This means that the country’s wealthiest 1% hold more of the money than ever before.
In 2021, this is an estimated $763 billion.
The report explained that as compared to 2019, this is a significant increase.
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The 1% is about 376 000 people which is based on the last census of 37.6 million adults.
The 1% controls around $311 billion of the country’s total wealth.
This around $828 000 per individual.
The richest 1% in the country hold the highest amount of money with 41% being the figure. Image: StockSource: Getty Images
BusinessTechreported that the inequality of wealth is higher than ever.
Wealth inequality is high in all countries, however, certain companies have a higher difference than others.
This is according to a statement by Statistics South Africa on its website.
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Source: Briefly News
Reeshni ChettyReeshni Chetty is a senior current affairs reporter.
Reeshni has a passion for breaking the stigma surrounding mental health issues.
