Wealth Feature: The impact of Covid-19 on wealthy South Africans

One thing we know for certain about this pandemic is that nobody has been spared. While its highlighted deep-seated structural inequality in terms of access to things like online education it’s also been indiscriminate in the wealth destruction effects we’ve seen.Still, tor those high up on the corporate ladder, or wealthy enough not to work, the global recession triggered by the pandemic is more of an inconvenience than an existential threat to their wealth. The US stock market has proven resilient, as have other asset classes such as art and gold.
Michael Avery talks to Eric Enslin, CEO of FNB Private Wealth and RMB Private Bank, about the financial impacts of Covid 19 on the well heeled