The Top 10 Richest Man In South Africa
Described by its first black president Nelson Mandela as a Rainbow Nation, the multi-ethnic South Africa is a diamond-rich land. Naturally, the majority of its most affluent people derived their wealth from mining. Dominated by mining magnates with a sprinkling of activists, bankers, supermarket and retail tycoons, here’s a list of the economic movers and shakers of South Africa.
The publicity-shy CEO of investment company Allan Gray Limited likes to keep his wealth off the radar, but Nigerian publication Ventures Africa outed him, disclosing that the 75-year-old is currently the richest man in South Africa with a net worth of $8.5 billion. Gray controls companies with collective assets of $50 billion.
Luxury goods and retail tycoon Johann Rupert inherited the wealth of his father, Anton Rupert, and increased it tenfold. He chairs the third biggest luxury goods company on the planet, Compagnie Financière Richemont SA, the creator of Dunhill, Piaget, Cartier, IWC Schaffhausen and Vacheron Constantin.
Diamond magnate Nicky Oppenheimer is chairman of mining giant De Beers. His family controls Africa’s largest game reserve, the Tswalu Kalahari Reserve. The family’s E Oppenheimer & Sons company combined forces with another investment company, Temasek, in 2011. The duo formed Tana Africa Capital which invests in consumer goods and agriculture.
Self-made billionaire Christoffel Wiese chairs the largest discount retailer in Africa, Shoprite, of which he owns majority of the stakes. He was once detained at a London airport for carrying $1 million in cash stuffed in a suitcase.
Named after African independence leader Patrice Lumumba, self-made Patrice Motsepe is the first and only black billionaire in Africa. He amassed wealth through the mining company he founded, African Rainbow Minerals. He joined The Giving Pledge, the philanthropic campaign of the world’s wealthiest people, and committed to donate half of his wealth to charitable causes.
Another South African who made a fortune from mining is Desmond Sacco whose father, Guido Sacco, founded Gloucester Manganese Mines in the 1920s. Desmond joined the billionaire ranks last year when the stock price of mining company Assore rose steadily amid mining protests that rocked the national economy and left other mining stakeholders reeling from the blow.
This self-made billionaire is the founder of Africa’s biggest pharmaceutical company, Aspen Pharmacare, which employs 6,000 people. The 49-year-old, who made his first million at the age of 29, is the biggest single shareholder in the company.
Cyril Ramaphosa was a politician, activist and trade union leader who later became an entrepreneur. He is executive chairman of the company he founded, the Shanduka Group, which invests in telecoms, financial services, energy, and property development. He is married to the sister of South African billionaire Patrice Motsepe.
Banker and philanthropist Laurie Dippenaar is co-founder of FirstRand, South Africa’s leading banking group. Dippenaar is non-executive chairman of this company which employs 42,000 people and owns WesBank, National Bank and Rand Merchant Bank. The Laurie Dippenaar scholarship offers South African citizens international post-graduate scholarship.
Self-made millionaire Raymond Ackerman is the founder of the supermarket chain Pick N Pay Group which boasts over 800 stores in South Africa, Australia and Zimbabwe. Ackerman holds more than half of the stakes in the company. He helps the mentally and physically handicapped via the Ackerman Family Educational Trust.