Laurie Dippenaar Net Worth : $650 Million
Laurie Dippenaar is a South African investor and millionaire, whose main interests are in the banking and insurance industries. Has was born in the year 1948, and later on joined Pretoria University where he attained both his bachelor of commerce and master of commerce.
With the collaboration of Paul Harris and GT Ferreira, Dippenaar founded Rand Consolidated Investing in 1997. Rand Consolidated Investing is the predecessor of FirstRand, a financial services group that’s active in both banking and insurance.
Lauritz is one of the wealthiest people not just in South Africa, but in Africa at large. He is ranked as one of the wealthiest person in South Africa after Allan Gray, Johann Rupert, Nicky Oppenheimer, Christoffel Wiesel, Patrice Motsepe, Desmond Sacco, Stephen Saad and Cyril Ramaphosa. Dippenaar’s wealth is estimated to be not less than $650 million.
From 1973 to 1976, Dippenaar held the position of Investigating Accountant at Industrial Development Corporation of South Africa Limited. From 1977 to 1984, he acted as the Executive Director of Rand Consolidated Investments. From 1985 to 1988, Dippenaar acted as the Executive Director of RMB Holdings Limited. He then acted as the Managing Director of RMB Holdings Limited from 1988 to 1992. From 1988 to 2005, he also acted as the Chief Executive Officer of Rand Limited. He also acted as Non-Executive Chair of Discovery Limited.
In 2005, Dippenaar became the Non-Executive Chairman of FirstRand Limited, a position he maintains to date. He is also the Non-Executive Chair of Momentous Group Limited, as well as the Non-Executive Chair of OUTsurance. He also serves as the Non-Executive Director of RMB Holdings Limited, as well as the Non-Executive Director of Rand Merchant Insurance Holdings Limited.
FirstRand Limited is the successor of Rand Consolidated Investing, and it was formed in the 1990s after a serious of acquisitions and mergers. This company that has over $80 billion in assets has its operations in South Africa, 5 neighboring countries as well as in India. At the end of 2011, Royal Bafokeng Holdings increased its stake in both RMI and Rand Merchant Bank from 5% to 15%, sourcing about $650 million to do so. As a result, Dippennar’s stakes in those two companies shrunk. Dippenaar was appointed as the first Chief Executive Officer of FirstRand, a position he held until December 2005. In November 2008, he was elected to the position of Chairman of the company.
Dippenaar is married with 3 children. His hobbies include watching rugby, Canoeing and cycling