutrecordsmusic.com/ [Non-Copyrighted Music] Chill Jazzy Lofi H... ♪ ♪ Biscuit (Prod. by Lukrembo) Link : lukrembo - biscuit Track: September Rain - Yme Fresh Music provided by Verde Música Studio Watch: 🎧 BACKGROUND Music for VLOGS while TALKING... Track: September - Not the King Music provided by Verde Música Studio Watch: 🎧 BACKGROUND Music for VLOGS while TALKING... New Dawn Royalty Free Music by Benjamin Tissot Music I use: Bensound.com License code: 2471 MABJR3C62MG8 https://open.spotify.com/track/6q5VUr... / new-dawn-single – Apple Music AppleMusic: new-dawn-single • Bensound: "New Dawn" https://music.amazon.in/albums/B07RWH... https://deezer.page.link/pahUbCAequ15... Verde Musica Studio Background Music For Vlogs while Talking 🎧 BACKGROUND Music for VLOGS while TALKING... PopVibes Ocean Space – Artificial.Music Oceanic space🌊 – Artificial.Music🐠 | (No C... BreakingCopyright Artificial.Music – And So It Begins [No Copyright Music] Artificial.Music - An... LuKremBo Lofi type beat “Biscuit” lukrembo - biscuit Mystery Piano Background Music For Films & Documentaries (Free Download) | End Game 🎵 Download this track to use in your videos: https://lvkehouse.com/trial ✅ All content you publish during a free trial will stay cleared forever. ► Composer: Donovan Jarvis ► Photographer: Erik Witsoe