South African high earners gave away a combined R7 billion in cash, goods and services to charities last year, according to Nedbank’s The Giving Report released yesterday. The report analysed giving behaviours, patterns and trends of high-net-worth (HNV) South Africans.
Nedbank surveyed 400 HNV individuals, individuals who earned at least R1.5 million a year or own investable assets of more than R5 million, excluding primary residence. About 63 percent of the respondents’ total net worth was in the range of R5m to R10m, while 19 percent of them were worth R10m to R20m and 7 percent were worth R20m to R50m.
