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South Africa’s wealth exodus: billionaires are leaving | SA News

South Africa is witnessing a significant exodus of high net worth individuals (HNWIs) in what may serve as an alarming wake-up call for economic policymakers.

The latest report from Henley & Partners indicates that the nation is a net loser in the ongoing global migration of wealth, with around 250 dollar millionaires departing the country in the last year alone, taking an estimated $1.6 billion (approximately R28 billion) with them.

The report highlights a worrying trend: the population of dollar millionaires in South Africa has decreased by a staggering 12% over the past decade, as firstly shared by Business Tech.

In 2014, the number of HNWIs stood at approximately 46,800. By…

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