Cyril Ramaphosa Net Worth : $700 Million
Ramaphosa was born in November 17, 1952 in Soweto, Johannesburg, South Africa. He has not only succeeded in becoming a prominent politician, but he has also managed to become a prominent figure in the business community. Besides being a businessman, politician and trade unionist, he is widely revered as a formidable and skillful strategist and negotiator.
In 1991, Ramaphosa was elected as ANC’s Secretary General. Following his election, he headed the negotiation team of the ANC in negotiating with the National Party government to put an end to apartheid. In 1994, Ramaphosa was then elected as a member of parliament during democratic elections.
Subsequent to his election to the parliament, he was elected as the chairman of the parliament’s Constitutional Assembly. Ramaphosa decided to resign from the political positions that he held in 1997 after losing the presidential race to Thabo Mbeki. The media has constantly speculated that Ramaphosa would join the ANC’s presidential race, but he has persistently denied having any interests in contesting for presidency.
Trade Union Involvement
After Ramaphosa obtained his degree at the University of the North, he became a legal advisor of the National Council of Trade Unions (NCTU). In 1982, a proposition was made requesting that Ramaphosa establish a union specifically for mineworkers. Ramaphosa agreed to the request and launched the National Union of Mineworkers (NUM) the same year in which he became the union’s first secretary.
Ramaphosa was the conference organizer in the arrangements that lead to the creation of the Congress of South Africa Trade Union (COSATU) that was launched in 1985. He was elected the first General Secretary of COSATU and held the position until his resignation in 1991. While he was still the General Secretary of the union, he, together with two other leaders led mineworkers in one of the biggest strikes ever in the South African history.
Ramaphosa is the Executive Chairman of Shanduka Group, which is a company he founded. This company has investments in the banking, telecoms, real estate, insurance, energy and resources sectors. He acts as the chairman of MTN and Bidvest Group Limited. Other non-executive directorship roles played by Ramaphosa include SAB Miller, Alexander Forbes, Standard Bank and Mcsteel Holdings. He is also a member of the Unilever African Advisory Council, as well as a member of the Coca-Cola Company International Advisory Board.
Awards and Honors
Ramaphosa has been awarded with various honorary doctorates from various universities including the University of Cape Town, University of Natal, University of the North, University of Port Elizabeth, University of Pennsylvania and University of Massachusetts Amherst.
In 1987, Ramaphosa was awarded with the Olof Palme Prize in Stockholm. He was also ranked 34th in the top 100 Great South Africans. He was also incorporated in the 2007 Time 100, which is a yearly list of 100 people (both men and women), whose talent, power and moral example tends to transform the world.
Ramaphosa is married to Dr. Tshepo Motsepe, with whom he has four children.