According to data released by Forbes this here are are the richest people in South Africa.
Insights
South Africa has a total of 8 billionaire’s on the list (Last year was 6), making it the African country with the most billionaires.
Oppenheimer, richest man in South Africa
Number one on the list is diamond mining heir Nicky Oppenheimer of South Africa, with a net worth of $7.7 billion, up $700 million from last year.
Also Boosting the South African ranks this year is newcomer
Michiel Le Roux , the founder and former chairman of Johannesburg-listed Capitec Bank Holdings, whose stock has climbed more than 50% in the past year, making Le Roux a new billionaire worth $1.2 billion.
South African mining tycoon
Desmond Sacco, chairman of listed Assore Group who last appeared as a billionaire on the Africa’s Richest list in 2012 with a $1.4 billion fortune, also returned to this year’s list following a stock price surge of some 60% in the past 12 months. (He also appeared on the 2014 Forbes list of the World’s Billionaires, worth $1.3 billion
Here is a look at the updated list of the wealthiest South Africans:
1. Nicky Oppenheimer
Networth: $7,6 billion
Oppenheimer is the richest person in south Africa with a net worth of $7,6 billion. The 72-year-old made his money off the diamond business. He was previously the chairman of diamond mining company, De Beers.
2. Johann Rupert
Networth: $6,8 billion.
At 67 years-old, Rupert has a net worth of $6,8 billion. He is the chairman of Swiss luxury goods firm Compagnie Financiere Richemont, a company known for brands such as Cartier and Montblanc. He is the second richest person in Africa.
3. Koos Bekker
Networth: $2,6 billion
Chairman of Naspers, Koos Bekker makes billions of rands from businesses which include DStv, Multichoice, MNet, and online stores – OLX and Takealot. Bekker has acquired most of his wealth from his media businesses and investments. Bekker is 64 years old and has a net worth of $2,6 billion.
4. Patrice Motsepe
Networth: $1,9 billion
At 55 years, Motsepe is the youngest billionaire in South Africa, and the fifth youngest billionaire in Africa. The billionaire’s source of his income is primarily mining – Patrice is Africa’s first billionaire. He is the founder of African Rainbow Minerals and the owner and president of soccer club Mamelodi Sundowns. Motsepe has a net worth of $1,9 billion.
5. Allan Gray
Networth: $1,7 billion
Gray’s source of income is money management. He founded investment management firm, Allan Gray Limited in 1973. Gray has a net worth of $1,7 billion.
6. Michiel Le Roux
Networth: $1.2 billion
Michiel Le Roux of South Africa founded Capitec Bank in 2001 and owns about an 11% stake.
The bank, which trades on the Johannesburg Stock Exchange, targets South Africa’s emerging middle class.
He served as chairman of the board of Capitec from 2007 to 2016 and has continued on as a board member.
7. Desmond Sacco
Networth: $1.18 billion
Desmond Sacco chairs South African mining firm Assore Group, which mines for iron ore, manganese and other ores.
Sacco’s father Guido founded the company in 1950, and Desmond joined the group in 1968.
Desmond Sacco owns about 32% of Johannesburg-listed Assore Group. He is worth $1.18 billion
8. Christoffel Wiese
Networth: $1.1 billion
Aside from having stakes in private equity firm Brait, industrial products company Invicta Holdings and mining-sector investor Pallinghurst, Christoffel Wiese also owns 18% of publicly-traded Shoprite Holdings, which has supermarkets and furniture stores in 15 countries across Africa.
