{"id":4311,"date":"2013-04-24T06:17:34","date_gmt":"2013-04-24T06:17:34","guid":{"rendered":"http:\/\/praag.org\/?p=4311"},"modified":"2013-04-24T06:17:34","modified_gmt":"2013-04-24T06:17:34","slug":"wealthy-south-africans-are-company-employees","status":"publish","type":"post","link":"https:\/\/praag.org\/?p=4311","title":{"rendered":"Wealthy South Africans are company employees"},"content":{"rendered":"

\"\"<\/a>Though South Africa has provinces full of poor people, and cities teeming with middle-class consumers, we can at least fill a World Cup soccer venue with our wealthy compatriots.<\/p>\n

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If you take all the households that earn more than R100000 a month, you would just about fill Soccer City, according to the TopEnd 2013 Survey, released by Ramsay Media Research Solutions.<\/p>\n

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And of the country’s 80000 most- affluent individuals, more than a third have a household income upwards of R200000 a month, according to the survey.<\/p>\n

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The top 10% have a monthly household income of R500000 or more.<\/p>\n

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The data shows that there are almost seven white millionaires for every black one, according to Alan Todd, a partner at RMRS. But that, he said, is changing, with black millionaires gaining ground.<\/p>\n

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“The fact that 70% of millionaires feel they are much better off now than they were five years ago speaks volumes for the onward and upward march of South Africa’s most affluent consumers.”<\/p>\n

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The Bureau of Market Research last week released its household wealth index, which showed that the economic recession of 2008 was still ringing in the average household’s ears.<\/p>\n

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“Households have lost five years of wealth, which might force some of them to postpone their retirement and\/or start saving more,” read the report.<\/p>\n

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The bureau said, with the high inequality in South Africa, “chances are good that some households possess high net wealth values, while the majority possess net wealth values significantly lower”.<\/p>\n

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The Top End Survey reveals that as many as 73% of the country’s wealthy are company employees, while 20% are self-employed.<\/p>\n

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Four out of 10 have some sort of sideline income to add to the spoils of their corporate jobs, with 59% earning a monthly income from their investments. – timeslive.co.za<\/p>\n","protected":false},"excerpt":{"rendered":"

Though South Africa has provinces full of poor people, and cities teeming with middle-class consumers, we can at least fill a World Cup soccer venue with our wealthy compatriots. If you take all the households that earn more than R100000 a month, you would just about fill Soccer City, according to the TopEnd 2013 Survey, … Continue reading “Wealthy South Africans are company employees”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":4312,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[2697,12250,2699,2698],"class_list":["post-4311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-south-africa","tag-corporations","tag-south-africa","tag-topend-2013-survey","tag-wealth"],"cc_featured_image_caption":{"caption_text":false,"source_text":false,"source_url":false},"jetpack_featured_media_url":"https:\/\/praag.org\/wp-content\/uploads\/2013\/04\/luxurysa.jpg","_links":{"self":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/4311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4311"}],"version-history":[{"count":2,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/4311\/revisions"}],"predecessor-version":[{"id":4314,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/posts\/4311\/revisions\/4314"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=\/wp\/v2\/media\/4312"}],"wp:attachment":[{"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/praag.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}