The Impact of Wealth on South African Families: Managing Next Gen Expectations
The everyday challenges faced by South African families in bringing up children can be further complicated by the presence of substantial wealth, according to international family office Stonehage Fleming. In South Africa, a country with the highest Gini co-efficient in the world[1], being born into privilege can potentially signify a mark of shame. The Gini co-efficient measures income inequality, ranging from 0 to 1, and South Africa’s latest figure is 0.63 (2015).