The way Kagiso Modupe got rich left many in surprise
‘PUBLIC CIRCUMCISION CAMPAIGN
Kagiso Modupe, an actor and film director, is best known for his role as Mangi Nyathi in the television show Scandal! on e.tv. Modupe recently revealed that he amassed a million dollar fortune by selling his private parts.
“It’s hilarious… I became a millionaire by selling my genitalia on the black market.”
When the podcaster asked him how he used his manhood to become a millionaire, the celebrity responded by saying that at the time, he had been married to his wife for 12 years, but he had never undergone circumcision. He also stated that he did not have children.
He came to the conclusion that because he is not circumcised, he is in a unique position to educate and encourage other men to undergo the circumcision ritual.
Modupe contacted Brothers For Life and Right to Care with the intention of initiating a public circumcision campaign in an effort to encourage other men to get circumcised on the same day as him.
He published an advertisement on social media stating that he would receive R1 for each man who underwent the circumcision procedure.
As a direct result of this campaign, the film director was able to make his first million dollars and was able to achieve his goal of convincing 1.1 million South African men to undergo circumcision in just one day.
KAGISO MODUPE ON ‘LOSING LERATO’
The actor-turned-producer who has been dubbed the “Tyler Perry” of Mzansi shared his journey of filming his award-winning film Losing Lerato, in which his daughter, Tshimollo Modupe, stars. The film was nominated for several awards.
According to IOL, the film that had its world premiere in September 2019 took the top spot in around major theaters in the first week of its official release. It also became the first independent film to gross over R4.1 million in five weeks.
At the Idyllwild International Festival of Cinema in California, the film directed by Modupe was up for six awards, including Best Actor (Kagiso Modupe), Best Actress (Samela Tyelbooi) and Best Supporting Actress (Tshimollo Modupe), Best Supporting Actor (Thato Molamu), Best Director (Sanele Zulu), and Best Cinematography (Gavin Sterrley).
“It gives us great pleasure to announce that #losinglerato has been nominated for a festival and will have a screening at the IdyFest in Palm Springs, California, the month after that.”
This is the education received by South Africa’s super-rich.
According to the most recent Africa Wealth Report, which was compiled by Henley & Partners and New World Wealth, nearly thirty percent of South Africa’s ultra-wealthy hold a postgraduate degree in the legal field.
The term “wealth” refers to a person’s “net assets,” which include all of that person’s assets (property, cash, equities, and business interests), less any liabilities that person may have. According to the findings of this study, a person is considered to have a high net worth (HNWI) if their wealth is greater than one million dollars (about R15.5 million). In the year 2021, South Africa had a total of 39,300 millionaires, whose combined wealth amounted to USD651 billion.
According to the findings of the report, wealth, rather than gross domestic product, is a more accurate indicator of an economy’s overall state of financial health.
What kind of work do they do and what did they study?
About 28% of the country’s ultra-wealthy have degrees in finance and accounting (BCom, MBA, CA, or CFA), 7% have degrees in medicine or science, 7% have studied computer and information technology, and 5% have engineering degrees.
The most important fields in which they made their fortune are real estate (12%), technology and telecommunication (10%), and financial and professional services (35%).
Twenty percent of them received their education from the University of Cape Town, eighteen percent from the University of the Witwatersrand, and thirteen percent from Stellenbosch University respectively.
Farewell to the golf estates, and welcome to the wild!
Another pattern that has surfaced is that nearly half of South Africa’s ultra-wealthy people, or 48%, either live on so-called lifestyle estates full-time or own second homes there. This is an increase from the 30% seen in 2011. Since the Covid-19 pandemic began, there has been a shift away from the previously favored golf estates and toward wildlife and parkland estates, both of which have become increasingly popular. There has also been an uptick in interest in retirement estates.
According to the findings of the report, wealthy buyers in South Africa are increasingly gravitating toward estates that include apartments. As a result, the majority of new luxury estate developments in the country place an emphasis on apartment living rather than single-family homes. “As opposed to the traditional model, in which houses were spaced evenly around the community, the majority of developers are now focusing their attention on the creation of small neighborhoods within their lifestyle estates.”
The new model makes it possible to add more parkland and open spaces all throughout the estate, in between each of the “neighborhoods.” A significant number of wealthy people have made the decision to work from home and settle in more rural areas, such as Hermanus, Plettenberg Bay, and Franschhoek.
Since 2011, approximately 4,500 high-net-worth individuals have left South Africa. The majority of these people have traveled to the United States, the United Kingdom, and Australia. Other countries such as Portugal, Switzerland, Israel, Mauritius, New Zealand, the United Arab Emirates, Canada, Monaco, and Malta have also received significant numbers.