Wed. May 18th, 2022

Some people say that money is the root of all evil whereas others say that it makes the world go round, however you look at it, in today’s time and in Cyril’s current economy, money is nice and money is important. A huge percentage of South Africans struggle and live below the poverty line whilst two thirds of the country’s wealth is held by an elite 1%. Additionally, some of the world’s wealthiest people are from here and so we thought we would tell you guys a little more about the 10 richest people In South Africa

Considering the many names that have made it onto the Forbes List of the world’s wealthiest, it is evident that South Africa is home to many affluent and moneyed people.

Here is an in-depth look at the 10 richest people in South Africa.

Johann Rupert

Safely securing the top spot on the list of richest people in South Africa is entrepreneur and businessman Johann Rupert. Although many of us had a rough 2021, Johann saw his wealth grow immensely, moving him up from second position and securing him the top spot on this list.

Johann founded and serves as the chairman of Richemont, a luxury goods company that sells and produces watches, jewellery, firearms, leather goods, pens, clothing and accessories. He is also the CEO of Remgro and Compagnie Financiere Richemont companies that he founded.

In 2021, shares of his luxury company Richemont, climbed by 84% on the Johannesburg Stock Exchange and was one of the biggest drivers in the economy. This surge left Johann Rupert with a whooping estimated net worth of 11.7 billion USD.

Nicholas F. Oppenheimer

For several years Nicholas, aka Nicky Oppenheimer was not only the richest man in South Africa, but he is also the third richest man in Africa. Nicky was born into money, his grandfather Ernest Oppenheimer took control of De Beers in 1929 and built it up to become the world’s biggest diamond company and also founded the Anglo American mining company.

However, the businessman accumulated the majority of his wealth in 2012 when he sold his families 40% share in De Beers for a whooping $5.2 billion in cash.

In addition to that fat cash payout, Mr Oppenhiemer has private equity investments across Africa, in Europe, Asia and in the US. His pockets clearly run deep and he secures his spot on the 10 richest people in South Africa list with a current net worth of an estimated 8.7 billion USD.

Jacobus Bekker

Another billionaire who secures his spot on the list of 10 richest people in South Africa is businessman and entrepreneur Jacobus Petrus “Koos” Bekker. Koos currently serves as the sitting chairman of the media group Naspers.

Outside of China, the US and India, Naspers has the largest market capitalization of any media group and it is listed on both the JSE and LSE and operates in over 130 countries across the globe.

Koos also co-founded M-Net/MultiChoice in the 80’s which was known as the first paid TV service outside of the United States. His current net worth sits at an estimated 2.2 billion USD.

Patrice Motsepe

The first black man on the list is Patrice Motsepe. As the founder and chairman of African Rainbow Minerals, a company that focuses on mining gold, iron, copper, coal, platinum and platinum group metals, he secured his spot on the list back in 2008 and has maintained it since.

Patrice Motsepe also serves as the president of the Mamelodi Sundowns football club, has a healthy stake in Sanlam and launched a private equity firm in 2016 focused on investing in Africa. His current net worth sits at an estimated 3.3 billion USD.

Ivan Glasenberg

Ivan stepped down from his position as CEO of Glencore, one of the world’s largest commodity trading and mining companies. When Glencore and Xstrata merged and created a billion dollar entity, the businessman stepped in and served as CEO of company, heading one of the largest mining company mergers in history

Even though he is currently retired, his net worth sits at an estimated 8.4 billion USD.

Michiel Le Roux

The next billionaire to feature on the list of 10 richest people in South Africa is Michiel Le Roux, the founder of one of the biggest banks in the country, Capitec bank.

Le Roux founded the bank in 2001 and served as the CEO until 2004. From there he went on to become the Chairman of the Board from 2007 to 2016. The businessman has since remained a board member owning more than 10% of the bank’s stake. His current net worth is estimated to be 1.8 billion USD.

Christo Wiese

Next on the list of 10 richest people in South Africa is esteemed businessman and the founder of one of the biggest retail outlets – Shoprite. Christo is the second largest shareholder in the company with a 10.67% stake valued at R14 billion ($910m). In addition to that, the businessman also has other investment vehicles that contribute to his wealth.

Stephen Saad

Serving as the chief executive and head of the Aspen board, Saad safely secures a spot on the 10 richest people in South Africa list. In 1997, the businessman founded Aspen Pharmacare which grew to become South Africa’s largest pharmaceutical producer. He has a current net worth of 1.9 billion USD.

Cyril Ramaphosa

Serving as the 5th democratically elected president, Matamela Cyril Ramaphosa also secures a spot on the list of 10 richest people in South Africa. Before entering politics, the businessman was involved in various sectors such as the financial services, food industry with significant stakes in Coca-Cola and McDonald’s South African subsidiaries and the mining sector. His current net worth is an estimated 450 million USD.

Ivan and Lynette Saltzman

Closing of the list of 10 richest people in South Africa is the power couple Ivan and Lynette Saltzman. The couple founded one of the biggest and leading pharmacies in the country, Dis-chem. Their current net worth sits at an estimated R2.4 billion (151.1 million USD). – ZAlebs

Leave a Reply

Your email address will not be published.