Super-rich South Africans' money leaving the country

If the super-rich are not leaving South Africa, their money is.
That's according to the findings of the latest Frank Knight Report,
which shows that the country lost 11-dollar millionaires over the past
12 months.
Meanwhile, the latest BRICS Wealth Report has revealed that two out of
every 10 wealthy individuals have left SA in the past decade.
As Ntokozo Khumalo reports, experts say this raises concern.
Tune into Newzroom Afrika DStv channel 405 for more.

[@DelaneyGilfillan]

You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

[@juanppacheco93]

Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.

[@Annn1872]

I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.

[@jeisson_acosta12]

How ..? Am a newbie in crypto investment, please can you guide me through on how you made profit?

[@EdinumGreat]

Thanks to Mrs Maria Davis.

[@EdinumGreat]

She's a licensed broker here in the states

[@douglasbullet6456]

As an unemployed black south african I don't blame them for leaving. If I had enough money I would leave too

[@sindiso_ndlovu]

It's not black people who are leaving but whites, have wondered why?

[@SirRyan31]

Where to ?

[@mbonisenimutaheli1204]

lol taking your money to? USA? Lol

[@gtxchufxvj]

I agree with you brother and they know exactly where to leave too, they have top advisors.

[@douglasbullet6456]

@SirRyan31 Well considering that a nuclear war might start in the northern hemisphere I would go to either New Zealand or Australia

[@Ginger4789]

No sensible human being would invest in a corrupt government 😢😢😢😢

[@icno3508]

Because your country is full of communist sympathizers 👍

[@yesicanfixit4842]

If ANC officials weren't stealing the tax revenue and were, instead, putting it into infrastructure and services, SA's millionaires wouldn't be leaving, in my opinion.

[@lemmahmdodana5301]

How are they helping? The millionaires????

[@Enoch940]

@@lemmahmdodana5301 millioner is the peeples thet start big busnesses and give many job and pay many tax. Very bad they hamba for us.

[@kamarikucheza]

​@@Enoch940 your English is eating buns.

[@allananderson949]

​@@lemmahmdodana5301 They buy products and hire people

[@RosslynR]

IT TAKES THE POORLY EDUCATED TO NOT KNOW HOW FUNDS ARE MOVED! It's no big secret that the Oppenheimer Group own and control the South African Reserve Bank, which founded the ZAR currency with investments from the UK Tories which is Anglo American Group, after the Anglo Boer War. The Oppenheimer Group listed South African Inc. as asset portfolios on international exchanges with the ZAR currency tied to the economic hitman currency US dollar that keep South Africans in trillions of debt, which is why SOUTH AFRICA'S TAXES GO TO INTERNATIONAL INVESTORS. Your BILLIONAIRE Oppenheimer Group's investment headquarters is in New York with a sub-office in Hong Kong, and THAT'S HOW FUNDS ARE MOVED!. * A DEMOCRATIC GOVERNMENT SYSTEM IS WHERE FINANCIAL CORPERATIONS CONTROL ECONOMIES LIKE DONE IN THE UNITED STATES THAT PLACED AMERICANS IN AN OVER $30 TRILLION FEDERAL DEBT!

[@brunoragghianti6963]

Collapsing infrastructure, ridiculous price increases, rampant crime ..... Sars constantly threatening taxpayers.....they've all left .. that's why applications have slowed down. All credit to the cANCer

[@johanviljoen8675]

The cANCer, very good.

[@sp123]

Sounds like America

[@jimbouchilon389]

That's the main reason why even Africans leave Africa. To look for better sources of income otherwise Africa is by far the best continent to live if you have money to sustain your life style. Organic food, good people, beautiful weather, less taxes, more social life as opposed to working all the time like in the US, peace of mind etc. The list goes on and on. But bottom line is you need to have a stable income just to sustain an average life style, I pray that anyone who reads this will be successful in life too 🙏🙏🙏🙏

[@Jameshenry-gu1fi]

That's true, there is never any culture of wealth gathering or wealth creation to keep multiplying your finance that lacks an investment value Instead of saving money in the bank independently of where you are now . This means, if you want to be successful you must be an investor, that's why Investment stands to be the best, especially at this moment

[@perefeghaandrew8076]

you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.

[@johnalex4006]

People should remember: poverty is not an accident, a coincidence or an inevitability. It is something which is manufactured by the step or action we takes.

[@Soboj-oy8me]

I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.

[@JosiahHelloy]

Starting early is the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, i am able to build a suitable life because I invested early ahead this time

[@dadlymenzi4993]

The amount of money SARS is sucking out of South Africans is ridiculous. I don't blame anyone for leaving this countr.The is no justification for the percentage of tax we are paying in SA. There is nothing that justifies that this money is used for the betterment of life in the country. Roads and infrastructure in our cities are in decay.

[@morolong7733]

So you think they don’t pay tax in US OR UK?

[@dadlymenzi4993]

@@morolong7733 You don't know what I think though. I am talking about 'us' South Africans.

[@allananderson949]

​@@morolong7733 Whoosh 😅

[@amaliacoria3063]

@@morolong7733 actually they don't, the rich millionares and their coorporations live on the high hog. the rest of the population down to the dirty poor are the ones paying the most on taxes and to keep the country from failure. Even though that's where it's going. Wonder why they can't pass a bill that taxes more wealthier people and coorporations? Because they all are on the seats in the white house and they don't want to fork out one penny to the country they live in, they only like that fact that they are making money off of us, to do nothing, but lie to us, mismanage the finances and enrich themselves.

[@WarrenGaum]

We have taken our money out of the country. Just trying to offload one business and a house and we are out of here. Permanently. South Africa has turned into a shit hole thanks to the ANC.

[@28stretch]

Don't let the door hit ya 😂😂

[@WarrenGaum]

@@28stretch we can't wait to leave and live without crime corruption load shedding water shedding pot holes polluted rivers and a currency that every year just becomes more worthless.

[@lm_b5080]

@@28stretch keep voting for the ANC or EFF brother..they'll make sure white people keep leaving. I'd rather live in SA if it turns into Zimbabwe, at least it will look more like the rest of Africa

[@africatshipembe9623]

minus one problem, please never set foot encourage others to stop cape independence and go home. Berlin conference was a mess for our continent. tell Phil Craig and Jack Miller to do the same.

[@philipkoekemoer4705]

Its going to hit you in the face as they leave , doos​@28stretch

[@dorothybrits8875]

It is no laughing matter. The people staying in SA are left to pay more on tax, water & electricity which we do not have. The government needs to sort things out and start collecting all the money that has been stolen through corruption. If the ordinary SA citizen steals he is arrested and goes to jail. When corrupt officials steal they get suspended indefinitely with pay and never need to pay back what they stole. They are also moving the money out of the country. We will be a wealthy country if all the millions and billions stolen is taken back. Make an example of one!!

[@AndrewMcFarlane_1]

I agree. What's sad however is that most wealthy people are basically being defeated by the communist ANC.. one would think they would be smarter than a bunch of criminals

[@LuxuryArchived]

Wake up people, this is happening all over the world, there's no safe place to run to. The only thing we can be certain of is the fact that the world is heading into WW3 and everyone is going to suffer. When WW3 is over the world will have been depopulated by over 50%

[@georgepresley5120]

Seems like it's an African problem.we are experiencing the same in Kenya.Astonishingly the corrupt leaders are democratically elected in a fair election.I see no hope in Africa

[@AndrewMcFarlane_1]

@@georgepresley5120 same in Nigeria. The number of educated applying to leave is astounding

[@UnitedLoyalist]

The problem with collecting all monies stolen through corruption is this, It has already lost value via inflation, that money wasn't just stolen it is most like blown, zero growth or in offshore accounts. That money will not fix the problems many African countries are facing as a result. Adjusting for inflation, losses through tax evasion and fraud - A-LOOTA'S - and etc, we should be looking at a percentage closer to that of the decline of the Zim dollar since the late 1990's, it's massive, because reinvesting in the infrastructure, economy to stimulate jobs, etc will not be a gradual slope, but steep. Imagine, upgrading a generator would have been 100 million now a new 1 will cost you north of a couple billion. 1 solution, get rid of the current leadership, their so called comrades, remove their families from any positions they hold through connections, nepotism and corruption. Just as they claim their forefathers fought the whites "apparent enemy", they failed to understand that it wasn't about the whites, but the systems that were in place. These criminals were not fighting to fix the system, they fraught in the name of racism/apartheid, to remove the beneficiaries of said system so they themselves could continue the looting - CONTINUA A-LUTA Today we get wet and horny when a failed politician cries and blames the whites, it just shows how stupid they are, us also, for thinking it is the people. Remember, these fools are not loyal to you and I, they are LOYAL to the system. CONTINUA-LOOTA"

[@phumiphumi2041]

It's really bad! Few of my clients stopped investing in south africa.

[@bryanmcdougall6973]

When you get blamed for apartheid yet weren't born, it's not unrealistic to take your business elsewhere.

[@Gdiba-zt2br]

Doesn't matter tht you weren't born you have benefited from apartheid your entire life even now

[@thabisothejane5328]

You may have not been born yet but your ancestors benefitted from it. No matter how much you would say you hard worked for everything or anything that you currently own or have achieved. You didn't really start from NOTHING nothing. Black people were born into poor families resulting them to work extra hard to get where they are. Inequality is really bad, go to the townships you'll see the conditions that people are living in. If we want to see an equal South Africa without using Apartheid as an excuse, let the land be shared equally amongst everyone. I believe that will give us an equal opportunity and there won't be room for excuses. I always say those who are not affected by race are the ones who do not want to talk about it. Yes the ANC has failed everyone, many of us do admit it, let's hear you guys admit that there's too much land equality.

[@bryanmcdougall6973]

@@thabisothejane5328 I don't think anybody has an issue of sharing land. I don't own land since I can't afford it. My ancestors didn't have slaves or treat anyone unfairly. We are a non political family and want to work for our money and live in peace. South Africa is diverse but our politicians divide us using race and class systems. I don't care if you black or white. I care about crime been a problem and politicians forcing BEE and making everything about race. Im blamed for the color of my skin. Don't you think that is racist?

[@thabisothejane5328]

@@bryanmcdougall6973 I would suggest that you do a serious follow up on South Africa's current matters because you seem to be either ignorant or just clueless. You find a white individual(1) that inherited 25 farms from his family. The minority, the boer, are not willing to share the land because they claim that they've spent their time and effort in making what that land is today. That's why white people don't want to hear the idea of the EFF ruling the country, it's because Julius Malema said one of the things he'd do once he becomes president is that he'd share the land amongst South Africans equally and also nationalize all the mines and banks, meaning they'll belong to government. They've promised to die fighting than giving up on "their" land. White people don't like the idea of being equal with black people, because they see themselves as superiors. I'm not making this up, it's everywhere on the internet. Google it and search for videos on KZbin. And you can't really say that your family didn't treat anyone unfairly because you clearly stated that you weren't born yet, at this point you contradicting yourself. And let's suppose they told you that, what evidence would back up that statement? You could be saying that for the sake of the argument. Like I said it's about race, unless you're not affected by race. The sad truth is South Africa's economy is built on race due to colonism and apartheid, and unfortunately the only way to reverse it and include the previously disadvantaged in our economy, it has to be about race. I've never heard a group of white people complain or stand for equality, but all I've heard is complaints about BEE because they're affected about it. We, black people, don't want BEE too but land so that we can benefit from the natural resources that comes with land and become our own bosses and not be hired by a white individual who treated us unfairly at work. But because the minority is not willing to give up land, we(some) settle for BEE.

[@rredington305]

Anyone will want to live in a country where their return on tax paid is building an economy. But in SA all our tax money gets looted and the economy is crashing. Thank you ANC and BEE.

[@thescoopworldwide]

What's wrong with BEE? I wonder if you Complained about WEE or apartheid.

[@rredington305]

​@thescoopworldwide I've been paying tax before you were just a thought. I've seen how BEE has been wrecking the economy due to lack of skill and 'not my job' and 'im on lunch break' and just plain arrogance.

[@janni3dutoit]

Since our immigration end of 2016 we have paid R8.05M in taxes to a well deserved Australian government. Money well spent.

[@MuzorewaRatshikuni]

Jannie, jy het niks met SA uit te waai nie. Why are you commenting here. Get on with your Australian life dude! You have made your choice. It amazes why SA expats jist can't leave SA alone. Or are you regretting your decision? Or are you trying to make the rest of us who remain in SA jealous of you? Well, we're not. Australia is a nice place. I spent some time in Rockhampton, Queensland. Now leave us the heck alone!

[@janni3dutoit]

@@MuzorewaRatshikuni julle sprinkane vreet net. I used to pay tax and employ people in SA and all I received for it was neglect. Neglected power, water, roads, safety and jobs. All because of the policies and believes of the masses of sprinkane (Jean de la Fontaine) that consumes but cannot contribute. Your thinking will cause your own people starvation, it is inevitable Mr Ratshikuni. We expats care more for South Africa than the ones who have been practising reverse racists policies for the lats 30 years. Die skrof is teen die muur, dit is julle laaste uur.

[@mbakunkasa3784]

They are not running their businesses profitably due to load shedding .

[@t.m8370]

I understand. Not even the super rich, also ordinary South Africans are fed up. I mean, imagine having nearly half of what you make/earn taken away by tax and you still have to deal with these stupid municipal rates. Aren't tax payers supposed to get free water and electricity? Paying tax and the roads are infested with potholes. Paying tax but for some reason municipalities are forever unable to cut the grass on the side of the road. Paying tax and you still pay VAT on every single item you buy. Pay tax then you're told that you're going into Stage 6 Loadshedding

[@carolinafrancisco7662]

In 2024,don't set new year financial goals without consulting a financial adviser.there expertise ensure a solid plan for success.Building wealth involves developing good habits like regular putting money away in intervals for solid investments.

[@dawnmartin472]

Thanks for the advice! I'm new to financial planning and wasn't sure where to start.Any tips on finding a reliable financial adviser or resource to guide beginners?

[@juliusmcdowell4107]

I agree, based on personal experience working with an investment advisor, I currently have $650k in a well diversified portfolio, that has experienced exponential growth. It is not about having money to invest in stocks,but also you need to be knowledgeable, persistent,and have strong hands to back it up.

[@Jayollison722]

How can I participate in this?I sincerely aspire to establish a secure financial future and am eager to participate.who is the driving force behind your success?.

[@juliusmcdowell4107]

Marie Ann Treloar

[@juliusmcdowell4107]

She has been my counselor and coach.

[@Tshepo10111]

Corruption; For example that Mamkhize of yours opening a club that is sponsored by Ethekwini municipality, while eThekwini municipality workers are complaining about low salaries, And Sassa employees selling sassa cards to foreigners, How can our tax decrease?

[@unathimichaelmxaku8105]

But we still blame the goverment for everything we also need to take responsibility for actions.

[@clownbooface2624]

Yeah sassa is a huge problem, Bg fraud but also big amount of legit users, small heavily taxed working base, it wont last is gonna cripple economy

[@stevens3174]

Last one leaving need not switch off the lights - ESKOM already handling that bit.

[@Impiloiscam]

It's the fact we haven't had loadshedding since the Eaters. And we know they're doing that because elections are close.

[@Impiloiscam]

It's the fact we haven't had loadshedding since the Eaters. And we know they're doing that because elections are close.

[@ppp0911]

😂😂😂

[@davisdesigns1153]

Give people the services they pay for and support small business instead of finding more ways to punish them

[@ayandasibiya5953]

In this country we have 7 Million tax layers money. In the 7 Million, majority want to leave this country. Meaning less people will pay for tax. On top of that we have 50 million people who aren't contributing, let alone the illegal foreign nationals flocking into our borders. Which were called by Julius Malema

[@Ritesh-yy1zr]

Yep we have to cloth and feed them.

[@khanyi_zulu]

I don't blame them 😐 I'm moving to Mauritius too as soon as I get rich if things don't change for the better in this country!

[@za_cpt]

All the best. But you must leave quietly. None of us are going to care if you leave or stay 🇿🇦❤️

[@simba8665]

They don't like black people there. If you think South Africa is racist, wait until you visit Mauritius. The grass is always greener on the other side.

[@Ginger4789]

Wise decision 😮😮😮😮

[@bhekinkosi2602]

Malema want Nigerians to stay than people who pay taxis😢 confused leaders

[@tebugomajombozi1197]

I was about to say. U dom umalema

[@khaltsharivist365]

You are sniffing in the wrong place. Malema is not in government, his party has 11% of the vote so can’t block or enact anything. Capital flight has been a perennial issue in South Africa post apartheid. After the global financial crisis of 2007/08 there was disinvestment in brick and mortar businesses and increase in equity and bond markets. Post election when there is policy clarity some of that speculative cash will return. That is why they are keeping fungible assets instead of investing in factories etc. In any event the high net worth people have political parties in their back pocket to rig the system so that they don’t pay fair share of taxes, depending on how generous they want to be they can make a donation. When things go pear shaped they are the first in line for bailouts, when it’s time to pay taxes they want tax cuts. They like corporate socialism a lot.

[@Tshepo10111]

@@khaltsharivist365 Malema contribute in spooking investors, With Strikes and costing the government 116 million/more for security, After he told the businesses owners 'I held you by your scr*tum'.

[@bhekinkosi2602]

Malema want white people to leave the country but Nigerians and other's who destroy SA must stay, I'm talking about EFF policies

[@laurie7-mo5gk]

Malema is a confused boy he will allow ISSiS free in this country and I would like him to tell us how will he will control isi ISiS this young man?

[@ndwandwewasendwedwe7964]

Thieves will never leave a place where they steal freely

[@KoketsoR7]

Facts they just running thier operations from a distance.

[@ndwandwewasendwedwe7964]

@@pleaseandthankyou4161 One day you call the ANC stupid one day they're rich. Say one thing Settler Colonialist, how can "stupid" people be rich? The ANC is not the face wealth, come on they are black. They are just drunk from the crumbs your rich, wealthy and arrogant race buy them with

[@africatshipembe9623]

@@pleaseandthankyou4161 No we talking about the white criminals some of whom were benefitting from SteinHof defrauding PIC which's pensioners money.

[@andrewswales1042]

Stupid bee

[@not.likely]

Current day SA is an abortion

[@africatshipembe9623]

They are not leaving South Africa but changing address, bank accounts and base location, they are not moving their operations somewhere else. they not giving up their SA citizenship!! Please let them tell us if they are also moving their companies too. we tired of being scammed by the "rich/investors" and media. they still want to continue making money here. scammers in South Africa include the rich or investors, including foreign ones

[@unathimichaelmxaku8105]

100% agree

[@AndrewMcFarlane_1]

Shows how ignorant the avergae ANC voter is

[@africatshipembe9623]

@@AndrewMcFarlane_1 nah with the events and data at our disposal not believing skin pigmentation can offer some intelligence, it shows intelligence and being smart to see what real crooks are doing, as matter of fact we know your like highest qualification is matric hence the lack substance in ur reasoning but always hauling as you believe every person against your inherent evil norm is average.

[@GwejMedia]

So true, for those that know, they are only moving their tax residency for tax purposes. most still live in SA

[@nicopheiffer9793]

Yet the ANC goes with their begging bowl looking for investors in Western countries . Do you understand how economics works ?

[@phumzilensele302]

Why should south africans finance Poor neorbouring countries who are allowed by anc and EFF to come here

[@MrLechesa]

EFF is in power already??

[@theblackgods4699]

They shouldn't defend you boarders don't blame the immigrants for taking an open opportunity

[@za_cpt]

We are voting for the EFF on 29 May 2024 🇵🇸❤️✊🏾

[@boffin5235]

@@za_cpt You love suffering...🤣

[@za_cpt]

@@boffin5235 yes I do. Thank you. Respect our choices of suffering

[@steppamanjroy9886]

The taxes are the problem SARS is the problem we pay too much taxes

[@elduderino3236]

SA's only shot is to vote ANC out. If not, forget it, there's no chance.

[@Ritesh-yy1zr]

Yeah we pretty much f'd. Basically from '94 already

[@za_cpt]

But we are not voting for the DA. Remember that. We can vote the ANC out but not DA nana. Racism is too much.

[@elduderino3236]

@@za_cpt Well, then enjoy watching your country continue it's decline in utter ruin.

[@MfanafuthiBhengu]

DA or not racism will never die

[@MfanafuthiBhengu]

Let's give youth a chance to lead this country or white president 😢

[@0i0_himself]

Tax us to provide free things for the lazy.... streets are dirty the water is dirty people don't even want to work at farms because of this free money thing.

[@Ritesh-yy1zr]

It's literally a shit show

[@truth9435]

The sad part is that so many south africans still believe in this government 😢..

[@caribbeanradiology7004]

They need to believe in themselves instead of looking for a government handout

[@aungmyintoo4635]

They should vote EFF as a replacement of ANC. I believe Malema will bring South Africa to prosperity and modernization.

[@lamandhbbf3639]

@@aungmyintoo4635😂😂😂 good joke

[@calvinpurdy2668]

As these people and their money leave, the tax base gets thinner and thinner. Soon there just won't be enough tax collection to feed the millions of unproductive grant recipients let alone repairs to infrastructure. It's then when the shit is going to hit the fan. In my opinion, the situation is hopeless. So glad that I left when I did.

[@brunoklynsmith9169]

At R19.00 TO THE DOLLAR IT MIGHT SEEM UNWISE TO SHIFT MONEY OFFSHORE. But wait until June and the current exchange rate will seem very good.

[@MrAnderson3]

Here in Australia, one of my customers was a wealthy South African and he moved with his family here in 2023. He said it was hard to relocate and start your life again but hiring an armed gaurd to escort his kids to school wasn't a future he wanted for his kids.

[@claramarismith1014]

I would leave with my husband if we had enough even just flights will do, starting over with nothing is worth the struggle in comparison to whats happening here.

[@calvinpurdy2668]

Precisely what happened to me in 2001. I left with 2 large suitcases and about R 25 000 total. Found a job, lived frugally and 23 years later, own a beautiful house in a prestigious suburb, 2 close to new cars and take 2 over seas holidays annually. It was tough in many respects, but oh my God,it was worth it.

[@alanpatrick1182]

Left SA in January this year not as millionaire though😅

[@MuzorewaRatshikuni]

Read our lips Patrick: We do not care!!!!!😂

[@milliepop3994]

The quality of life here is so unpredictable. Whether it’s loadshedding, crime, infrastructure failings and all. It’s understandable for anyone with the funds to look to live elsewhere. We just need to rebuild the country from scratch. Too much is currently wrong.

[@katlegodidit]

I left the conversation when he said, "South Africa lost eleven dollars"... Brain was probably screaming to say, "another, another dollar". But bosses were like, nope, read the teleprompter.

[@thevoicewithin930]

Who can blame them? I would also bugger off if I had the means.

[@user-ph8to6vt2q]

Charge a fair amount, they'll stay. (Even though they want to avoid paying any and all taxes, they know what's fair) Charge more than they see is fair, don't be surprised to see them move. They have the means to move as fast as you can pick up your TV remote to open SABC news reporting that their monies are leaving the country.

[@lesegomabiletsa6458]

Crime is biggest factor

[@jerryestika]

who wouldn't honestly

[@bkthedefbeatz]

SA RICH havent left the country(its too beautiful) their MONEY has left the the country.

[@andrewswales1042]

What???? Country is a dump

[@user-dl1ne2qy1d]

Oooh you are wrong. No sane human keeps his or her body in a murder zone.

[@simba8665]

If you care for your life, leave whilst you can.

[@not.likely]

You cant blame them

[@melanenevalentine4184]

The first opportunity you get to leave this country do so, it's a once in a lifetime opportunity I cannot urge anyone enough. The country has its politics but end of day it was deemed to fail ... 3 decades down the line and see the results, another 3 decades a loaf of bread would cost you a arm and a leg

[@hlits6310]

You can take your money out the country, or you can give it to Zuma and ramaphosa and Malema to spend on themselves.

[@savesouthafrica113]

Who can blame them? These people are taxed at a very high rate and then have to pay again for the services they should have received (electricity, security, healthcare etc). The pool of opportunities for the unemployed will continue to shrink unless we reverse course and get the basics right. The only party that has the infrastructure to do that with a proven track record is the DA.

[@menzimngadi6793]

I say this is not such a bad thing in the long-run. Let them go and open space for the millionares that are more patriotic.

[@Tshepo10111]

It's a problem because they were employing people to pay tax as well, It's not easy to find millionaires with discipline, watch I blew it and look at Mamkhize and Motsepe they rather spend money on soccer teams while looting tax payers.

[@sibusisodube6835]

The most important thing is the reason WHY they are leaving. Some reasons are too much even for the patriotic ones.

[@esilevinichronicles4269]

Not many have your discerning eye. The universe is ejecting them, many will not see this for what it is. Those who are coming will be a blessing than being a curse

[@menzimngadi6793]

@Tshepo10111 Tshepo black people own and control major industries everywhere in Africa except here in RSA, the answer is not hidden, there is a section of our population that is hogging it. I am talking political economics here I am not talking "I blew it"

[@lm_b5080]

i agree brother..there are many tenderpreneurs here in KZN waiting for opportunity $$$$

[@88motho]

I was explaining to my Rural Black people how many people are paying Tax, and how many people are in Grants in SouthAfrica, They immediately understood that soon there will be no more Grants if things are like that. Our Black People can see that things are bad ,but there kept voting ANC .Now they are scared because it looks bad. They even Remember Apartheid government especially on Foreigners, Security, Jobs ,Health care and water and Sanitation.

[@Enoch940]

White brain also leeve in big number. My frend work in flite center and say too many leeve one way every day.

[@brianr4960]

We all want the same thing............... safety, food, housing, good infrastructure, water and to just enjoy life. I cant believe how low we have sunk in just 30 years. What a waste!!

[@nathikhumalo3448]

The high net worth individuals are the biggest tax evaders and they end up contributing very little to the country’s tax base compared to an ordinary South African .

[@antonjoubert6980]

Yeah, they usually pay way more if you consider their company, PAYE for employees and all other taxes, jobs etc. that they provide

[@0i0_himself]

You are all paid by them 😂 relax

[@esilevinichronicles4269]

I agree, it is better for government to promote small and medium.businesses to avoid trade and financial shocks. Italy is an example of a resilient economy due to this.

[@ProcaviaCapensis-ts8ub]

SARS has HNWI's under a microscope. The top 100 000 earners pay a third of personal income tax. You should deal in facts , not what your hairdressers says.

[@0i0_himself]

@@ProcaviaCapensis-ts8ub are you not one of their expenses generated to evade tax?

[@donaldgray2128]

good on them

[@DumaM-ir7rk]

Let’s talk about the South African government that refuse me leaving the country. The South African government that is silencing me without a trail before any court or anything

[@LeadingLight481]

Good! Put it in your couch, send the couch somewhere better!

[@balsak007]

Why pay taxes here? 😂😂😂😂😂😂😂

[@DesmondKarani]

Looking at the comment section, it's all about corruption, bad governance, apartheid, poor infrastructure... etc. I'm not South African but I can guarantee you that almost no country on earth today doesn't have such problems.

[@user-uk8hw4uf9o]

Who wants to keep his money in this crooked country

[@christophersemenya9890]

After all Many are returning 20 years later, they will return in 10-25 years from now. We're not bothered

[@cloudstrife8791]

28000 returned and 914000 left 3% returned after 20yrs the news made a big fuss but lied about it since those returnies are barely a drop in the ocean compared to those who stayed away 30yrs and going.

[@christophersemenya9890]

Thanks. An Irish lady I know, packed all her bags sa is full of crime, exclaimed. 2 year later she returned. Her small children could not play outside because it was cold. They could not play outside, because they were staying on the flats, the neighbours were complaining of the noise. Lack of space & movement. Their mom could not get a decent job, back in SA she had a domestic helper, dog, a big house with a big yard and afforded so much than she could in UK. Thus they returned. She still does not like SA, since there is no place like home but they have Life here. All her household and hubby realized that. All the expats are returning because of inconsistencies faced overseas. SA has nature reserve u can think of

[@cloudstrife8791]

@@christophersemenya9890 The big issue with leaving is straight up a lack of knowledge about leaving its not just SAns many go from US to EU or vice versa and hate it. USA has 51 states each state has a different way of life they also have different laws and things that are allowed like abortions might be a thing in Newyork but the state next to it banned it. I have 1 family member who left started a his own business and heard he employes just over 1000 people. Many friends left after school made success and bought a house in Australia and if you look at AUS news the locals are struggling yet a school kid studied got a job met a SA girl over there and bought a house ofc this is over a decent amount of years but still. Many in SA can barely move into a house from low 35-40yrs these days. Many also hear from friends come to this country and this town then realise its utterly the opposite of what they want struggle and its a mess. Friends/colleagues are not a good motivator when its a permanent lifestyle change this big. So far everyone i know stays well overseas but come back for weddings or had their weddings in SA. Stellenbosch area always a winner and a good Memory. Our cleaner randomly met a guy from the UK and 1 day said she quits got married and now a UK citizen crazy. Taxes weather war cost of living etc etc lots that needs to be fully researched. Look at Japan saw a video guy paid $4 million for barely a house. Its small in Japan its a perfect thing for them, but for a SAn its a fat no. Thats R80million thats a luxury house at Clifton beach vs a block.

[@Stirlingshirecastle]

​@@christophersemenya9890 Why would an Irish lady migrate to the UK from 🇿🇦 instead of going back to Ireland? You should visit the UK & see how many black nurses are working & living here. It is cold in winter, but not as bad as you described it. Life here is way better than in South Africa.

[@laurie7-mo5gk]

Imagine it's difficult for them to patch potholes haa

[@raymondshiburi9151]

What are we poor Africans supposed to do? They didn't leave with our natural resources and the mines and the land, so why are we scared? We should work with our resources and do for self, we only have Africa we have no other home, we either starve here or thrive here.

[@Thatotherguy803]

What reason do they have to stay? So taxes and property can be stolen?😂

[@sthembisosthe9069]

Abahambe we will survive our god is the provider lord Jesus

[@kasikwagoma6740]

Why don't the black South Africans travel to the rest of Africa and see what corruption, neglect and lack of infrastructure investment.... It is a total disaster. All those African migrants fleeing into south Africa are fleeing from the consequences of the the 3 things I mentioned.... Corruption is a cancer and it kills. I. I south Africans learn from people who know how to run countries and not the failures you see all over Africa. I feel so ashamed.

[@neilrichardson7454]

😊😊Black South Africans should be so happy. Most of these South Africans are white and Indian descent 😊

[@lamandhbbf3639]

Now it’s time for the Western Cape to leave.

[@AnonymousanonymousA]

aren't bonds used as well?

[@mariogovinder1819]

We should be highly concerned, what do they know and we don't. The country and economy is on fire, when is it going to explode.

[@amaliacoria3063]

Why would anyone be concerned about losing their millionaires? What do they contribute to society, to the tax codes to anything, but themselves? Who cares where they go.

[@clownbooface2624]

Yes rich ppl follow the money, no money here anc has looted everything destroyed all SOEs, good job anc

[@pedroberdichevsky9181]

No Enc no problems !!stop the ENC !!!

[@LetterSignedBy51SpiesWasA-Coup]

Zimbabwe

[@vincentalexandremuambi4493]

I'm a Canadian of Congolese descent. I want to leave Canada for similar reasons. 😢

[@ockertstoltz759]

Taxes are not supposed to be abused. Recovery of what funds? The word recovery means to find something that is lost. SARS to be taken to court for not making the ANC accountable for the wastage.

[@chemistjunior1828]

Is better to have a declaring economy than to be a slave in your own country

[@bonganisibiya11]

They can make me a dollar millionaire and I promise I will stay 😅

[@Noname_739]

You will be soon once more money leaves, and the Rand drops like the Zim dollar

[@AndrewMcFarlane_1]

Soon that million will lose its value as long as ANC is in power

[@jamesbang7912]

But not cape Town 😂

[@paulrowe9486]

"South Africa lost eleven dollars " ??? How did he get the job ? B.E.E. obviously ???

[@profAKILI]

Let them leave, Malema will make South Africa Great Again..greetings from Nairobi

[@HiltonLayman]

Voetsjek prof akili we don't want you shop keeping here in SA we need Industrialist not to you 😊

[@not.likely]

Mslema will make SA great again 😂😂😂😂😂😂😂😂😂😂😂😂

[@HiltonLayman]

@@not.likely Stealing corruption violence chaos and anarchy might be your breathing but Governing a Country certainly is not in Malema DNA the ANC has proofen that a 3O year disaster and Zimbabwe around the corner from you show you ignorant hopefully you'll learn fast filling up stadiums talking about the Land and Nationalisation is hardly enough to run a complex Goverment by a Malema who has Stolen Million from us South Africans if that great for you .... please move to Zimbabwe where you can go live it suits you perfectly it's allready fucj up it's so African so true so Malema style

[@mzerk9324]

Malema will never rule SA. Never will that happen. I know SA demography very well. I know why he has no support from majority tribes.

[@williamshakur8715]

Criminal make the country better 😅😅😅😅

[@TRebMad114]

To each, his own. The thread here seems to be a group of people who have common nostalgia of a South Africa many of us have no knowledge of. Well, you’ve done your part, we’ll fix the defects. Let me promise you this, just as we defeated apartheid, we’ll defeat corruption and crime, this is our fight today. South Africa is undergoing an interesting transition, both politically and economically. So yes, there’ll be some pain. I won’t give you a long forecast but by 2030, a mere 6 years from today, many of you will be sneaking back in. Just remember that you were the coward that ran as soon as you felt your cozy life was threatened. Promise us one thing however, that you wont be like some South African expats who left due to similar reasons some 20 years ago predicting an imminent ‘’total collapse” of the country. When that didn’t happen they resorted to demarketing the country abroad and some of them continue to this day. I know you’ll be exemplary expats. Better luck finding a better country. Bon voyage. 🎉

[@MuzorewaRatshikuni]

Dude! You're AWESOME!

[@tshidisotc1820]

Don't worry they will come back

[@user-le7xs5mq4y]

Please let the greedy leave ! trust me good riddance to bad rubbish! don't suffer the fate of the west!

[@RastaAfricanGentleman]

All the best to them, with money you have options

[@thelammas8283]

No it’s not. The property market in the Cape is booming. Some people, with a lot of money that is staying there, are buying these.

[@thescoopworldwide]

They are not the ones being spoken obout some of those settling in Cpt are digital nornads with a couple of million dollars here they are referring to individuals with a net worth of over 500 million.

[@hey_kudisco_podcast]

Don't be fooled, capital flight is a real thing. These people are leaving in droves. You should see how many 'for sale' signs there are in these posh suburbs.

[@thelammas8283]

@@hey_kudisco_podcast Maybe a different view. I was one of those people that left. Purely to take the money away. I have come back, but the funds won’t. What amazes me looking at property prices, clearly that isn’t true for many people. These homes aren’t petty cash, and most aren’t bought on a mortgage either.

[@oriehi_raphael_paul]

I don’t understand. Just 11 out of 37,000 millionaires left?

[@anastasiszaroliagis5066]

Money have not nation...😊

[@lebo_maker]

It all starts with education and ends with education.

[@kenzen-ul4qo]

Yeah that’s what happens when a government is incompetent and guess what, when rich people leave, they don’t just take their money with them, they close businesses too.

[@calvinpurdy2668]

You're not wrong.

[@walterhunter3353]

We know who’s leaving and we know why. It’s the same thing here in America call White flight.

[@user-THEUNKOWn]

If i was a million I would leave like the economic state of south Africa is not worth investing while the current policies are still in place due to variety factors adding to decline in south Africa so yeah I would pull out and go invest in other countries like this country is high risk

[@siyathembasiazmatshaya7074]

I wish to leave too,since now they want to chow our money as government employees,they came up with Two pot system,which it has nothing to help us financially but the way for them to loot.

[@graham9794]

It's confirmed!! South African's National IQ test will be written on 29 May.

[@MauriceMineo]

Thanx to the anc. Dom poes

[@w.s.2102]

Rich Canadian are taking their money out of Canada as well

[@Justice-so9be]

They not leaving, their money is…

[@stephenpheratsetse2703]

Let them go, the majority of the poor didn't benefit anything from them as they have looted enough for themselves.

[@StoepZulu]

These comments are a joke, most of us don't even pay tax but your talking kak about the people that are employing us, Cause your god ANC isin't

[@za_cpt]

They can go if they want to go. We don’t care. When they were here they were enjoying their stolen wealth alone in anycase 😂

[@chaseteter]

The BRICS currency solution can’t come fast enough

[@GeraldBeagan-ee6se]

I'm sure China wants to rescue everyone....their debt is over 50 tril usd

[@dariomendoza191]

AFRICA will Overcome if it Chooses the RIGHT Trading Partners!!! greetings from Mexico

[@calvinpurdy2668]

There are 53 countries in Africa. Not 1 is prosperous, and it's not from choosing the wrong trading partners.

[@dariomendoza191]

@@calvinpurdy2668 400 years of oppression Colonialism and RACISM!!!!

[@BlaqMusq]

Il be leaving this evening too😂😂😂

[@MuzorewaRatshikuni]

We do not care !! Fair well.

[@ndwandwewasendwedwe7964]

Loku kwe ndiya kuyistatshanyana