How the wealthiest became wealthy: Risky investments, not inheritance
The wealthiest individuals in society are not simply saving – the key is in risky investments, not inheritance.
The wealthiest individuals in society are not simply saving – the key is in risky investments, not inheritance.
The rich can buy protection for their property. The poor are doomed to destitution without private property rights and free markets.
Being a US Dollar millionaire is still special. There are approximately 125,000 millionaires in Africa, each with net assets of US$1 million or more.
SA is home to over twice as many millionaires as any other African country. Despite this, the total private wealth held in the country declined by 25% between 2010 and 2020.
The South African government resisted implementing a wealth tax, but its new unit aimed at nailing rich tax dodgers may encourage some to emigrate.
While the finances of millions were smashed last year, the rich grew ever wealthier, writes BizNews founder Alec Hogg.
Quantitative easing will become appropriate when interest rates are at the zero lower bound and there is deflation risk, Kganyago is reported as saying.
New Zealand is now selling the rights to live, work and study in the Covid-free haven. It will only cost you R30m-plus.
Too rich for debt relief available to most African nations and hobbled by its politics, South Africa is facing a public financing crisis.
According to business rescue practitioner Les Matuson, there is a reasonable chance that South African Airways (SAA) can be saved from collapse.