Almost a third of South Africa's dollar millionaires studied law, a new report says
- A new report found that 12,208 (28%) of South Africa's 43,600 dollar millionaires studied law.
- 9,156 (21%) studied finance and economics, 5,232 (12%) accounting and 2,616 (6%) studied computer and sciences.
- Only 68% of millionaires have undergraduate degrees.
Roughly a third of South Africa's dollar millionaires studies law, a new report by AfrAsia Bank and New World Wealth says.
The South Africa Wealth Report, released on Thursday, found that South Africa has 43,600 dollar millionaires, defined as individuals with assets worth more than R11.9 million, based on current exchange rates.
Of the 43 600, 28% studied law. 21% studied finance and economics, and 12% studied accounting.
Computer sciences came in at 6%, and medicine or engineering at 4%.
Some 3% of SA's dollar millionaires, or 1,308 in total, studied actuarial science. But 68% of millionaires only have undergraduate degrees.
27% of the total number have a postgraduate degree – but 5% have only a high school qualification.
The report also found that the country has 2 200 multi-dollar-millionaires with assets of more than $10 million, or just shy of R120 million, plus five dollar billionaires, worth a little shy of R12 billion
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