12:26 PM
Tuesday 24 May 2022
I wrote – Yasmine Selim:
The number of Egyptians with more than $1 million “millionaires” stands at 16.9 thousand, according to a recent report from Henley & Partners on Wealth in Africa for 2022.
Egypt is the second richest country in Africa in terms of private wealth, with a wealth estimated by the report at 307 billion dollars.
The report divides the number of rich people in Egypt into 4 categories. The first category is the one who owns a fortune of more than one million dollars, numbering 16.9 thousand people, and the second category who owns more than 10 million dollars, who are the “multi millionaires”, numbering 880 people.
The number of Egyptians who own more than $100 million is 57, while the number of Egyptians who own more than $1 billion or “billionaires” is 7 people.
Egypt has the largest number of billionaires in Africa.
The report indicates that the total wealth in Egypt decreased by 23% during the last 10 years, which is the period from (2010 to 2021).
South Africa comes as the richest country in Africa in terms of private wealth, with a fortune estimated by the report at $651 billion, then Egypt, and following them Nigeria, with a fortune of $228 billion.
