BCG told BusinessTech that its data showed that South Africa had 22,700 millionaire households in 2016, placing it 53rd out of 98 countries in its report.
A new report from the Boston Consulting Group finds that globally, almost 18 million households control more than $1 million in wealth.
There were 17.9 million households with more than $1 million in private wealth in 2016, up 8% from the total of 16.6 millionaires in 2015.
According to BCG, the world’s millionaires, who represent the top 1% of the population, own as much as 45% of the $167 trillion in total personal wealth in the world, up from 44% in 2015.
The US is home to the most millionaire households – seven million – far more than second ranked China, with 2.1 million.