Wits is the top university among SA multi-millionaires – but UCT is hot on its heels

Business Insider SA
The University of the Witwatersrand
  • A new study about SA's dollar millionaires shows that more than half of them either graduated from Wits, UCT or the University of Stellenbosch.
  • Some 22% went to Wits, compared to 19% who went to UCT.
  • Unisa (10%) beat the University of Pretoria (6%).

More than a fifth of South Africa’s dollar millionaires went to the University of the Witwatersrand, according to a new report.

The AfrAsia Bank South Africa Wealth Report was released on Thursday, and covers wealth trends in South Africa. The report showed that there were 43,600 South Africans with net assets of more than $1 million (R11.9 million) and 2,200 with net assets of more than $10 million (R119 million).

Of these dollar millionaires, 22% attended the University of Witwatersrand, according to the report. The University of Cape Town (with 19%) is close on its heels, with the University of Stellenbosch in third place. More than half of SA's dollar millionaires went to one of these three universities.

See also: Almost a third of South Africa's dollar millionaires studied law, a new report says

Unisa (10%) beat the University of Pretoria (6%).

The study only looks at the last university that the person attended, which could skew the data towards postgraduate courses.

Wits has been in the news recently, with the Associated Press – the world’s largest news agency – describing it as the closest real-life alternative to the mythical city of Wakanda. The university also received the highest place of South Africa’s tertiary institutions in the latest Academic Ranking of World Universities. It was rated as one of the top 300 universities in the world.

See also: There are now 3,200 dollar millionaires living in Paarl, Franschhoek & Stellenbosch

However, UCT was the only South African institution that was rated among the top 200 universities in the Times Higher Education World University Rankings. It was placed in the 171th position.

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